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

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

Culp Stock Performance

Shares of CULP opened at $5.33 on Tuesday. The firm has a market capitalization of $66.88 million, a price-to-earnings ratio of -3.17 and a beta of 1.16. Culp has a 52 week low of $4.25 and a 52 week high of $6.85. The business’s fifty day moving average price is $5.50 and its two-hundred day moving average price is $5.42.

Culp (NYSE:CULP) last posted its quarterly earnings results on Wednesday, December 4th. The textile maker reported ($0.29) earnings per share for the quarter. Culp had a negative net margin of 9.43% and a negative return on equity of 22.50%.

Insiders Place Their Bets

In other Culp news, CEO Robert George Iv Culp purchased 8,508 shares of the company’s stock in a transaction dated Tuesday, December 10th. The stock was bought at an average cost of $5.42 per share, for a total transaction of $46,113.36. Following the completion of the transaction, the chief executive officer now owns 78,029 shares in the company, valued at approximately $422,917.18. This represents a 12.24 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, insider Mary Elizabeth Hunsberger purchased 5,000 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The stock was bought at an average cost of $5.55 per share, with a total value of $27,750.00. Following the purchase, the insider now owns 15,000 shares of the company’s stock, valued at $83,250. This represents a 50.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased 31,495 shares of company stock valued at $167,062 in the last 90 days. 7.30% of the stock is currently owned by insiders.

Institutional Trading of Culp

Several institutional investors and hedge funds have recently modified their holdings of CULP. Geode Capital Management LLC lifted its holdings in shares of Culp by 14.1% in the 3rd quarter. Geode Capital Management LLC now owns 103,825 shares of the textile maker’s stock worth $680,000 after purchasing an additional 12,830 shares in the last quarter. Citadel Advisors LLC lifted its stake in shares of Culp by 36.8% in the fourth quarter. Citadel Advisors LLC now owns 27,441 shares of the textile maker’s stock valued at $161,000 after buying an additional 7,386 shares in the last quarter. Northern Trust Corp grew its holdings in shares of Culp by 35.2% during the fourth quarter. Northern Trust Corp now owns 56,182 shares of the textile maker’s stock valued at $330,000 after buying an additional 14,634 shares during the last quarter. Ameriprise Financial Inc. grew its holdings in shares of Culp by 8.4% during the fourth quarter. Ameriprise Financial Inc. now owns 541,905 shares of the textile maker’s stock valued at $3,181,000 after buying an additional 42,216 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Culp by 1.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 537,726 shares of the textile maker’s stock worth $3,156,000 after acquiring an additional 5,091 shares in the last quarter. 75.05% of the stock is currently 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.