Culp (NYSE:CULP) Earns Hold Rating from Analysts at StockNews.com

StockNews.com initiated coverage on shares of Culp (NYSE:CULP) in a report released on Sunday morning. The firm issued a hold rating on the textile maker’s stock.

Culp Stock Performance

NYSE:CULP opened at $5.18 on Friday. The firm has a market cap of $64.70 million, a price-to-earnings ratio of -3.08 and a beta of 1.20. Culp has a 52 week low of $4.25 and a 52 week high of $6.85. The firm has a 50-day moving average price of $5.45 and a two-hundred day moving average price of $5.13.

Insider Transactions at Culp

In related news, Director Sharon A. Decker acquired 5,000 shares of the company’s stock in a transaction dated Thursday, September 26th. The stock was bought at an average cost of $5.99 per share, with a total value of $29,950.00. Following the acquisition, the director now owns 45,383 shares of the company’s stock, valued at approximately $271,844.17. The trade was a 12.38 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Aron R. English bought 105,242 shares of the firm’s stock in a transaction that occurred on Thursday, September 19th. The stock was acquired at an average price of $6.31 per share, for a total transaction of $664,077.02. Following the transaction, the insider now owns 1,594,390 shares in the company, valued at $10,060,600.90. This trade represents a 7.07 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased a total of 217,726 shares of company stock worth $1,318,308 in the last quarter. Insiders own 7.30% of the company’s stock.

Hedge Funds Weigh In On Culp

A hedge fund recently raised its stake in Culp stock. Vanguard Group Inc. grew its stake in shares of Culp, Inc. (NYSE:CULP) by 4.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 485,420 shares of the textile maker’s stock after purchasing an additional 19,640 shares during the period. Vanguard Group Inc. owned approximately 3.89% of Culp worth $2,330,000 as of its most recent SEC filing. 75.05% of the stock is currently owned by hedge funds and other institutional investors.

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.