Culp (NYSE:CULP) Now Covered by Analysts at Wall Street Zen

Wall Street Zen started coverage on shares of Culp (NYSE:CULP - Free Report) in a report issued on Saturday. The brokerage issued a hold rating on the textile maker's stock.

Culp Stock Down 0.2%

NYSE CULP traded down $0.01 on Friday, hitting $4.09. The company's stock had a trading volume of 9,466 shares, compared to its average volume of 20,963. Culp has a 1-year low of $3.42 and a 1-year high of $6.85. The company's 50-day moving average is $4.28 and its 200 day moving average is $4.96. The firm has a market cap of $51.37 million, a PE ratio of -2.43 and a beta of 1.16.

Insider Activity

In other news, major shareholder Aron R. English bought 6,077 shares of the firm's stock in a transaction that occurred on Wednesday, March 12th. The shares were acquired at an average price of $5.05 per share, with a total value of $30,688.85. Following the acquisition, the insider now owns 1,711,304 shares of the company's stock, valued at approximately $8,642,085.20. The trade was a 0.36% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Robert George Iv Culp purchased 14,001 shares of the business's stock in a transaction on 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 owns 92,030 shares in the company, valued at approximately $454,628.20. This represents a 17.94% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired 67,403 shares of company stock worth $345,152 over the last three months. 7.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Culp

Institutional investors have recently made changes to their positions in the business. Wealthedge Investment Advisors LLC bought a new position in Culp in the 4th quarter worth $137,000. Citadel Advisors LLC increased its stake 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 in the last quarter. HighTower Advisors LLC boosted its holdings in shares of Culp by 49.5% during the 4th quarter. HighTower Advisors LLC now owns 36,046 shares of the textile maker's stock valued at $212,000 after acquiring an additional 11,929 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of Culp by 35.2% during the 4th quarter. Northern Trust Corp now owns 56,182 shares of the textile maker's stock valued at $330,000 after acquiring an additional 14,634 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted 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 valued at $3,156,000 after acquiring an additional 5,091 shares during the last quarter. 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.