Culp, Inc. (NYSE:CULP) Major Shareholder Purchases $45,750.48 in Stock

Culp, Inc. (NYSE:CULP) major shareholder Aron R. English acquired 9,006 shares of Culp stock in a transaction that occurred on Friday, March 14th. The stock was acquired at an average cost of $5.08 per share, with a total value of $45,750.48. Following the purchase, the insider now directly owns 1,730,103 shares of the company’s stock, valued at $8,788,923.24. This represents a 0.52 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Culp Stock Up 2.1 %

Shares of NYSE:CULP opened at $5.61 on Thursday. The company has a market capitalization of $70.39 million, a price-to-earnings ratio of -3.34 and a beta of 1.06. Culp, Inc. has a 52 week low of $4.20 and a 52 week high of $6.85. The firm has a 50 day moving average of $5.30 and a 200 day moving average of $5.47.

Hedge Funds Weigh In On Culp

Large investors have recently bought and sold shares of the business. Geode Capital Management LLC raised its stake in 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 buying an additional 12,830 shares in the last quarter. Citadel Advisors LLC grew its holdings in Culp by 36.8% in the fourth quarter. Citadel Advisors LLC now owns 27,441 shares of the textile maker’s stock worth $161,000 after purchasing an additional 7,386 shares during the last quarter. Northern Trust Corp grew its holdings in Culp by 35.2% in 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 last quarter. Wealthedge Investment Advisors LLC purchased a new position in Culp in the fourth quarter worth $137,000. Finally, Ameriprise Financial Inc. grew its holdings in Culp by 8.4% in the fourth quarter. Ameriprise Financial Inc. now owns 541,905 shares of the textile maker’s stock worth $3,181,000 after purchasing an additional 42,216 shares during the last quarter. Institutional investors own 75.05% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com began coverage on shares of Culp in a research note on Friday, March 14th. They issued a “hold” rating for the company.

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.