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

StockNews.com began 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 Price Performance

Shares of NYSE CULP traded up $0.30 during mid-day trading on Thursday, hitting $4.04. The company had a trading volume of 40,166 shares, compared to its average volume of 21,750. Culp has a 12 month low of $3.42 and a 12 month high of $6.85. The stock has a market cap of $50.68 million, a price-to-earnings ratio of -2.40 and a beta of 1.00. The firm's 50 day simple moving average is $4.56 and its two-hundred day simple moving average is $5.11.

Insiders Place Their Bets

In other news, CEO Robert George Iv Culp purchased 14,001 shares of the business's stock in a transaction dated Monday, March 10th. The stock was bought at an average cost of $4.94 per share, with a total value of $69,164.94. Following the purchase, the chief executive officer now directly owns 92,030 shares of the company's stock, valued at approximately $454,628.20. This trade represents a 17.94 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Aron R. English purchased 20,000 shares of the stock in a transaction dated Wednesday, March 19th. The stock was 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 owns 1,859,061 shares of the company's stock, valued at $10,410,741.60. The trade was a 1.09 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 67,403 shares of company stock worth $345,152. Company insiders own 7.30% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP boosted its stake in shares of Culp by 1.0% in the 4th 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. Citadel Advisors LLC lifted its holdings in Culp by 36.8% during the 4th 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 during the last quarter. HighTower Advisors LLC boosted its position in Culp by 49.5% in the fourth quarter. HighTower Advisors LLC now owns 36,046 shares of the textile maker's stock valued at $212,000 after buying an additional 11,929 shares in the last quarter. Geode Capital Management LLC boosted its position in 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 in the last quarter. Finally, Northern Trust Corp grew its stake in Culp by 35.2% during the fourth quarter. Northern Trust Corp now owns 56,182 shares of the textile maker's stock worth $330,000 after buying an additional 14,634 shares during the last quarter. Institutional investors and hedge funds 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.