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

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

Culp Stock Performance

NYSE:CULP opened at $5.06 on Friday. The company’s 50-day simple moving average is $5.25 and its 200-day simple moving average is $5.47. Culp has a fifty-two week low of $4.20 and a fifty-two week high of $6.85. The stock has a market capitalization of $63.52 million, a P/E ratio of -3.01 and a beta of 1.06.

Insider Transactions at Culp

In related news, major shareholder Aron R. English acquired 13,849 shares of the business’s stock in a transaction dated Monday, March 10th. The shares were purchased at an average price of $4.65 per share, for a total transaction of $64,397.85. Following the completion of the acquisition, the insider now directly owns 1,638,564 shares in the company, valued at $7,619,322.60. The trade was a 0.85 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Robert George Iv Culp acquired 14,001 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The stock was bought at an average cost of $4.94 per share, with a total value of $69,164.94. Following the completion of the transaction, the chief executive officer now directly owns 92,030 shares in the company, valued at $454,628.20. The trade was a 17.94 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 67,403 shares of company stock valued at $345,152. Corporate insiders own 7.30% of the company’s stock.

Institutional Investors Weigh In On Culp

A number of large investors have recently made changes to their positions in CULP. Dimensional Fund Advisors LP raised its stake in Culp by 1.0% in the 4th 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 during the last quarter. Citadel Advisors LLC increased its holdings 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 purchasing an additional 7,386 shares during the period. HighTower Advisors LLC increased 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 during the period. Geode Capital Management LLC raised its stake 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 purchasing an additional 12,830 shares during the last quarter. Finally, Northern Trust Corp lifted 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 worth $330,000 after purchasing an additional 14,634 shares during the period. 75.05% of the stock is 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.