Culp (NYSE:CULP) Research Coverage Started at StockNews.com

StockNews.com initiated coverage on shares of Culp (NYSE:CULP) in a research note issued to investors on Monday. The brokerage issued a hold rating on the textile maker’s stock.

Culp Stock Performance

Shares of CULP opened at $5.58 on Monday. The company’s 50 day moving average price is $5.61 and its 200 day moving average price is $4.96. Culp has a 52 week low of $4.25 and a 52 week high of $6.85. The company has a market capitalization of $69.58 million, a PE ratio of -5.03 and a beta of 1.19.

Culp (NYSE:CULP) last announced its quarterly earnings data on Wednesday, September 4th. The textile maker reported ($0.37) EPS for the quarter. Culp had a negative net margin of 7.88% and a negative return on equity of 19.51%. The company had revenue of $56.54 million for the quarter.

Insider Activity at Culp

In related news, CEO Robert George Iv Culp acquired 16,128 shares of the stock in a transaction that occurred on Monday, September 9th. The shares were purchased at an average cost of $5.71 per share, with a total value of $92,090.88. Following the completion of the transaction, the chief executive officer now owns 69,521 shares of the company’s stock, valued at approximately $396,964.91. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. In other Culp news, major shareholder Aron R. English bought 105,242 shares of Culp stock in a transaction on Thursday, September 19th. The stock was purchased at an average cost of $6.31 per share, for a total transaction of $664,077.02. Following the completion of the purchase, the insider now directly owns 1,594,390 shares of the company’s stock, valued at $10,060,600.90. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Robert George Iv Culp bought 16,128 shares of Culp stock in a transaction on Monday, September 9th. The stock was acquired at an average price of $5.71 per share, with a total value of $92,090.88. Following the completion of the purchase, the chief executive officer now directly owns 69,521 shares of the company’s stock, valued at approximately $396,964.91. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 238,959 shares of company stock valued at $1,440,336. Corporate insiders own 6.60% of the company’s stock.

Institutional Trading of Culp

A hedge fund recently raised its stake in Culp stock. Vanguard Group Inc. lifted its position in Culp, Inc. (NYSE:CULP) by 4.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 485,420 shares of the textile maker’s stock after buying an additional 19,640 shares during the quarter. Vanguard Group Inc. owned about 3.89% of Culp worth $2,330,000 as of its most recent filing with the Securities and Exchange Commission. 75.05% of the stock is owned by institutional investors.

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.