Culp (NYSE:CULP) Now Covered by StockNews.com

StockNews.com started coverage on shares of Culp (NYSE:CULP - Free Report) in a report released on Thursday. The brokerage issued a hold rating on the textile maker's stock.

Culp Stock Up 2.6 %

Culp stock traded up $0.12 during midday trading on Thursday, reaching $4.52. The stock had a trading volume of 28,145 shares, compared to its average volume of 20,385. Culp has a 52-week low of $4.20 and a 52-week high of $6.85. The firm has a market cap of $56.70 million, a price-to-earnings ratio of -2.69 and a beta of 1.06. The company has a fifty day moving average of $5.39 and a 200 day moving average of $5.45.

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

Insider Transactions at Culp

In other Culp news, CEO Robert George Iv Culp acquired 8,508 shares of the company's stock in a transaction dated Tuesday, December 10th. The shares were purchased at an average cost of $5.42 per share, for a total transaction of $46,113.36. Following the completion of the purchase, the chief executive officer now owns 78,029 shares in the company, valued at approximately $422,917.18. This trade represents a 12.24 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Mary Elizabeth Hunsberger acquired 5,000 shares of the company's stock in a transaction dated Monday, December 16th. The shares were acquired at an average price of $5.55 per share, for a total transaction of $27,750.00. Following the completion of the purchase, 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 three months, insiders have purchased 31,495 shares of company stock valued at $167,062. 7.30% of the stock is currently owned by company insiders.

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Hedge Funds Weigh In On Culp

Hedge funds and other institutional investors have recently modified their holdings of the business. Citadel Advisors LLC boosted its stake in shares of Culp by 36.8% during the fourth quarter. Citadel Advisors LLC now owns 27,441 shares of the textile maker's stock valued at $161,000 after purchasing an additional 7,386 shares in the last quarter. HighTower Advisors LLC boosted its stake in shares of Culp by 49.5% during the fourth quarter. HighTower Advisors LLC now owns 36,046 shares of the textile maker's stock valued at $212,000 after purchasing an additional 11,929 shares in the last quarter. Northern Trust Corp boosted its stake in shares of Culp by 35.2% during 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. Geode Capital Management LLC boosted its stake in shares of Culp by 14.1% during 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, Dimensional Fund Advisors LP boosted its stake 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 acquiring an additional 5,091 shares in the last quarter. 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.