Culp, Inc. (NYSE:CULP) Director Fred A. Jackson Buys 5,000 Shares

Culp, Inc. (NYSE:CULP) Director Fred A. Jackson purchased 5,000 shares of the business’s stock in a transaction dated Tuesday, July 9th. The shares were purchased at an average price of $5.00 per share, for a total transaction of $25,000.00. Following the acquisition, the director now owns 70,307 shares of the company’s stock, valued at $351,535. The purchase was disclosed in a filing with the SEC, which is available through the SEC website.

Culp Trading Up 4.5 %

NYSE:CULP traded up $0.22 during mid-day trading on Wednesday, reaching $5.08. The company’s stock had a trading volume of 54,665 shares, compared to its average volume of 21,425. The firm’s fifty day moving average price is $4.43 and its two-hundred day moving average price is $4.77. The stock has a market cap of $63.35 million, a P/E ratio of -4.39 and a beta of 1.22. Culp, Inc. has a 12-month low of $4.25 and a 12-month high of $5.99.

Culp (NYSE:CULP) last released its quarterly earnings results on Friday, June 28th. The textile maker reported ($0.39) earnings per share for the quarter, beating the consensus estimate of ($0.44) by $0.05. The firm had revenue of $49.53 million for the quarter, compared to analysts’ expectations of $49.76 million. Culp had a negative return on equity of 16.06% and a negative net margin of 6.13%. During the same period in the prior year, the firm earned ($0.38) EPS. Analysts predict that Culp, Inc. will post -0.03 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in Culp by 4.2% in the 1st quarter. Vanguard Group Inc. now owns 485,420 shares of the textile maker’s stock worth $2,330,000 after purchasing an additional 19,640 shares during the period. Essex Investment Management Co. LLC bought a new position in shares of Culp during the 4th quarter valued at approximately $256,000. Finally, Gate City Capital Management LLC purchased a new stake in Culp in the 4th quarter worth approximately $6,010,000. Hedge funds and other institutional investors own 75.05% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com initiated coverage on Culp in a report on Tuesday. They issued a “hold” rating for the company.

About Culp

Culp, Inc manufactures, sources, markets, and sells mattress fabrics, sewn covers, and cut and sewn kits for use in mattresses, foundations, and other bedding products in the United States, North America, the Far East, Asia, and internationally. It operates in two segments, Mattress Fabrics and Upholstery Fabrics.