Culp, Inc. (NYSE:CULP) Major Shareholder Aron R. English Acquires 7,652 Shares

Culp, Inc. (NYSE:CULP) 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 acquisition, the insider now owns 1,347,366 shares of the company’s stock, valued at approximately $7,262,302.74. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Culp Price Performance

Shares of NYSE:CULP traded up $0.19 during midday trading on Wednesday, reaching $5.64. The company’s stock had a trading volume of 19,693 shares, compared to its average volume of 19,775. The business’s fifty day simple moving average is $4.98 and its 200-day simple moving average is $4.69. Culp, Inc. has a fifty-two week low of $4.25 and a fifty-two week high of $5.99. The company has a market capitalization of $70.33 million, a P/E ratio of -4.94 and a beta of 1.18.

Culp (NYSE:CULP) last posted its quarterly earnings data on Friday, June 28th. The textile maker reported ($0.39) earnings per share for the quarter, beating the consensus estimate of ($0.44) by $0.05. Culp had a negative net margin of 7.88% and a negative return on equity of 18.84%. The firm had revenue of $49.53 million during the quarter, compared to analysts’ expectations of $49.76 million. During the same quarter last year, the company posted ($0.38) EPS.

Analyst Ratings Changes

Separately, StockNews.com initiated coverage on Culp in a research report on Wednesday. They set a “hold” rating on the stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Essex Investment Management Co. LLC bought a new position in Culp in the 4th quarter valued at $256,000. Gate City Capital Management LLC acquired a new position in shares of Culp during the fourth quarter valued at $6,010,000. Finally, Vanguard Group Inc. lifted its stake in shares of Culp by 4.2% during the first quarter. Vanguard Group Inc. now owns 485,420 shares of the textile maker’s stock valued at $2,330,000 after acquiring an additional 19,640 shares during the period. 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.