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

StockNews.com began coverage on shares of Culp (NYSE:CULP) in a research report report published on Thursday morning. The brokerage issued a hold rating on the textile maker’s stock.

Culp Stock Performance

NYSE:CULP opened at $4.52 on Thursday. Culp has a one year low of $4.20 and a one year high of $6.85. The stock has a market cap of $56.70 million, a PE ratio of -2.69 and a beta of 1.06. The stock has a 50 day moving average price of $5.39 and a 200 day moving average price of $5.45.

Culp (NYSE:CULP) last posted its quarterly earnings results on Wednesday, December 4th. The textile maker reported ($0.29) EPS for the quarter. Culp had a negative net margin of 9.43% and a negative return on equity of 22.50%.

Insider Activity at Culp

In other Culp news, CEO Robert George Iv Culp bought 8,508 shares of the business’s stock in a transaction on Tuesday, December 10th. The stock was bought at an average price of $5.42 per share, with a total value of $46,113.36. Following the completion of the purchase, the chief executive officer now directly owns 78,029 shares in the company, valued at $422,917.18. The trade was a 12.24 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Mary Elizabeth Hunsberger bought 5,000 shares of the business’s stock in a transaction on Monday, December 16th. The shares were acquired at an average cost of $5.55 per share, with a total value of $27,750.00. Following the purchase, the insider now owns 15,000 shares of the company’s stock, valued at $83,250. The trade was a 50.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 31,495 shares of company stock valued at $167,062. 7.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Culp

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CULP. Citadel Advisors LLC boosted its position in shares of Culp by 36.8% during the fourth 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 period. HighTower Advisors LLC boosted its position in shares of Culp by 49.5% during the fourth quarter. HighTower Advisors LLC now owns 36,046 shares of the textile maker’s stock worth $212,000 after buying an additional 11,929 shares during the period. Northern Trust Corp boosted its position in shares of Culp by 35.2% during the fourth quarter. Northern Trust Corp now owns 56,182 shares of the textile maker’s stock worth $330,000 after buying an additional 14,634 shares during the period. Geode Capital Management LLC boosted its position 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 worth $680,000 after buying an additional 12,830 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in shares of Culp by 1.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 537,726 shares of the textile maker’s stock worth $3,156,000 after buying an additional 5,091 shares during the period. Institutional investors and hedge funds own 75.05% of the company’s 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.