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

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

Culp Stock Down 2.9 %

Shares of Culp stock traded down $0.16 during mid-day trading on Tuesday, reaching $5.37. 5,810 shares of the stock traded hands, compared to its average volume of 20,790. The business has a 50-day moving average of $5.65 and a 200 day moving average of $4.99. Culp has a fifty-two week low of $4.25 and a fifty-two week high of $6.85. The stock has a market capitalization of $66.96 million, a PE ratio of -4.97 and a beta of 1.19.

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

Insider Activity at Culp

In related news, Director Sharon A. Decker purchased 5,000 shares of the business's stock in a transaction that occurred on Thursday, September 26th. The stock was purchased at an average price of $5.99 per share, with a total value of $29,950.00. Following the completion of the acquisition, the director now owns 45,383 shares in the company, valued at $271,844.17. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. In other Culp news, CEO Robert George Iv Culp acquired 16,128 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was bought at an average cost of $5.71 per share, for a total transaction of $92,090.88. Following the completion of the transaction, the chief executive officer now owns 69,521 shares of the company's stock, valued at approximately $396,964.91. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Sharon A. Decker acquired 5,000 shares of the stock in a transaction that occurred on Thursday, September 26th. The stock was acquired at an average price of $5.99 per share, with a total value of $29,950.00. Following the completion of the transaction, the director now directly owns 45,383 shares of the company's stock, valued at $271,844.17. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 238,959 shares of company stock valued at $1,440,336. 6.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Culp stock. Vanguard Group Inc. raised its position in shares of Culp, Inc. (NYSE:CULP - Free Report) by 4.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 485,420 shares of the textile maker's stock after buying an additional 19,640 shares during the period. Vanguard Group Inc. owned about 3.89% of Culp worth $2,330,000 as of its most recent filing with the Securities & Exchange Commission. Hedge funds and other institutional investors 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.