Culp (NYSE:CULP) Now Covered by Analysts at StockNews.com

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

Culp Price Performance

CULP opened at $4.09 on Friday. Culp has a one year low of $3.42 and a one year high of $6.85. The company’s 50 day simple moving average is $4.34 and its 200-day simple moving average is $4.98. The stock has a market capitalization of $51.37 million, a P/E ratio of -2.43 and a beta of 1.16.

Insider Activity

In other Culp news, CEO Robert George Iv Culp bought 14,001 shares of the company’s stock in a transaction on Monday, March 10th. The stock was bought at an average price of $4.94 per share, for a total transaction of $69,164.94. Following the transaction, the chief executive officer now owns 92,030 shares of the company’s stock, valued at approximately $454,628.20. The trade was a 17.94% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Aron R. English purchased 13,849 shares of Culp stock in a transaction dated Monday, March 10th. The stock was bought at an average price of $4.65 per share, for a total transaction of $64,397.85. Following the completion of the transaction, the insider now directly owns 1,638,564 shares in the company, valued at $7,619,322.60. The trade was a 0.85% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased 67,403 shares of company stock valued at $345,152 over the last three months. 7.30% of the stock is owned by insiders.

Hedge Funds Weigh In On Culp

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. 22NW LP raised its position in shares of Culp by 14.4% in the 1st quarter. 22NW LP now owns 1,859,061 shares of the textile maker’s stock valued at $9,295,000 after acquiring an additional 234,346 shares during the period. 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 acquiring an additional 42,216 shares during the last quarter. Wealthedge Investment Advisors LLC boosted its stake in Culp by 132.2% during the 1st quarter. Wealthedge Investment Advisors LLC now owns 54,045 shares of the textile maker’s stock worth $270,000 after acquiring an additional 30,772 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 acquiring an additional 14,634 shares during the last quarter. Finally, HighTower Advisors LLC boosted its stake in Culp by 49.5% during the 4th quarter. HighTower Advisors LLC now owns 36,046 shares of the textile maker’s stock worth $212,000 after acquiring an additional 11,929 shares during the last quarter. Institutional investors own 75.05% of the company’s stock.

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.