Robert George Iv Culp Buys 12,000 Shares of Culp, Inc. (NYSE:CULP) Stock

Culp, Inc. (NYSE:CULP - Get Free Report) CEO Robert George Iv Culp bought 12,000 shares of the stock in a transaction dated Tuesday, July 1st. The shares were acquired at an average price of $4.15 per share, for a total transaction of $49,800.00. Following the completion of the purchase, the chief executive officer directly owned 104,030 shares in the company, valued at approximately $431,724.50. This trade represents a 13.04% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Culp Trading Up 0.2%

CULP stock traded up $0.01 during midday trading on Friday, hitting $4.50. The company had a trading volume of 32,323 shares, compared to its average volume of 20,870. The stock has a market cap of $56.52 million, a price-to-earnings ratio of -2.94 and a beta of 1.13. The stock's 50 day moving average price is $4.04 and its 200 day moving average price is $4.71. Culp, Inc. has a 52 week low of $3.42 and a 52 week high of $6.85.

Culp (NYSE:CULP - Get Free Report) last announced its earnings results on Wednesday, June 25th. The textile maker reported ($0.06) EPS for the quarter, beating analysts' consensus estimates of ($0.10) by $0.04. The company had revenue of $48.77 million during the quarter, compared to the consensus estimate of $52.40 million. Culp had a negative return on equity of 17.72% and a negative net margin of 8.96%.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen started coverage on Culp in a report on Saturday, May 17th. They set a "hold" rating for the company.

Hedge Funds Weigh In On Culp

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP raised its holdings in shares of Culp by 1.0% during 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. Citadel Advisors LLC raised its holdings in Culp by 36.8% in the fourth quarter. Citadel Advisors LLC now owns 27,441 shares of the textile maker's stock worth $161,000 after purchasing an additional 7,386 shares in the last quarter. HighTower Advisors LLC raised its holdings in Culp by 49.5% in the fourth quarter. HighTower Advisors LLC now owns 36,046 shares of the textile maker's stock worth $212,000 after purchasing an additional 11,929 shares in the last quarter. 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 worth $330,000 after purchasing an additional 14,634 shares in the last quarter. Finally, Wealthedge Investment Advisors LLC bought a new position in Culp in the fourth quarter worth $137,000. 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.