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

Culp, Inc. (NYSE:CULP) CFO Mary Elizabeth Hunsberger bought 5,000 shares of the stock in a transaction dated Tuesday, September 22nd. The shares were acquired at an average cost of $3.60 per share, for a total transaction of $18,000.00. Following the completion of the acquisition, the chief financial officer directly owned 38,028 shares of the company’s stock, valued at approximately $136,900.80. This trade represents a 15.14% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Culp Stock Performance

Shares of CULP stock opened at $3.60 on Wednesday. The company has a current ratio of 1.76, a quick ratio of 0.79 and a debt-to-equity ratio of 0.13. The stock has a market cap of $45.85 million, a P/E ratio of -4.19 and a beta of 1.19. The stock has a 50 day simple moving average of $3.52 and a 200 day simple moving average of $3.24. Culp, Inc. has a 1 year low of $2.70 and a 1 year high of $4.75.

Culp (NYSE:CULP) last posted its quarterly earnings data on Wednesday, September 9th. The textile maker reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.03. The firm had revenue of $53.97 million for the quarter, compared to analyst estimates of $53.20 million. Culp had a negative return on equity of 12.53% and a negative net margin of 5.24%.

Analysts Set New Price Targets

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

Institutional Investors Weigh In On Culp

A number of hedge funds have recently added to or reduced their stakes in CULP. BlackRock Inc. bought a new position in shares of Culp during the 2nd quarter worth approximately $863,000. Grace & White Inc. NY increased its stake in shares of Culp by 24.7% in the 1st quarter. Grace & White Inc. NY now owns 150,763 shares of the textile maker’s stock valued at $413,000 after acquiring an additional 29,845 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in shares of Culp in the 2nd quarter valued at $158,000. Finally, Hsbc Holdings PLC acquired a new position in shares of Culp during the 2nd quarter valued at $47,000. 75.05% of the stock is currently owned by institutional investors.

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.