Grace & White Inc. NY Decreases Holdings in Culp, Inc. (NYSE:CULP)

Grace & White Inc. NY trimmed its position in shares of Culp, Inc. (NYSE:CULP) by 18.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 146,162 shares of the textile maker’s stock after selling 33,269 shares during the period. Grace & White Inc. NY owned about 1.17% of Culp worth $846,000 as of its most recent SEC filing.

Separately, Assenagon Asset Management S.A. bought a new position in Culp during the 3rd quarter worth approximately $68,000. 75.05% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, StockNews.com began coverage on Culp in a research report on Saturday. They set a “hold” rating on the stock.

Culp Stock Performance

CULP traded up $0.12 on Tuesday, hitting $4.55. 9,782 shares of the company were exchanged, compared to its average volume of 20,638. The stock has a market capitalization of $56.74 million, a PE ratio of -4.03 and a beta of 1.29. Culp, Inc. has a 12 month low of $4.20 and a 12 month high of $5.99. The firm has a fifty day simple moving average of $4.72 and a two-hundred day simple moving average of $5.15.

Culp (NYSE:CULP) last issued its quarterly earnings data on Wednesday, March 6th. The textile maker reported ($0.26) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.10). The business had revenue of $60.42 million during the quarter, compared to the consensus estimate of $58.98 million. Culp had a negative return on equity of 15.58% and a negative net margin of 5.75%. On average, equities analysts expect that Culp, Inc. will post -1.09 earnings per share for the current year.

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.