Culp (NYSE:CULP) Coverage Initiated at StockNews.com

Research analysts at StockNews.com began coverage on shares of Culp (NYSE:CULP – Get Rating) in a research report issued to clients and investors on Friday. The firm set a “sell” rating on the textile maker’s stock.

Culp Trading Down 6.4 %

Shares of NYSE CULP opened at $5.25 on Friday. Culp has a twelve month low of $3.94 and a twelve month high of $8.30. The company has a market capitalization of $64.63 million, a price-to-earnings ratio of -1.96 and a beta of 1.22. The firm has a 50-day moving average of $5.39 and a two-hundred day moving average of $4.94.

Insider Activity

In other Culp news, insider Thomas Bruno bought 9,000 shares of the company’s stock in a transaction dated Tuesday, January 3rd. The shares were bought at an average price of $4.59 per share, for a total transaction of $41,310.00. Following the acquisition, the insider now directly owns 10,000 shares of the company’s stock, valued at $45,900. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have acquired 14,840 shares of company stock worth $72,207 in the last 90 days. Company insiders own 5.10% of the company’s stock.

Hedge Funds Weigh In On Culp

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP raised its position in Culp by 2.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 683,423 shares of the textile maker’s stock valued at $3,137,000 after acquiring an additional 18,064 shares in the last quarter. BlackRock Inc. grew its holdings in Culp by 10.0% during the first quarter. BlackRock Inc. now owns 401,826 shares of the textile maker’s stock valued at $3,190,000 after purchasing an additional 36,372 shares during the last quarter. Keeley Teton Advisors LLC grew its holdings in Culp by 23.8% during the first quarter. Keeley Teton Advisors LLC now owns 379,111 shares of the textile maker’s stock valued at $3,010,000 after purchasing an additional 72,775 shares during the last quarter. Ancora Advisors LLC grew its holdings in Culp by 23.4% during the first quarter. Ancora Advisors LLC now owns 279,074 shares of the textile maker’s stock valued at $4,295,000 after purchasing an additional 52,982 shares during the last quarter. Finally, Grace & White Inc. NY grew its holdings in Culp by 21.9% during the third quarter. Grace & White Inc. NY now owns 217,484 shares of the textile maker’s stock valued at $948,000 after purchasing an additional 39,057 shares during the last quarter. Institutional investors own 59.96% of the company’s stock.

Culp Company Profile

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Culp, Inc engages in the design, manufacture, and trade of mattresses and upholstery products. It operates through the Mattress Fabrics and Upholstery Fabrics segments. The Mattress Fabrics segment markets and sells covers and beddings under the Culp Home Fashions brand. The Upholstery Fabrics segment produces and supplies fabrics for residential and commercial manufacturers.