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

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

Culp Stock Up 0.5 %

Shares of NYSE:CULP opened at $5.34 on Tuesday. The business has a fifty day moving average of $5.50 and a two-hundred day moving average of $5.42. The stock has a market cap of $67.01 million, a P/E ratio of -3.18 and a beta of 1.16. Culp has a 52-week low of $4.25 and a 52-week high of $6.85.

Culp (NYSE:CULP) last issued its earnings results on Wednesday, December 4th. The textile maker reported ($0.29) earnings per share (EPS) for the quarter. Culp had a negative net margin of 9.43% and a negative return on equity of 22.50%.

Insider Buying and Selling at Culp

In other Culp news, CEO Robert George Iv Culp purchased 8,508 shares of the stock in a transaction dated Tuesday, December 10th. The stock was acquired at an average cost of $5.42 per share, for a total transaction of $46,113.36. Following the acquisition, the chief executive officer now owns 78,029 shares in the company, valued at $422,917.18. This trade represents a 12.24 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mary Elizabeth Hunsberger purchased 5,000 shares of the stock in a transaction dated Monday, December 16th. The shares were acquired at an average price of $5.55 per share, with a total value of $27,750.00. Following the completion of the acquisition, the insider now owns 15,000 shares in the company, valued at approximately $83,250. This trade represents a 50.00 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 31,495 shares of company stock worth $167,062 in the last three months. 7.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Culp

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. 22NW LP boosted its holdings in Culp by 1.9% during the 4th quarter. 22NW LP now owns 1,624,715 shares of the textile maker’s stock valued at $9,537,000 after acquiring an additional 30,325 shares during the period. Ameriprise Financial Inc. boosted its holdings in Culp by 8.4% during the 4th quarter. Ameriprise Financial Inc. now owns 541,905 shares of the textile maker’s stock valued at $3,181,000 after acquiring an additional 42,216 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Culp by 1.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 537,726 shares of the textile maker’s stock valued at $3,156,000 after acquiring an additional 5,091 shares during the period. Geode Capital Management LLC boosted its holdings in Culp by 14.1% during the 3rd quarter. Geode Capital Management LLC now owns 103,825 shares of the textile maker’s stock valued at $680,000 after acquiring an additional 12,830 shares during the period. Finally, Northern Trust Corp boosted its holdings in Culp by 35.2% during the 4th quarter. Northern Trust Corp now owns 56,182 shares of the textile maker’s stock valued at $330,000 after acquiring an additional 14,634 shares during the period. 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.