Culp, Inc. (NYSE:CULP) Major Shareholder Purchases $45,750.48 in Stock

Culp, Inc. (NYSE:CULP) major shareholder Aron R. English bought 9,006 shares of the company’s stock in a transaction on Friday, March 14th. The stock was bought at an average cost of $5.08 per share, for a total transaction of $45,750.48. Following the completion of the acquisition, the insider now directly owns 1,730,103 shares of the company’s stock, valued at approximately $8,788,923.24. This represents a 0.52 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Culp Stock Up 0.7 %

NYSE:CULP opened at $5.18 on Tuesday. The stock has a market cap of $64.99 million, a price-to-earnings ratio of -3.08 and a beta of 1.06. The company’s 50 day moving average price is $5.30 and its 200-day moving average price is $5.46. Culp, Inc. has a 52 week low of $4.20 and a 52 week high of $6.85.

Institutional Trading of Culp

Institutional investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC lifted its holdings 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 raised its position in Culp by 36.8% in the 4th quarter. Citadel Advisors LLC now owns 27,441 shares of the textile maker’s stock worth $161,000 after buying an additional 7,386 shares during the last quarter. Northern Trust Corp lifted 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 valued at $330,000 after acquiring an additional 14,634 shares during the period. Wealthedge Investment Advisors LLC purchased a new stake in shares of Culp during the 4th quarter valued at about $137,000. Finally, Ameriprise Financial Inc. grew its stake in shares of Culp by 8.4% in the fourth quarter. Ameriprise Financial Inc. now owns 541,905 shares of the textile maker’s stock worth $3,181,000 after acquiring an additional 42,216 shares during the period. 75.05% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com began coverage on shares of Culp in a research note on Friday. They issued 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.