US Bancorp DE raised its stake in shares of Culp, Inc. (NYSE:CULP – Get Rating) by 188.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 73,333 shares of the textile maker’s stock after acquiring an additional 47,895 shares during the period. US Bancorp DE owned about 0.60% of Culp worth $320,000 as of its most recent SEC filing.
Several other large investors have also bought and sold shares of CULP. BlackRock Inc. lifted its stake in Culp by 10.0% during the 1st quarter. BlackRock Inc. now owns 401,826 shares of the textile maker’s stock valued at $3,190,000 after acquiring an additional 36,372 shares in the last quarter. Ancora Advisors LLC lifted its stake in Culp by 23.4% during the 1st quarter. Ancora Advisors LLC now owns 279,074 shares of the textile maker’s stock valued at $4,295,000 after acquiring an additional 52,982 shares in the last quarter. Engineers Gate Manager LP bought a new position in Culp during the 1st quarter valued at $112,000. State Street Corp raised its stake in shares of Culp by 5.2% during the 1st quarter. State Street Corp now owns 41,621 shares of the textile maker’s stock worth $330,000 after purchasing an additional 2,071 shares during the period. Finally, Keeley Teton Advisors LLC raised its stake in shares of Culp by 23.8% during the 1st quarter. Keeley Teton Advisors LLC now owns 379,111 shares of the textile maker’s stock worth $3,010,000 after purchasing an additional 72,775 shares during the period. 59.96% of the stock is currently owned by institutional investors.
Insider Activity at Culp
In other news, insider Thomas Bruno acquired 9,000 shares of the stock in a transaction that occurred on Tuesday, January 3rd. The shares were acquired at an average cost of $4.59 per share, for a total transaction of $41,310.00. Following the purchase, the insider now owns 10,000 shares of the company’s stock, valued at approximately $45,900. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In the last three months, insiders have bought 11,550 shares of company stock worth $53,040. Company insiders own 5.10% of the company’s stock.
Analyst Upgrades and Downgrades
Culp Price Performance
NYSE CULP opened at $5.37 on Wednesday. The stock has a market capitalization of $66.02 million, a price-to-earnings ratio of -2.73 and a beta of 1.20. Culp, Inc. has a one year low of $3.94 and a one year high of $9.13. The business’s fifty day moving average is $4.99 and its 200-day moving average is $4.81.
Culp (NYSE:CULP – Get Rating) last released its earnings results on Wednesday, December 7th. The textile maker reported ($0.99) EPS for the quarter, topping analysts’ consensus estimates of ($1.10) by $0.11. The company had revenue of $58.38 million for the quarter, compared to analysts’ expectations of $57.75 million. Culp had a negative return on equity of 20.92% and a negative net margin of 9.37%. Research analysts expect that Culp, Inc. will post -2.49 EPS for the current fiscal year.
Culp, Inc engages in the design, manufacture, and trade of mattresses and upholstery products. It operates through the Mattress Fabrics and Upholstery Fabrics segments. The Mattress Fabrics segment markets and sells covers and beddings under the Culp Home Fashions brand. The Upholstery Fabrics segment produces and supplies fabrics for residential and commercial manufacturers.
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