Culp, Inc. (NYSE:CULP) Major Shareholder Buys $13,442.44 in Stock

Culp, Inc. (NYSE:CULP) major shareholder Aron R. English bought 2,453 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The stock was purchased at an average cost of $5.48 per share, for a total transaction of $13,442.44. Following the transaction, the insider now directly owns 1,354,343 shares of the company’s stock, valued at approximately $7,421,799.64. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Large 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

NYSE CULP traded up $0.19 during trading on Wednesday, hitting $5.64. 19,693 shares of the company’s stock traded hands, compared to its average volume of 19,775. Culp, Inc. has a 12-month low of $4.25 and a 12-month high of $5.99. The firm has a market cap of $70.33 million, a P/E ratio of -4.94 and a beta of 1.18. The stock has a fifty day moving average of $4.98 and a two-hundred day moving average of $4.69.

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

Institutional Investors Weigh In On Culp

Several hedge funds have recently modified their holdings of the business. Essex Investment Management Co. LLC acquired a new stake in shares of Culp in the fourth quarter valued at about $256,000. Vanguard Group Inc. boosted its stake in shares of Culp by 4.2% in the first quarter. Vanguard Group Inc. now owns 485,420 shares of the textile maker’s stock valued at $2,330,000 after purchasing an additional 19,640 shares during the period. Finally, Gate City Capital Management LLC purchased a new position in shares of Culp in the fourth quarter valued at approximately $6,010,000. Hedge funds and other institutional investors own 75.05% of the company’s stock.

Analyst Ratings Changes

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

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.