StockNews.com Begins Coverage on Culp (NYSE:CULP)

StockNews.com assumed coverage on shares of Culp (NYSE:CULP) in a report released on Friday morning. The brokerage issued a hold rating on the textile maker’s stock.

Culp Price Performance

CULP opened at $5.27 on Friday. The business has a fifty day moving average price of $5.66 and a 200 day moving average price of $5.08. Culp has a 12 month low of $4.25 and a 12 month high of $6.85. The stock has a market capitalization of $65.82 million, a price-to-earnings ratio of -3.71 and a beta of 1.22.

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

Insider Buying and Selling

In related news, major shareholder Aron R. English purchased 7,652 shares of the company’s stock in a transaction on Monday, September 9th. The shares were bought at an average cost of $5.39 per share, for a total transaction of $41,244.28. Following the completion of the purchase, the insider now directly owns 1,347,366 shares of the company’s stock, valued at approximately $7,262,302.74. This trade represents a 0.57 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Sharon A. Decker acquired 5,000 shares of Culp stock in a transaction dated Thursday, September 26th. The shares were bought at an average price of $5.99 per share, with a total value of $29,950.00. Following the transaction, the director now directly owns 45,383 shares in the company, valued at approximately $271,844.17. The trade was a 12.38 % increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 238,959 shares of company stock worth $1,440,336. Corporate insiders own 7.30% of the company’s stock.

Hedge Funds Weigh In On Culp

An institutional investor recently raised its position in Culp stock. Vanguard Group Inc. boosted its holdings in shares of Culp, Inc. (NYSE:CULP) by 4.2% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 485,420 shares of the textile maker’s stock after purchasing an additional 19,640 shares during the period. Vanguard Group Inc. owned approximately 3.89% of Culp worth $2,330,000 as of its most recent filing with the SEC. Institutional investors 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.