Culp, Inc. (NYSE:CULP) CEO Buys $69,164.94 in Stock

Culp, Inc. (NYSE:CULP) CEO Robert George Iv Culp bought 14,001 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The stock was bought at an average cost of $4.94 per share, for a total transaction of $69,164.94. Following the completion of the transaction, the chief executive officer now directly owns 92,030 shares in the company, valued at approximately $454,628.20. The trade was a 17.94 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link.

Culp Price Performance

NYSE CULP opened at $5.03 on Friday. The firm’s fifty day moving average price is $5.32 and its 200 day moving average price is $5.45. The company has a market capitalization of $63.17 million, a price-to-earnings ratio of -2.99 and a beta of 1.06. Culp, Inc. has a 12 month low of $4.20 and a 12 month high of $6.85.

Wall Street Analysts Forecast Growth

Separately, StockNews.com began coverage on shares of Culp in a research report on Friday. They issued a “hold” rating on the stock.

Institutional Trading of Culp

A number of large investors have recently bought and sold shares of the business. 22NW LP boosted its stake in Culp by 1.9% during the 4th quarter. 22NW LP now owns 1,624,715 shares of the textile maker’s stock worth $9,537,000 after purchasing an additional 30,325 shares during the period. Ameriprise Financial Inc. boosted its stake in Culp by 8.4% during the 4th quarter. Ameriprise Financial Inc. now owns 541,905 shares of the textile maker’s stock worth $3,181,000 after purchasing an additional 42,216 shares during the period. Dimensional Fund Advisors LP boosted its stake in Culp by 1.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 537,726 shares of the textile maker’s stock worth $3,156,000 after purchasing an additional 5,091 shares during the period. Geode Capital Management LLC boosted its stake in Culp by 14.1% during the 3rd quarter. Geode Capital Management LLC now owns 103,825 shares of the textile maker’s stock worth $680,000 after purchasing an additional 12,830 shares during the period. Finally, Northern Trust Corp boosted its stake in Culp by 35.2% during the 4th quarter. Northern Trust Corp now owns 56,182 shares of the textile maker’s stock worth $330,000 after purchasing an additional 14,634 shares during the period. Institutional investors and hedge funds own 75.05% of the company’s stock.

About Culp

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.