StockNews.com Initiates 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 Trading Down 2.2 %

CULP traded down $0.12 on Tuesday, reaching $5.18. The stock had a trading volume of 20,462 shares, compared to its average volume of 17,581. Culp has a fifty-two week low of $4.25 and a fifty-two week high of $6.85. The firm has a 50-day moving average of $5.49 and a 200-day moving average of $5.42. The company has a market capitalization of $65.00 million, a price-to-earnings ratio of -3.08 and a beta of 1.16.

Culp (NYSE:CULP - Get Free Report) last issued its quarterly earnings results on Wednesday, December 4th. The textile maker reported ($0.29) earnings per share for the quarter. Culp had a negative net margin of 9.43% and a negative return on equity of 22.50%.

Insider Activity

In other Culp news, CEO Robert George Iv Culp bought 8,508 shares of the firm's stock in a transaction that occurred on Tuesday, December 10th. The stock was acquired at an average price of $5.42 per share, with a total value of $46,113.36. Following the completion of the purchase, the chief executive officer now directly owns 78,029 shares of the company's stock, valued at approximately $422,917.18. This trade represents a 12.24 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Mary Elizabeth Hunsberger purchased 5,000 shares of the business's stock in a transaction on Monday, December 16th. The stock was purchased at an average price of $5.55 per share, for a total transaction of $27,750.00. Following the acquisition, the insider now owns 15,000 shares of the company's stock, valued at approximately $83,250. This represents a 50.00 % increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 31,495 shares of company stock valued at $167,062. Company insiders own 7.30% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. 22NW LP lifted its holdings 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 purchasing an additional 30,325 shares in the last quarter. Ameriprise Financial Inc. grew 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 purchasing an additional 42,216 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of 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 in the last quarter. Geode Capital Management LLC grew its position 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 purchasing an additional 12,830 shares in the last quarter. Finally, Northern Trust Corp grew its position in shares of 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 in the last quarter. Institutional investors own 75.05% of the company's stock.

About Culp

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.