Oppenheimer & Co. Inc. Sells 16,750 Shares of Culp, Inc. (NYSE:CULP)

Oppenheimer & Co. Inc. reduced its stake in Culp, Inc. (NYSE:CULPGet Rating) by 19.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 69,417 shares of the textile maker’s stock after selling 16,750 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Culp were worth $298,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of CULP. US Bancorp DE bought a new position in Culp in the 2nd quarter valued at about $109,000. Engineers Gate Manager LP bought a new position in Culp in the 1st quarter valued at about $112,000. State Street Corp raised its holdings in Culp by 5.2% in the 1st quarter. State Street Corp now owns 41,621 shares of the textile maker’s stock valued at $330,000 after acquiring an additional 2,071 shares during the period. Isthmus Partners LLC raised its holdings in Culp by 25.0% in the 2nd quarter. Isthmus Partners LLC now owns 175,194 shares of the textile maker’s stock valued at $753,000 after acquiring an additional 35,012 shares during the period. Finally, Grace & White Inc. NY acquired a new position in shares of Culp during the 2nd quarter worth approximately $767,000. 61.72% of the stock is owned by institutional investors.

Culp Stock Down 0.4 %

Shares of NYSE:CULP opened at $5.18 on Friday. The company’s 50 day moving average price is $4.61 and its two-hundred day moving average price is $4.93. Culp, Inc. has a 12-month low of $3.94 and a 12-month high of $11.92. The firm has a market cap of $63.58 million, a PE ratio of -5.69 and a beta of 1.21.

Culp (NYSE:CULPGet Rating) last announced its earnings results on Wednesday, August 31st. The textile maker reported ($0.47) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.16). Culp had a negative return on equity of 9.13% and a negative net margin of 4.07%. The business had revenue of $62.60 million for the quarter, compared to analyst estimates of $55.21 million. On average, research analysts expect that Culp, Inc. will post -0.94 EPS for the current year.

Analyst Ratings Changes

Separately, StockNews.com assumed coverage on shares of Culp in a research report on Thursday. They set a “sell” rating on the stock.

Culp Profile

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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.

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Institutional Ownership by Quarter for Culp (NYSE:CULP)

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