Key Points
- CEO Robert George Iv Culp bought 4,874 shares at an average price of $3.78, investing $18,423.72 and increasing his stake by 3.78% to 133,959 shares.
- Culp reported quarterly EPS of $0.47, beating estimates by $0.03, while revenue of $53.97 million also exceeded forecasts; however, the company maintained negative net margins and return on equity.
- Analyst sentiment remains cautious, with ratings of Hold and Sell producing a MarketBeat consensus of “Reduce.” Culp shares opened at $3.60, and institutional investors own approximately 75.05% of the stock.
Culp, Inc. (NYSE:CULP - Get Free Report) CEO Robert George Iv Culp acquired 4,874 shares of Culp stock in a transaction on Friday, September 18th. The shares were purchased at an average price of $3.78 per share, with a total value of $18,423.72. Following the completion of the purchase, the chief executive officer owned 133,959 shares in the company, valued at $506,365.02. This represents a 3.78% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
Robert George Iv Culp also recently made the following trade(s):
- On Thursday, July 9th, Robert George Iv Culp bought 2,768 shares of Culp stock. The stock was purchased at an average cost of $3.33 per share, with a total value of $9,217.44.
Culp Trading Down 0.8%
Shares of NYSE CULP opened at $3.60 on Tuesday. The firm's 50 day moving average price is $3.52 and its 200-day moving average price is $3.24. Culp, Inc. has a 52-week low of $2.70 and a 52-week high of $4.75. 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 $45.85 million, a PE ratio of -4.19 and a beta of 1.19.
Culp (NYSE:CULP - Get Free Report) last announced its quarterly earnings results on Wednesday, September 9th. The textile maker reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.03. Culp had a negative net margin of 5.24% and a negative return on equity of 12.53%. The company had revenue of $53.97 million during the quarter, compared to the consensus estimate of $53.20 million.
Wall Street Analysts Forecast Growth
Separately, Zacks Research cut Culp from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 7th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Culp presently has an average rating of "Reduce".
Read Our Latest Stock Report on CULP
Institutional Trading of Culp
A number of large investors have recently made changes to their positions in the stock. Hsbc Holdings PLC purchased a new position in shares of Culp during the second quarter valued at approximately $47,000. Bank of New York Mellon Corp purchased a new stake in Culp in the second quarter worth approximately $158,000. Grace & White Inc. NY grew its position in Culp by 24.7% in the 1st quarter. Grace & White Inc. NY now owns 150,763 shares of the textile maker's stock worth $413,000 after purchasing an additional 29,845 shares during the period. Finally, BlackRock Inc. bought a new stake in Culp in the 2nd quarter worth approximately $863,000. 75.05% of the stock is currently owned by institutional investors.
About Culp
(
Get Free Report)
Culp, Inc is a manufacturer and marketer of mattress fabrics and upholstery fabrics. The company supplies textile products used by bedding manufacturers, furniture producers, and other customers in residential, commercial, hospitality, and related end markets.
Through its Mattress Fabrics segment, Culp produces knitted and woven fabrics used in mattress covers, ticking, foundations, and other bedding applications. Its Upholstery Fabrics segment provides fabrics for residential furniture as well as commercial and hospitality furnishings, offering a range of designs, textures, and performance characteristics.
Founded in 1972 and headquartered in High Point, North Carolina, Culp serves customers in the United States and international markets through manufacturing and distribution operations in multiple countries.
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