Culp (NYSE:CULP) Research Coverage Started at StockNews.com

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

Culp Trading Down 2.8 %

Culp stock opened at $5.27 on Tuesday. The company has a market cap of $65.82 million, a PE ratio of -3.71 and a beta of 1.19. Culp has a 1 year low of $4.25 and a 1 year high of $6.85. The company’s 50-day moving average is $5.68 and its two-hundred day moving average is $5.00.

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

Insider Buying and Selling

In related news, Director Sharon A. Decker bought 5,000 shares of the business’s stock in a transaction on Thursday, September 26th. The shares were purchased at an average price of $5.99 per share, with a total value of $29,950.00. Following the completion of the purchase, the director now owns 45,383 shares of the company’s stock, valued at $271,844.17. This represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Culp news, major shareholder Aron R. English purchased 105,242 shares of the company’s stock in a transaction dated Thursday, September 19th. The shares were bought at an average price of $6.31 per share, with a total value of $664,077.02. Following the completion of the transaction, the insider now directly owns 1,594,390 shares in the company, valued at $10,060,600.90. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Sharon A. Decker bought 5,000 shares of the company’s stock in a transaction on Thursday, September 26th. The shares were bought at an average price of $5.99 per share, for a total transaction of $29,950.00. Following the completion of the acquisition, the director now directly owns 45,383 shares in the company, valued at approximately $271,844.17. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 238,959 shares of company stock valued at $1,440,336 over the last three months. Company insiders own 7.30% of the company’s stock.

Hedge Funds Weigh In On Culp

An institutional investor recently raised its position in Culp stock. Vanguard Group Inc. raised its position in Culp, Inc. (NYSE:CULP) by 4.2% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 485,420 shares of the textile maker’s stock after acquiring an additional 19,640 shares during the period. Vanguard Group Inc. owned about 3.89% of Culp worth $2,330,000 as of its most recent filing with the SEC. 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.