StockNews.com Begins Coverage on Culp (NYSE:CULP)

Stock analysts at StockNews.com assumed coverage on shares of Culp (NYSE:CULP - Get Free Report) in a research report issued on Thursday. The brokerage set a "hold" rating on the textile maker's stock.

Culp Stock Up 2.2 %

NYSE:CULP traded up $0.11 during trading hours on Thursday, reaching $5.03. The company had a trading volume of 13,318 shares, compared to its average volume of 20,531. The stock has a 50-day moving average of $5.73 and a two-hundred day moving average of $5.05. Culp has a one year low of $4.25 and a one year high of $6.85. The firm has a market capitalization of $62.82 million, a PE ratio of -3.42 and a beta of 1.22.

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

Insider Activity

In related news, CEO Robert George Iv Culp acquired 16,128 shares of the firm's stock in a transaction 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 acquisition, the chief executive officer now directly owns 69,521 shares in the company, valued at $396,964.91. The trade was a 30.21 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. In other news, major shareholder Aron R. English purchased 105,242 shares of the firm's stock in a transaction that occurred on Thursday, September 19th. The shares were acquired at an average price of $6.31 per share, for a total transaction of $664,077.02. Following the completion of the acquisition, the insider now directly owns 1,594,390 shares in the company, valued at approximately $10,060,600.90. The trade was a 7.07 % 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 hyperlink. Also, CEO Robert George Iv Culp bought 16,128 shares of Culp stock in a transaction dated Monday, September 9th. The stock was acquired at an average cost of $5.71 per share, for a total transaction of $92,090.88. Following the purchase, the chief executive officer now directly owns 69,521 shares in the company, valued at approximately $396,964.91. The trade was a 30.21 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 238,959 shares of company stock worth $1,440,336. 7.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Culp

A hedge fund recently raised its stake in Culp stock. Vanguard Group Inc. grew its stake in Culp, Inc. (NYSE:CULP - Free Report) by 4.2% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 485,420 shares of the textile maker's stock after purchasing an additional 19,640 shares during the quarter. Vanguard Group Inc. owned about 3.89% of Culp worth $2,330,000 at the end of the most recent reporting period. 75.05% of the stock is currently owned by institutional investors.

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.