Culp, Inc. (NYSE:CULP) Major Shareholder Buys $112,000.00 in Stock

Culp, Inc. (NYSE:CULP) major shareholder Aron R. English acquired 20,000 shares of the firm’s stock in a transaction on Wednesday, March 19th. The shares were bought at an average cost of $5.60 per share, for a total transaction of $112,000.00. Following the completion of the acquisition, the insider now owns 1,859,061 shares of the company’s stock, valued at approximately $10,410,741.60. This represents a 1.09 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Culp Stock Up 0.5 %

CULP opened at $5.36 on Friday. The company has a market cap of $67.25 million, a price-to-earnings ratio of -3.19 and a beta of 1.06. Culp, Inc. has a 52-week low of $4.20 and a 52-week high of $6.85. The firm’s fifty day simple moving average is $5.28 and its two-hundred day simple moving average is $5.47.

Institutional Investors Weigh In On Culp

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Geode Capital Management LLC boosted its stake in Culp by 14.1% during the 3rd quarter. Geode Capital Management LLC now owns 103,825 shares of the textile maker’s stock worth $680,000 after purchasing an additional 12,830 shares during the last quarter. Citadel Advisors LLC boosted its stake in Culp by 36.8% during the 4th quarter. Citadel Advisors LLC now owns 27,441 shares of the textile maker’s stock worth $161,000 after purchasing an additional 7,386 shares during the last quarter. Northern Trust Corp boosted its stake in Culp by 35.2% during the 4th quarter. Northern Trust Corp now owns 56,182 shares of the textile maker’s stock worth $330,000 after purchasing an additional 14,634 shares during the last quarter. Wealthedge Investment Advisors LLC acquired a new stake in Culp during the 4th quarter worth $137,000. Finally, Ameriprise Financial Inc. boosted its stake in Culp by 8.4% during the 4th quarter. Ameriprise Financial Inc. now owns 541,905 shares of the textile maker’s stock worth $3,181,000 after purchasing an additional 42,216 shares during the last quarter. Institutional investors and hedge funds own 75.05% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com assumed coverage on shares of Culp in a report on Saturday. 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.