StockNews.com Initiates Coverage on Culp (NYSE:CULP)

StockNews.com began coverage on shares of Culp (NYSE:CULP) in a report published on Monday. The brokerage issued a hold rating on the textile maker’s stock.

Culp Stock Performance

NYSE:CULP opened at $5.73 on Monday. The company has a market cap of $71.45 million, a price-to-earnings ratio of -5.16 and a beta of 1.19. Culp has a fifty-two week low of $4.25 and a fifty-two week high of $6.85. The stock has a fifty day moving average price of $5.62 and a 200-day moving average price of $4.97.

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

Insider Buying and Selling

In other Culp news, Director Sharon A. Decker bought 5,000 shares of Culp stock in a transaction on Thursday, September 26th. The shares were purchased at an average price of $5.99 per share, with a total value 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, major shareholder Aron R. English bought 7,652 shares of the business’s stock in a transaction 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 of the company’s stock, valued at approximately $7,262,302.74. This represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, Director Sharon A. Decker bought 5,000 shares of the firm’s stock in a transaction on Thursday, September 26th. The shares were bought at an average cost of $5.99 per share, for a total transaction of $29,950.00. Following the purchase, the director now owns 45,383 shares of the company’s stock, valued at approximately $271,844.17. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 238,959 shares of company stock worth $1,440,336. Corporate insiders own 6.60% of the company’s stock.

Institutional Trading of Culp

An institutional investor recently raised its position in Culp stock. Vanguard Group Inc. increased its holdings in shares of Culp, Inc. (NYSE:CULP) by 4.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm 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.

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.