Culp (NYSE:CULP) Coverage Initiated by Analysts at StockNews.com

StockNews.com initiated coverage on shares of Culp (NYSE:CULP) in a research note released on Monday. The firm issued a hold rating on the textile maker’s stock.

Culp Stock Performance

Shares of Culp stock opened at $5.34 on Monday. The firm has a 50-day simple moving average of $5.39 and a two-hundred day simple moving average of $5.17. Culp has a fifty-two week low of $4.25 and a fifty-two week high of $6.85. The company has a market cap of $67.07 million, a P/E ratio of -3.18 and a beta of 1.20.

Insiders Place Their Bets

In related news, major shareholder Aron R. English purchased 105,242 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The stock was bought at an average price of $6.31 per share, with a total value of $664,077.02. Following the acquisition, the insider now owns 1,594,390 shares in the company, valued at $10,060,600.90. The trade was a 7.07 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Robert George Iv Culp acquired 8,508 shares of the firm’s stock in a transaction on Tuesday, December 10th. The shares were bought at an average cost of $5.42 per share, for a total transaction of $46,113.36. Following the completion of the acquisition, the chief executive officer now owns 78,029 shares of the company’s stock, valued at approximately $422,917.18. This represents a 12.24 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 128,837 shares of company stock worth $790,743. 7.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Culp

An institutional investor recently raised its position in Culp stock. Vanguard Group Inc. grew its holdings in shares of Culp, Inc. (NYSE:CULP) by 4.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 485,420 shares of the textile maker’s stock after purchasing an additional 19,640 shares during the quarter. Vanguard Group Inc. owned approximately 3.89% of Culp worth $2,330,000 at the end of the most recent quarter. Institutional investors and hedge funds own 75.05% 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.