Culp (NYSE:CULP) Coverage Initiated by Analysts at StockNews.com

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

Culp Price Performance

CULP stock traded down $0.11 during midday trading on Monday, hitting $3.98. The stock had a trading volume of 31,993 shares, compared to its average volume of 21,748. The company's 50-day moving average price is $5.01 and its 200 day moving average price is $5.33. The firm has a market cap of $49.92 million, a PE ratio of -2.37 and a beta of 1.00. Culp has a 12-month low of $3.51 and a 12-month high of $6.85.

Insider Activity at Culp

In related news, CEO Robert George Iv Culp purchased 14,001 shares of the business's stock in a transaction on Monday, March 10th. The shares were bought at an average price of $4.94 per share, with a total value of $69,164.94. Following the completion of the purchase, the chief executive officer now directly owns 92,030 shares in the company, valued at approximately $454,628.20. This trade represents a 17.94 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, major shareholder Aron R. English purchased 20,000 shares of the firm's stock in a transaction on Wednesday, March 19th. The stock was bought at an average price of $5.60 per share, for a total transaction of $112,000.00. Following the acquisition, the insider now owns 1,859,061 shares in the company, valued at $10,410,741.60. The trade was a 1.09 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 67,403 shares of company stock worth $345,152. 7.30% of the stock is currently owned by insiders.

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Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. 22NW LP grew its position in Culp by 1.9% during the fourth quarter. 22NW LP now owns 1,624,715 shares of the textile maker's stock valued at $9,537,000 after acquiring an additional 30,325 shares during the period. Ameriprise Financial Inc. lifted its stake in shares of Culp by 8.4% in the 4th 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 holdings in shares of Culp by 1.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 537,726 shares of the textile maker's stock worth $3,156,000 after purchasing an additional 5,091 shares during the period. Geode Capital Management LLC increased its position in Culp by 14.1% during the 3rd quarter. Geode Capital Management LLC now owns 103,825 shares of the textile maker's stock worth $680,000 after purchasing an additional 12,830 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in 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 buying an additional 14,634 shares during the period. 75.05% of the stock is owned by hedge funds and other institutional investors.

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.