Robert George Iv Culp Buys 4,356 Shares of Culp (NYSE:CULP) Stock

Culp, Inc. (NYSE:CULP) CEO Robert George Iv Culp purchased 4,356 shares of the firm’s stock in a transaction on Tuesday, March 17th. The shares were purchased at an average cost of $3.18 per share, for a total transaction of $13,852.08. Following the completion of the purchase, the chief executive officer directly owned 120,197 shares in the company, valued at $382,226.46. The trade was a 3.76% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

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

• On Monday, March 16th, Robert George Iv Culp acquired 4,383 shares of Culp stock. The shares were purchased at an average cost of $3.15 per share, for a total transaction of $13,806.45.

Culp Stock Down 0.3%

CULP stock opened at $2.97 on Friday. The company has a 50 day moving average price of $3.42 and a two-hundred day moving average price of $3.81. 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 stock has a market capitalization of $37.61 million, a P/E ratio of -3.45 and a beta of 1.03. Culp, Inc. has a one year low of $2.76 and a one year high of $5.57.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Zacks Research raised shares of Culp from a “strong sell” rating to a “hold” rating in a research note on Monday, February 16th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Culp in a research report on Wednesday, January 21st. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Culp presently has a consensus rating of “Reduce”.

Institutional Investors Weigh In On Culp

A number of institutional investors and hedge funds have recently modified their holdings of CULP. Geode Capital Management LLC raised its position in Culp by 3.1% during the fourth quarter. Geode Capital Management LLC now owns 118,715 shares of the textile maker’s stock valued at $423,000 after buying an additional 3,606 shares during the period. HighTower Advisors LLC lifted its position in shares of Culp by 23.3% in the fourth quarter. HighTower Advisors LLC now owns 48,590 shares of the textile maker’s stock worth $173,000 after buying an additional 9,197 shares during the last quarter. CIBC Bancorp USA Inc. bought a new stake in Culp during the third quarter worth approximately $6,642,000. Susquehanna International Group LLP boosted its holdings in shares of Culp by 16.5% during the 3rd quarter. Susquehanna International Group LLP now owns 40,652 shares of the textile maker’s stock worth $181,000 after buying an additional 5,762 shares during the period. Finally, Moors & Cabot Inc. boosted its holdings in Culp by 3.9% during the third quarter. Moors & Cabot Inc. now owns 201,191 shares of the textile maker’s stock valued at $897,000 after acquiring an additional 7,620 shares during the period. 75.05% of the stock is owned by institutional investors and hedge funds.

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.