Culp (NYSE:CULP) Earns Hold Rating from Analysts at StockNews.com

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

Culp Trading Down 4.4 %

Shares of NYSE:CULP opened at $5.26 on Monday. Culp has a 1-year low of $4.25 and a 1-year high of $6.85. The stock has a market cap of $66.06 million, a PE ratio of -3.13 and a beta of 1.20. The stock’s fifty day simple moving average is $5.37 and its two-hundred day simple moving average is $5.18.

Insider Buying and Selling

In related news, CEO Robert George Iv Culp bought 8,508 shares of the business’s stock in a transaction on Tuesday, December 10th. The stock was acquired at an average price of $5.42 per share, for a total transaction of $46,113.36. Following the purchase, the chief executive officer now directly owns 78,029 shares in the company, valued at $422,917.18. This trade represents a 12.24 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Sharon A. Decker purchased 5,000 shares of the firm’s stock in a transaction dated Thursday, September 26th. The shares were bought at an average price of $5.99 per share, for a total transaction of $29,950.00. Following the completion of the transaction, the director now owns 45,383 shares of the company’s stock, valued at approximately $271,844.17. This trade represents a 12.38 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 28,595 shares of company stock valued at $154,416. 7.30% of the stock is owned by insiders.

Hedge Funds Weigh In On Culp

An institutional investor recently raised its position in Culp stock. Vanguard Group Inc. grew its position in shares of Culp, Inc. (NYSE:CULP) by 4.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 485,420 shares of the textile maker’s stock after purchasing 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 reporting period. 75.05% of the stock is owned by institutional investors.

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.