Culp, Inc. (NYSE:CULP) Major Shareholder Purchases $30,688.85 in Stock

Culp, Inc. (NYSE:CULP) major shareholder Aron R. English purchased 6,077 shares of the business’s stock in a transaction dated Wednesday, March 12th. The shares were bought at an average price of $5.05 per share, with a total value of $30,688.85. Following the purchase, the insider now directly owns 1,711,304 shares of the company’s stock, valued at approximately $8,642,085.20. The trade was a 0.36 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Culp Stock Up 1.8 %

CULP opened at $5.13 on Thursday. The business’s fifty day simple moving average is $5.34 and its 200 day simple moving average is $5.46. Culp, Inc. has a 52 week low of $4.20 and a 52 week high of $6.85. The firm has a market cap of $64.43 million, a P/E ratio of -3.05 and a beta of 1.06.

Institutional Investors Weigh In On Culp

Hedge funds and other institutional investors have recently modified their holdings of the company. Geode Capital Management LLC lifted its position in Culp by 14.1% during the third quarter. Geode Capital Management LLC now owns 103,825 shares of the textile maker’s stock worth $680,000 after buying an additional 12,830 shares during the period. HighTower Advisors LLC boosted its position in Culp by 49.5% during the 4th quarter. HighTower Advisors LLC now owns 36,046 shares of the textile maker’s stock worth $212,000 after purchasing an additional 11,929 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Culp by 1.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 537,726 shares of the textile maker’s stock valued at $3,156,000 after buying an additional 5,091 shares in the last quarter. Northern Trust Corp raised its stake in shares of Culp by 35.2% during the fourth quarter. Northern Trust Corp now owns 56,182 shares of the textile maker’s stock valued at $330,000 after purchasing an additional 14,634 shares during the period. Finally, 22NW LP lifted its holdings in Culp by 1.9% in the 4th quarter. 22NW LP now owns 1,624,715 shares of the textile maker’s stock worth $9,537,000 after buying an additional 30,325 shares in the last quarter. 75.05% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com initiated coverage on Culp in a report on Thursday, March 6th. They issued a “hold” rating on the 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.