Culp (NYSE:CULP) CEO Purchases $18,423.72 in Stock

Culp, Inc. (NYSE:CULP) CEO Robert George Iv Culp purchased 4,874 shares of the stock in a transaction dated Friday, September 18th. The shares were bought at an average price of $3.78 per share, with a total value of $18,423.72. Following the completion of the acquisition, the chief executive officer directly owned 133,959 shares of the company’s stock, valued at approximately $506,365.02. This represents a 3.78% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Robert George Iv Culp also recently made the following trade(s):

• On Thursday, July 9th, Robert George Iv Culp acquired 2,768 shares of Culp stock. The shares were purchased at an average cost of $3.33 per share, for a total transaction of $9,217.44.

Culp Price Performance

CULP stock traded down $0.07 during midday trading on Monday, reaching $3.56. 83,478 shares of the stock were exchanged, compared to its average volume of 48,239. The stock has a market capitalization of $45.40 million, a PE ratio of -4.15 and a beta of 1.19. Culp, Inc. has a 52 week low of $2.70 and a 52 week high of $4.75. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.76 and a quick ratio of 0.79. The company has a fifty day moving average price of $3.52 and a 200 day moving average price of $3.24.

Culp (NYSE:CULP) last posted its earnings results on Wednesday, September 9th. The textile maker reported $0.47 EPS for the quarter, beating the consensus estimate of $0.44 by $0.03. The firm 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 hedge funds and other institutional investors have recently made changes to their positions in CULP. BlackRock Inc. acquired a new stake in shares of Culp in the 2nd quarter worth about $863,000. Bank of New York Mellon Corp bought a new stake in Culp during the 2nd quarter worth approximately $158,000. Grace & White Inc. NY increased its holdings in Culp by 24.7% during the 1st quarter. Grace & White Inc. NY now owns 150,763 shares of the textile maker’s stock worth $413,000 after purchasing an additional 29,845 shares in the last quarter. Finally, Hsbc Holdings PLC purchased a new stake in shares of Culp in the second quarter worth approximately $47,000. 75.05% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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