Culp (NYSE:CULP) Coverage Initiated at StockNews.com

Equities researchers at StockNews.com began coverage on shares of Culp (NYSE:CULP) in a research report issued on Sunday. The firm set a “hold” rating on the textile maker’s stock.

Culp Price Performance

NYSE CULP opened at $4.97 on Friday. Culp has a 1-year low of $4.25 and a 1-year high of $6.85. The stock has a 50-day moving average of $5.45 and a two-hundred day moving average of $5.13. The company has a market cap of $62.08 million, a P/E ratio of -2.96 and a beta of 1.20.

Insider Transactions at Culp

In related news, Director Sharon A. Decker acquired 5,000 shares of the firm’s stock in a transaction on Thursday, September 26th. The stock was bought at an average cost of $5.99 per share, with a total value of $29,950.00. Following the transaction, the director now owns 45,383 shares of the company’s stock, valued at $271,844.17. The trade was a 12.38 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Aron R. English purchased 102,484 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The shares were purchased at an average cost of $5.85 per share, with a total value of $599,531.40. Following the completion of the acquisition, the insider now directly owns 1,456,827 shares of the company’s stock, valued at $8,522,437.95. This represents a 7.57 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 215,179 shares of company stock worth $1,307,001. 7.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Culp

A hedge fund recently raised its stake in Culp stock. Vanguard Group Inc. grew its stake in shares of Culp, Inc. (NYSE:CULP) by 4.2% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 485,420 shares of the textile maker’s stock after buying an additional 19,640 shares during the period. Vanguard Group Inc. owned 3.89% of Culp worth $2,330,000 as of its most recent SEC filing. 75.05% of the stock is currently owned by hedge funds and other 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.