Culp (NYSE:CULP) Now Covered by StockNews.com

StockNews.com began coverage on shares of Culp (NYSE:CULP - Free Report) in a research report released on Wednesday. The brokerage issued a hold rating on the textile maker's stock.

Culp Stock Up 0.8 %

Shares of CULP stock traded up $0.04 during mid-day trading on Wednesday, hitting $5.33. 12,617 shares of the company's stock were exchanged, compared to its average volume of 20,439. Culp has a fifty-two week low of $4.25 and a fifty-two week high of $6.85. The stock has a 50-day simple moving average of $5.71 and a two-hundred day simple moving average of $5.02. The stock has a market cap of $66.57 million, a price-to-earnings ratio of -3.75 and a beta of 1.22.

Culp (NYSE:CULP - Get Free Report) last announced its earnings results on Wednesday, September 4th. The textile maker reported ($0.37) earnings per share (EPS) for the quarter. Culp had a negative return on equity of 19.51% and a negative net margin of 7.88%. The business had revenue of $56.54 million for the quarter.

Insider Transactions at Culp

In other news, CEO Robert George Iv Culp bought 16,128 shares of the company's stock in a transaction that occurred on Monday, September 9th. The shares were purchased at an average price of $5.71 per share, with a total value of $92,090.88. Following the completion of the acquisition, the chief executive officer now directly owns 69,521 shares in the company, valued at approximately $396,964.91. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Robert George Iv Culp purchased 16,128 shares of the company's stock in a transaction on Monday, September 9th. The shares were bought at an average price of $5.71 per share, with a total value of $92,090.88. Following the completion of the acquisition, the chief executive officer now owns 69,521 shares of the company's stock, valued at approximately $396,964.91. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder Aron R. English purchased 102,484 shares of the company's stock in a transaction on Tuesday, September 17th. The stock was bought at an average cost of $5.85 per share, for a total transaction of $599,531.40. Following the acquisition, the insider now directly owns 1,456,827 shares of the company's stock, valued at $8,522,437.95. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 238,959 shares of company stock worth $1,440,336. Company insiders own 7.30% of the company's stock.

Hedge Funds Weigh In On Culp

An institutional investor recently raised its position in Culp stock. Vanguard Group Inc. boosted its position in shares of Culp, Inc. (NYSE:CULP - Free Report) by 4.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 485,420 shares of the textile maker's stock after acquiring an additional 19,640 shares during the period. Vanguard Group Inc. owned 3.89% of Culp worth $2,330,000 at the end of the most recent quarter. 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.