Culp, Inc. (NYSE:CULP) Major Shareholder Aron R. English Buys 9,006 Shares

Culp, Inc. (NYSE:CULP) major shareholder Aron R. English bought 9,006 shares of the firm’s stock in a transaction that occurred on Friday, March 14th. The shares were purchased at an average cost of $5.08 per share, with a total value of $45,750.48. Following the purchase, the insider now directly owns 1,730,103 shares of the company’s stock, valued at approximately $8,788,923.24. This represents a 0.52 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Culp Price Performance

Shares of NYSE:CULP traded up $0.04 on Monday, reaching $5.18. 18,234 shares of the company traded hands, compared to its average volume of 20,635. The stock has a market capitalization of $64.99 million, a PE ratio of -3.08 and a beta of 1.06. The company’s 50 day moving average is $5.30 and its 200-day moving average is $5.46. Culp, Inc. has a fifty-two week low of $4.20 and a fifty-two week high of $6.85.

Analyst Upgrades and Downgrades

Separately, StockNews.com started coverage on shares of Culp in a research report on Friday. They set a “hold” rating for the company.

Hedge Funds Weigh In On Culp

Hedge funds and other institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC increased its position in shares of Culp by 14.1% in the third quarter. Geode Capital Management LLC now owns 103,825 shares of the textile maker’s stock worth $680,000 after acquiring an additional 12,830 shares in the last quarter. HighTower Advisors LLC lifted its holdings in shares of Culp by 49.5% in the fourth quarter. HighTower Advisors LLC now owns 36,046 shares of the textile maker’s stock valued at $212,000 after purchasing an additional 11,929 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Culp by 1.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 537,726 shares of the textile maker’s stock worth $3,156,000 after buying an additional 5,091 shares during the period. 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 in the last quarter. Finally, 22NW LP raised its position in Culp by 1.9% during the fourth quarter. 22NW LP now owns 1,624,715 shares of the textile maker’s stock valued at $9,537,000 after buying an additional 30,325 shares during the period. Institutional investors and hedge funds own 75.05% of the company’s stock.

Culp Company Profile

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.