Equities researchers at StockNews.com assumed coverage on shares of Culp (NYSE:CULP - Get Free Report) in a research report issued to clients and investors on Friday. The firm set a "hold" rating on the textile maker's stock.
Culp Stock Down 3.8 %
CULP stock opened at $5.03 on Friday. The business has a fifty day moving average of $5.32 and a two-hundred day moving average of $5.45. The stock has a market cap of $63.17 million, a price-to-earnings ratio of -2.99 and a beta of 1.06. Culp has a 52-week low of $4.20 and a 52-week high of $6.85.
Insiders Place Their Bets
In other news, insider Mary Elizabeth Hunsberger acquired 5,000 shares of the company's stock in a transaction dated Monday, December 16th. The stock was acquired at an average cost of $5.55 per share, with a total value of $27,750.00. Following the completion of the purchase, the insider now owns 15,000 shares of the company's stock, valued at $83,250. This represents a 50.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder Aron R. English acquired 6,077 shares of the company's stock in a transaction dated Wednesday, March 12th. The stock was purchased at an average cost of $5.05 per share, with a total value of $30,688.85. Following the completion of the purchase, the insider now directly owns 1,711,304 shares of the company's stock, valued at approximately $8,642,085.20. This represents a 0.36 % increase in their position. The disclosure for this purchase can be found here. Insiders acquired a total of 46,827 shares of company stock valued at $234,598 over the last quarter. 7.30% of the stock is owned by insiders.
Institutional Investors Weigh In On Culp
A number of institutional investors have recently modified their holdings of the company. 22NW LP grew its stake in shares of Culp by 1.9% in the fourth quarter. 22NW LP now owns 1,624,715 shares of the textile maker's stock valued at $9,537,000 after buying an additional 30,325 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in Culp by 8.4% in the fourth quarter. Ameriprise Financial Inc. now owns 541,905 shares of the textile maker's stock valued at $3,181,000 after purchasing an additional 42,216 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Culp by 1.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 537,726 shares of the textile maker's stock valued at $3,156,000 after purchasing an additional 5,091 shares during the period. Geode Capital Management LLC boosted its holdings in Culp by 14.1% in the third quarter. Geode Capital Management LLC now owns 103,825 shares of the textile maker's stock valued at $680,000 after purchasing an additional 12,830 shares during the period. Finally, Northern Trust Corp boosted its holdings in Culp by 35.2% in the fourth quarter. Northern Trust Corp now owns 56,182 shares of the textile maker's stock valued at $330,000 after purchasing an additional 14,634 shares during the period. 75.05% of the stock is owned by institutional investors and hedge funds.
About Culp
(
Get Free Report)
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.
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