Insider Buying: Culp (NYSE:CULP) Director Buys $17,250.00 in Stock

Culp, Inc. (NYSE:CULP) Director John Douglas Collier bought 5,000 shares of the firm’s stock in a transaction dated Monday, July 13th. The shares were acquired at an average price of $3.45 per share, with a total value of $17,250.00. Following the completion of the transaction, the director owned 5,000 shares of the company’s stock, valued at approximately $17,250. The trade was a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Culp Stock Down 0.8%

Shares of CULP opened at $3.79 on Friday. The firm has a market capitalization of $47.99 million, a P/E ratio of -4.41 and a beta of 1.19. Culp, Inc. has a 12-month low of $2.70 and a 12-month high of $4.80. The company has a current ratio of 1.76, a quick ratio of 0.79 and a debt-to-equity ratio of 0.13. The firm has a fifty day moving average price of $3.21 and a 200-day moving average price of $3.25.

Hedge Funds Weigh In On Culp

Several institutional investors have recently made changes to their positions in CULP. CIBC Bancorp USA Inc. bought a new stake in shares of Culp in the third quarter valued at about $6,642,000. Ameriprise Financial Inc. increased its position in Culp by 23.6% during the 3rd quarter. Ameriprise Financial Inc. now owns 859,145 shares of the textile maker’s stock valued at $3,832,000 after purchasing an additional 164,257 shares during the period. Grace & White Inc. NY raised its holdings in shares of 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 purchasing an additional 29,845 shares in the last quarter. HighTower Advisors LLC raised its holdings in shares of Culp by 23.3% in the 4th quarter. HighTower Advisors LLC now owns 48,590 shares of the textile maker’s stock valued at $173,000 after purchasing an additional 9,197 shares in the last quarter. Finally, Moors & Cabot Inc. lifted its position in shares of 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. Hedge funds and other institutional investors own 75.05% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Zacks Research raised shares of Culp from a “hold” rating to a “strong-buy” rating in a research report on Monday. One equities research analyst has rated the stock with a Strong Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Culp currently has an average rating of “Moderate Buy”.

Culp Company Profile

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.