Culp, Inc. (NYSE:CULP) Major Shareholder Buys $21,817.40 in Stock

Culp, Inc. (NYSE:CULP) major shareholder Aron R. English purchased 4,220 shares of the business’s stock in a transaction on Monday, March 17th. The stock was bought at an average cost of $5.17 per share, with a total value of $21,817.40. Following the purchase, the insider now owns 1,734,323 shares in the company, valued at approximately $8,966,449.91. This represents a 0.24 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Culp Price Performance

CULP stock opened at $5.61 on Thursday. Culp, Inc. has a one year low of $4.20 and a one year high of $6.85. The stock has a market cap of $70.39 million, a PE ratio of -3.34 and a beta of 1.06. The firm has a 50 day simple moving average of $5.30 and a two-hundred day simple moving average of $5.47.

Hedge Funds Weigh In On Culp

A number of hedge funds and other institutional investors have recently bought and sold shares of CULP. Geode Capital Management LLC grew its stake in Culp by 14.1% in the 3rd quarter. Geode Capital Management LLC now owns 103,825 shares of the textile maker’s stock worth $680,000 after buying an additional 12,830 shares in the last quarter. HighTower Advisors LLC boosted its stake in shares of Culp by 49.5% in the 4th quarter. HighTower Advisors LLC now owns 36,046 shares of the textile maker’s stock valued at $212,000 after purchasing an additional 11,929 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Culp by 1.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 537,726 shares of the textile maker’s stock valued at $3,156,000 after purchasing an additional 5,091 shares in the last quarter. Northern Trust Corp boosted its stake in shares of Culp by 35.2% in the 4th quarter. Northern Trust Corp now owns 56,182 shares of the textile maker’s stock valued at $330,000 after purchasing an additional 14,634 shares in the last quarter. Finally, 22NW LP boosted its stake in shares of Culp by 1.9% in the 4th quarter. 22NW LP now owns 1,624,715 shares of the textile maker’s stock valued at $9,537,000 after purchasing an additional 30,325 shares in the last quarter. Hedge funds and other institutional investors own 75.05% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com assumed coverage on shares of Culp in a research note on Friday, March 14th. They issued a “hold” rating for the company.

Culp Company Profile

Culp, Inc manufactures, sources, markets, and sells mattress fabrics, sewn covers, and cut and sewn kits for use in mattresses, foundations, and other bedding products in the United States, North America, the Far East, Asia, and internationally. It operates in two segments, Mattress Fabrics and Upholstery Fabrics.