Culp, Inc. (NYSE:CULP) Major Shareholder Aron R. English Purchases 9,006 Shares of Stock

Culp, Inc. (NYSE:CULP) major shareholder Aron R. English bought 9,006 shares of the firm’s stock in a transaction that occurred on Friday, March 14th. The shares were acquired at an average price of $5.08 per share, with a total value of $45,750.48. Following the acquisition, the insider now owns 1,730,103 shares of the company’s stock, valued at $8,788,923.24. This represents a 0.52 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Culp Price Performance

CULP stock opened at $5.18 on Tuesday. Culp, Inc. has a 1 year low of $4.20 and a 1 year high of $6.85. The firm has a 50-day moving average of $5.30 and a 200 day moving average of $5.46. The company has a market cap of $64.99 million, a P/E ratio of -3.08 and a beta of 1.06.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Geode Capital Management LLC boosted its position in shares of Culp by 14.1% during the third quarter. Geode Capital Management LLC now owns 103,825 shares of the textile maker’s stock valued at $680,000 after purchasing an additional 12,830 shares in the last quarter. Citadel Advisors LLC boosted its holdings in shares of Culp by 36.8% during the 4th quarter. Citadel Advisors LLC now owns 27,441 shares of the textile maker’s stock valued at $161,000 after buying an additional 7,386 shares in the last quarter. Northern Trust Corp grew its position in shares of Culp by 35.2% in the 4th quarter. Northern Trust Corp now owns 56,182 shares of the textile maker’s stock worth $330,000 after buying an additional 14,634 shares during the period. Wealthedge Investment Advisors LLC bought a new position in shares of Culp in the 4th quarter worth about $137,000. Finally, Ameriprise Financial Inc. lifted its position in Culp by 8.4% during the 4th quarter. Ameriprise Financial Inc. now owns 541,905 shares of the textile maker’s stock valued at $3,181,000 after acquiring an additional 42,216 shares during the period. Institutional investors own 75.05% of the company’s stock.

Analysts Set New Price Targets

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