Aron R. English Buys 20,000 Shares of Culp, Inc. (NYSE:CULP) Stock

Culp, Inc. (NYSE:CULP - Get Free Report) major shareholder Aron R. English bought 20,000 shares of the stock in a transaction on Wednesday, March 19th. The shares were acquired at an average cost of $5.60 per share, for a total transaction of $112,000.00. Following the completion of the transaction, the insider now directly owns 1,859,061 shares of the company's stock, valued at approximately $10,410,741.60. The trade was a 1.09 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Major shareholders that own 10% or more of a company's shares are required to disclose their sales and purchases with the SEC.

Culp Price Performance

Shares of NYSE CULP traded down $0.10 during trading hours on Monday, hitting $5.27. 5,138 shares of the stock were exchanged, compared to its average volume of 21,062. The firm has a market capitalization of $66.19 million, a P/E ratio of -3.14 and a beta of 1.06. Culp, Inc. has a one year low of $4.20 and a one year high of $6.85. The company's 50 day moving average is $5.28 and its 200 day moving average is $5.48.

Institutional Trading of Culp

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Ameriprise Financial Inc. boosted its position in shares of 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 acquiring an additional 42,216 shares during the period. 22NW LP boosted its holdings in Culp by 1.9% in the 4th quarter. 22NW LP now owns 1,624,715 shares of the textile maker's stock valued at $9,537,000 after purchasing an additional 30,325 shares during the period. Wealthedge Investment Advisors LLC acquired a new stake in Culp in the 4th quarter worth $137,000. Northern Trust Corp grew its position in Culp by 35.2% in the 4th quarter. Northern Trust Corp now owns 56,182 shares of the textile maker's stock worth $330,000 after purchasing an additional 14,634 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of 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 buying an additional 12,830 shares during the period. Institutional investors and hedge funds own 75.05% of the company's stock.

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Wall Street Analysts Forecast Growth

Separately, StockNews.com assumed coverage on Culp in a research report on Saturday. They set a "hold" rating for the company.

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.