Culp (NYSE:CULP) Coverage Initiated at began coverage on shares of Culp (NYSE:CULPFree Report) in a research report sent to investors on Friday. The brokerage issued a hold rating on the textile maker’s stock.

Culp Stock Down 0.7 %

CULP stock opened at $4.32 on Friday. The firm has a market cap of $53.87 million, a PE ratio of -3.93 and a beta of 1.23. The business has a 50 day moving average of $4.48 and a 200-day moving average of $4.91. Culp has a 12-month low of $4.28 and a 12-month high of $5.99.

Hedge Funds Weigh In On Culp

Institutional investors have recently bought and sold shares of the company. Assenagon Asset Management S.A. purchased a new position in Culp in the third quarter valued at approximately $68,000. Essex Investment Management Co. LLC purchased a new position in Culp in the fourth quarter valued at approximately $256,000. Vanguard Group Inc. lifted its stake in Culp by 4.2% in the first quarter. Vanguard Group Inc. now owns 485,420 shares of the textile maker’s stock valued at $2,330,000 after purchasing an additional 19,640 shares during the last quarter. Finally, Gate City Capital Management LLC purchased a new position in Culp in the fourth quarter valued at approximately $6,010,000. Hedge funds and other institutional investors own 75.05% of the company’s stock.

About Culp

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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.

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