Robert George Iv Culp Buys 4,383 Shares of Culp (NYSE:CULP) Stock

Culp, Inc. (NYSE:CULP) CEO Robert George Iv Culp acquired 4,383 shares of Culp stock in a transaction that occurred on Monday, March 16th. The shares were purchased at an average cost of $3.15 per share, for a total transaction of $13,806.45. Following the purchase, the chief executive officer directly owned 115,841 shares in the company, valued at $364,899.15. The trade was a 3.93% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Tuesday, March 17th, Robert George Iv Culp acquired 4,356 shares of Culp stock. The shares were purchased at an average price of $3.18 per share, with a total value of $13,852.08.

Culp Trading Up 1.0%

NYSE:CULP traded up $0.03 during trading hours on Wednesday, hitting $3.05. The stock had a trading volume of 39,263 shares, compared to its average volume of 25,560. The business’s 50 day moving average is $3.44 and its 200-day moving average is $3.82. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.79 and a current ratio of 1.76. The company has a market cap of $38.61 million, a price-to-earnings ratio of -3.55 and a beta of 1.03. Culp, Inc. has a one year low of $2.76 and a one year high of $5.64.

Wall Street Analyst Weigh In

CULP has been the topic of several research analyst reports. Zacks Research raised Culp from a “strong sell” rating to a “hold” rating in a research note on Monday, February 16th. Weiss Ratings reissued a “sell (d-)” rating on shares of Culp in a research note on Wednesday, January 21st. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce”.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CULP. Wealthedge Investment Advisors LLC increased its position in shares of Culp by 27.6% during the second quarter. Wealthedge Investment Advisors LLC now owns 68,942 shares of the textile maker’s stock worth $271,000 after acquiring an additional 14,897 shares in the last quarter. Ameriprise Financial Inc. lifted its position in Culp by 23.6% in the 3rd quarter. Ameriprise Financial Inc. now owns 859,145 shares of the textile maker’s stock valued at $3,832,000 after acquiring an additional 164,257 shares in the last quarter. CIBC Bancorp USA Inc. bought a new stake in Culp in the 3rd quarter valued at $6,642,000. Vanguard Group Inc. boosted its stake in Culp by 1.0% in the 3rd quarter. Vanguard Group Inc. now owns 507,062 shares of the textile maker’s stock worth $2,261,000 after purchasing an additional 5,019 shares during the period. Finally, Moors & Cabot Inc. boosted its stake in Culp by 3.9% in the 3rd quarter. Moors & Cabot Inc. now owns 201,191 shares of the textile maker’s stock worth $897,000 after purchasing an additional 7,620 shares during the period. Institutional investors and hedge funds own 75.05% of the company’s stock.

About Culp

Culp, Inc, headquartered in High Point, North Carolina, is a leading producer of specialty fabrics for the home furnishings industry. Founded in 1972 by Bill Culp, the company has grown into a publicly traded enterprise that supplies upholstery and mattress fabrics to manufacturers and retailers across North America and abroad. Culp’s fabric offerings are designed to meet the aesthetic and performance requirements of residential furniture, contract seating, and hospitality applications.

The company operates through two primary segments.