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

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

Culp Stock Performance

Shares of NYSE CULP traded down $0.09 during midday trading on Friday, hitting $3.97. 1,746 shares of the company traded hands, compared to its average volume of 21,227. Culp has a 12-month low of $3.42 and a 12-month high of $6.85. The stock has a 50-day moving average price of $4.41 and a 200 day moving average price of $5.02. The firm has a market cap of $49.86 million, a P/E ratio of -2.36 and a beta of 1.16.

Insider Activity

In other Culp news, major shareholder Aron R. English purchased 20,000 shares of the stock in a transaction dated Wednesday, March 19th. The shares were purchased at an average cost of $5.60 per share, with a total value of $112,000.00. Following the completion of the acquisition, the insider now directly owns 1,859,061 shares in the company, valued at $10,410,741.60. This trade represents a 1.09% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Robert George Iv Culp acquired 14,001 shares of the business's stock in a transaction dated Monday, March 10th. The shares were acquired at an average cost of $4.94 per share, with a total value of $69,164.94. Following the transaction, the chief executive officer now owns 92,030 shares in the company, valued at approximately $454,628.20. This trade represents a 17.94% 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. Insiders own 7.30% of the company's stock.

Hedge Funds Weigh In On Culp

Several institutional investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP increased its holdings 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 buying an additional 5,091 shares in the last quarter. Citadel Advisors LLC increased its position in shares of Culp by 36.8% in 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 increased its position in shares of Culp by 49.5% in the 4th 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 during the last quarter. Geode Capital Management LLC increased its position in shares of Culp by 14.1% in the 3rd 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 during the last quarter. Finally, Northern Trust Corp grew its position in shares of Culp by 35.2% in the 4th 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 last quarter. 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.