Culp (NYSE:CULP) Now Covered by StockNews.com

StockNews.com started coverage on shares of Culp (NYSE:CULP) in a research report sent to investors on Monday morning. The brokerage issued a hold rating on the textile maker’s stock.

Culp Stock Performance

Shares of NYSE CULP opened at $5.73 on Monday. The company’s 50 day moving average price is $5.62 and its 200-day moving average price is $4.97. Culp has a 52-week low of $4.25 and a 52-week high of $6.85. The company has a market capitalization of $71.45 million, a P/E ratio of -5.16 and a beta of 1.19.

Culp (NYSE:CULP) last announced its earnings results on Wednesday, September 4th. The textile maker reported ($0.37) earnings per share for the quarter. The firm had revenue of $56.54 million for the quarter. Culp had a negative return on equity of 19.51% and a negative net margin of 7.88%.

Insider Activity at Culp

In other Culp news, CEO Robert George Iv Culp bought 16,128 shares of the stock in a transaction on Monday, September 9th. The stock was acquired at an average cost of $5.71 per share, for a total transaction of $92,090.88. Following the completion of the acquisition, the chief executive officer now owns 69,521 shares in the company, valued at $396,964.91. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. In related news, major shareholder Aron R. English acquired 7,652 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were purchased at an average price of $5.39 per share, for a total transaction of $41,244.28. Following the completion of the acquisition, the insider now owns 1,347,366 shares of the company’s stock, valued at approximately $7,262,302.74. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Robert George Iv Culp acquired 16,128 shares of the business’s stock in a transaction dated Monday, September 9th. The shares were bought at an average cost of $5.71 per share, for a total transaction of $92,090.88. Following the transaction, the chief executive officer now directly owns 69,521 shares in the company, valued at approximately $396,964.91. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired a total of 238,959 shares of company stock worth $1,440,336 in the last 90 days. Corporate insiders own 6.60% of the company’s stock.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Culp stock. Vanguard Group Inc. grew its position 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 institutional investor owned 485,420 shares of the textile maker’s stock after acquiring an additional 19,640 shares during the quarter. Vanguard Group Inc. owned about 3.89% of Culp worth $2,330,000 as of its most recent filing with the Securities & Exchange Commission. 75.05% of the stock is owned by 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.