Culp (NYSE:CULP) Now Covered by StockNews.com

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

Culp Stock Performance

Shares of NYSE CULP opened at $5.33 on Wednesday. Culp has a 1 year low of $4.25 and a 1 year high of $6.85. The company’s fifty day moving average price is $5.71 and its 200 day moving average price is $5.02. The company has a market capitalization of $66.57 million, a PE ratio of -3.75 and a beta of 1.22.

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

Insider Activity at Culp

In related news, Director Sharon A. Decker purchased 5,000 shares of the business’s stock in a transaction that occurred on Thursday, September 26th. The stock was bought at an average price of $5.99 per share, with a total value of $29,950.00. Following the acquisition, the director now owns 45,383 shares in the company, valued at $271,844.17. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, major shareholder Aron R. English purchased 105,242 shares of the company’s stock in a transaction that occurred 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 transaction, the insider now owns 1,594,390 shares of the company’s stock, valued at $10,060,600.90. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Sharon A. Decker acquired 5,000 shares of the firm’s stock in a transaction on Thursday, September 26th. The stock was purchased at an average price of $5.99 per share, for a total transaction of $29,950.00. Following the acquisition, the director now directly owns 45,383 shares in the company, valued at $271,844.17. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 238,959 shares of company stock valued at $1,440,336. 7.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On Culp

An institutional investor recently raised its position in Culp stock. Vanguard Group Inc. grew its holdings in Culp, Inc. (NYSE:CULP) by 4.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 485,420 shares of the textile maker’s stock after purchasing 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 SEC filing. 75.05% of the stock is currently owned by institutional investors and hedge funds.

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.