Culp (NYSE:CULP) Stock: Insider Robert George Iv Culp Buys 2,960 Shares

Culp, Inc. (NYSE:CULP) CEO Robert Culp, IV bought 2,960 shares of the firm’s stock in a transaction that occurred on Monday, September 28th. The shares were purchased at an average cost of $3.89 per share, with a total value of $11,514.40. Following the acquisition, the chief executive officer directly owned 136,919 shares of the company’s stock, valued at approximately $532,614.91. This trade represents a 2.21% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Robert George Iv Culp also recently made the following trade(s):

• On Friday, September 18th, Robert Culp, IV acquired 4,874 shares of Culp stock. The stock was acquired at an average price of $3.78 per share, for a total transaction of $18,423.72.
• On Thursday, July 9th, Robert Culp, IV purchased 2,768 shares of Culp stock. The stock was acquired at an average cost of $3.33 per share, for a total transaction of $9,217.44.

Culp Stock Performance

CULP traded up $0.04 during midday trading on Wednesday, hitting $3.88. 29,452 shares of the company were exchanged, compared to its average volume of 50,668. The company’s 50 day simple moving average is $3.50 and its 200 day simple moving average is $3.26. The firm has a market capitalization of $49.48 million, a price-to-earnings ratio of -4.52 and a beta of 1.19. The company has a current ratio of 1.76, a quick ratio of 0.79 and a debt-to-equity ratio of 0.13. Culp, Inc. has a 1-year low of $2.70 and a 1-year high of $4.44.

Culp (NYSE:CULP) last issued its quarterly earnings data on Wednesday, September 9th. The textile maker reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.03. Culp had a negative return on equity of 12.53% and a negative net margin of 5.24%.The business had revenue of $53.97 million during the quarter, compared to analysts’ expectations of $53.20 million.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in Culp during the second quarter worth about $863,000. Bank of New York Mellon Corp acquired a new stake in Culp in the 2nd quarter valued at about $158,000. Grace & White Inc. NY raised its holdings in Culp by 24.7% in the 1st quarter. Grace & White Inc. NY now owns 150,763 shares of the textile maker’s stock valued at $413,000 after acquiring an additional 29,845 shares during the last quarter. Finally, Hsbc Holdings PLC purchased a new position in Culp in the 2nd quarter worth approximately $47,000. Hedge funds and other institutional investors own 75.05% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Zacks Research lowered shares of Culp from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 7th. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Reduce”.

About Culp

Culp, Inc is a manufacturer and marketer of mattress fabrics and upholstery fabrics. The company supplies textile products used by bedding manufacturers, furniture producers, and other customers in residential, commercial, hospitality, and related end markets.

Through its Mattress Fabrics segment, Culp produces knitted and woven fabrics used in mattress covers, ticking, foundations, and other bedding applications. Its Upholstery Fabrics segment provides fabrics for residential furniture as well as commercial and hospitality furnishings, offering a range of designs, textures, and performance characteristics.

Founded in 1972 and headquartered in High Point, North Carolina, Culp serves customers in the United States and international markets through manufacturing and distribution operations in multiple countries.