Culp, Inc. (NYSE:CULP) Shares Sold by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. decreased its stake in Culp, Inc. (NYSE:CULP) by 11.4% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 15,617 shares of the textile maker’s stock after selling 2,000 shares during the period. Oppenheimer & Co. Inc.’s holdings in Culp were worth $102,000 as of its most recent SEC filing.

Separately, Vanguard Group Inc. boosted its stake in Culp by 4.2% during the 1st quarter. Vanguard Group Inc. now owns 485,420 shares of the textile maker’s stock worth $2,330,000 after purchasing an additional 19,640 shares during the period. Institutional investors and hedge funds own 75.05% of the company’s stock.

Culp Price Performance

Shares of NYSE:CULP opened at $5.16 on Friday. The stock has a market cap of $64.45 million, a P/E ratio of -3.63 and a beta of 1.22. The firm has a fifty day moving average price of $5.68 and a 200 day moving average price of $5.07. Culp, Inc. has a 1-year low of $4.25 and a 1-year high of $6.85.

Culp (NYSE:CULP) last issued 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 during the quarter. Culp had a negative net margin of 7.88% and a negative return on equity of 19.51%.

Wall Street Analyst Weigh In

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

Insider Activity

In related news, Director Sharon A. Decker acquired 5,000 shares of Culp stock in a transaction that occurred on Thursday, September 26th. The stock was purchased at an average price of $5.99 per share, for a total transaction of $29,950.00. Following the completion of the purchase, the director now directly owns 45,383 shares of the company’s stock, valued at approximately $271,844.17. This trade represents a 12.38 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Robert George Iv Culp acquired 16,128 shares of Culp stock in a transaction that occurred on Monday, September 9th. The stock was bought at an average price of $5.71 per share, with a total value of $92,090.88. Following the purchase, the chief executive officer now directly owns 69,521 shares of the company’s stock, valued at approximately $396,964.91. This trade represents a 30.21 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought a total of 238,959 shares of company stock valued at $1,440,336 over the last quarter. Corporate insiders own 7.30% of the company’s stock.

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.