Mary Elizabeth Hunsberger Acquires 5,000 Shares of Culp (NYSE:CULP) Stock

Culp, Inc. (NYSE:CULP) CFO Mary Elizabeth Hunsberger acquired 5,000 shares of the firm’s stock in a transaction dated Tuesday, September 22nd. The shares were acquired at an average price of $3.60 per share, with a total value of $18,000.00. Following the acquisition, the chief financial officer owned 38,028 shares in the company, valued at approximately $136,900.80. The trade was a 15.14% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link.

Culp Stock Performance

NYSE:CULP remained flat at $3.60 during mid-day trading on Tuesday. The company had a trading volume of 39,260 shares, compared to its average volume of 48,947. The stock has a fifty day moving average of $3.52 and a two-hundred day moving average of $3.24. The company has a quick ratio of 0.79, a current ratio of 1.76 and a debt-to-equity ratio of 0.13. Culp, Inc. has a 12 month low of $2.70 and a 12 month high of $4.75. The company has a market cap of $45.85 million, a P/E ratio of -4.19 and a beta of 1.19.

Culp (NYSE:CULP) last issued its quarterly earnings results on Wednesday, September 9th. The textile maker reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.03. The business had revenue of $53.97 million during the quarter, compared to the consensus estimate of $53.20 million. Culp had a negative return on equity of 12.53% and a negative net margin of 5.24%.

Institutional Investors Weigh In On Culp

Several institutional investors have recently bought and sold shares of the company. BlackRock Inc. purchased a new stake in Culp during the 2nd quarter worth approximately $863,000. Grace & White Inc. NY increased its position in shares of Culp by 24.7% in the first quarter. Grace & White Inc. NY now owns 150,763 shares of the textile maker’s stock valued at $413,000 after buying an additional 29,845 shares in the last quarter. Bank of New York Mellon Corp purchased a new position in shares of Culp in the second quarter valued at approximately $158,000. Finally, Hsbc Holdings PLC acquired a new stake in Culp during the second quarter worth $47,000. 75.05% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Zacks Research downgraded shares of Culp from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 7th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Reduce”.

Culp Company Profile

Culp, Inc is a manufacturer and marketer of mattress fabrics and upholstery fabrics. The company supplies textile products used by bedding manufacturers, furniture producers, and other customers in residential, commercial, hospitality, and related end markets.

Through its Mattress Fabrics segment, Culp produces knitted and woven fabrics used in mattress covers, ticking, foundations, and other bedding applications. Its Upholstery Fabrics segment provides fabrics for residential furniture as well as commercial and hospitality furnishings, offering a range of designs, textures, and performance characteristics.

Founded in 1972 and headquartered in High Point, North Carolina, Culp serves customers in the United States and international markets through manufacturing and distribution operations in multiple countries.