Culp, Inc. (NYSE:CULP) Director John Allen Baugh Acquires 5,000 Shares of Stock

Culp, Inc. (NYSE:CULP) Director John Allen Baugh purchased 5,000 shares of the firm’s stock in a transaction on Monday, December 9th. The stock was acquired at an average cost of $4.95 per share, with a total value of $24,750.00. Following the transaction, the director now directly owns 47,078 shares in the company, valued at $233,036.10. This trade represents a 11.88 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which can be accessed through this link.

Culp Stock Performance

Shares of CULP opened at $5.18 on Wednesday. The stock has a 50-day simple moving average of $5.45 and a 200-day simple moving average of $5.13. The stock has a market capitalization of $64.70 million, a PE ratio of -3.08 and a beta of 1.20. Culp, Inc. has a 1 year low of $4.25 and a 1 year high of $6.85.

Wall Street Analyst Weigh In

Separately, StockNews.com initiated coverage on Culp in a research note on Sunday. They set a “hold” rating for the company.

Hedge Funds Weigh In On Culp

A hedge fund recently raised its stake in Culp stock. Vanguard Group Inc. increased its holdings in shares of Culp, Inc. (NYSE:CULP) by 4.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 485,420 shares of the textile maker’s stock after purchasing an additional 19,640 shares during the quarter. Vanguard Group Inc. owned approximately 3.89% of Culp worth $2,330,000 at the end of the most recent quarter. Institutional investors own 75.05% of the company’s stock.

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.