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

by · The Markets Daily

StockNews.com initiated coverage on shares of Culp (NYSE:CULP – Free Report) in a report issued on Wednesday morning. The brokerage issued a hold rating on the textile maker’s stock.

Culp Trading Up 0.8 %

Shares of CULP opened at $5.33 on Wednesday. Culp has a 12 month low of $4.25 and a 12 month high of $6.85. The stock has a fifty day moving average price of $5.71 and a 200-day moving average price of $5.02. The firm has a market cap of $66.57 million, a PE ratio of -3.75 and a beta of 1.22.

Culp (NYSE:CULP – Get Free Report) last released its quarterly earnings results on Wednesday, September 4th. The textile maker reported ($0.37) EPS for the quarter. Culp had a negative net margin of 7.88% and a negative return on equity of 19.51%. The business had revenue of $56.54 million during the quarter.

Insider Buying and Selling at Culp

In related news, major shareholder Aron R. English acquired 7,652 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were purchased at an average cost of $5.39 per share, with a total value of $41,244.28. Following the completion of the acquisition, the insider now directly owns 1,347,366 shares of the company’s stock, valued at $7,262,302.74. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, major shareholder Aron R. English bought 7,652 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The shares were purchased at an average price of $5.39 per share, for a total transaction of $41,244.28. Following the completion of the transaction, the insider now directly owns 1,347,366 shares in the company, valued at approximately $7,262,302.74. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Sharon A. Decker purchased 5,000 shares of the business’s stock in a transaction that occurred on Thursday, September 26th. The stock was acquired at an average price of $5.99 per share, for a total transaction of $29,950.00. Following the acquisition, the director now owns 45,383 shares in the company, valued at $271,844.17. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 238,959 shares of company stock worth $1,440,336. 7.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Culp stock. Vanguard Group Inc. raised its stake in shares of Culp, Inc. (NYSE:CULP – Free Report) by 4.2% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 485,420 shares of the textile maker’s stock after buying an additional 19,640 shares during the period. Vanguard Group Inc. owned about 3.89% of Culp worth $2,330,000 at the end of the most recent quarter. Institutional investors and hedge funds own 75.05% of the company’s stock.

Culp Company Profile

(Get Free Report)

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.

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