StockNews.com Initiates Coverage on Culp (NYSE:CULP)

StockNews.com began coverage on shares of Culp (NYSE:CULPGet Rating) in a research report released on Tuesday morning. The firm issued a hold rating on the textile maker’s stock.

Shares of Culp stock opened at $4.95 on Tuesday. Culp has a 1 year low of $4.88 and a 1 year high of $17.25. The company has a market capitalization of $60.48 million, a P/E ratio of 14.14, a P/E/G ratio of 1.20 and a beta of 1.13. The business has a 50 day moving average price of $5.93 and a 200 day moving average price of $7.65.

Several institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC grew its stake in Culp by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 78,525 shares of the textile maker’s stock worth $1,011,000 after acquiring an additional 1,064 shares during the period. State Street Corp grew its stake in Culp by 5.2% in the 1st quarter. State Street Corp now owns 41,621 shares of the textile maker’s stock worth $330,000 after acquiring an additional 2,071 shares during the period. Brown Advisory Inc. grew its stake in Culp by 0.6% in the 4th quarter. Brown Advisory Inc. now owns 537,057 shares of the textile maker’s stock worth $5,107,000 after acquiring an additional 3,036 shares during the period. Oppenheimer & Co. Inc. grew its stake in Culp by 4.9% in the 1st quarter. Oppenheimer & Co. Inc. now owns 86,167 shares of the textile maker’s stock worth $684,000 after acquiring an additional 4,000 shares during the period. Finally, American Century Companies Inc. grew its stake in Culp by 26.5% in the 4th quarter. American Century Companies Inc. now owns 30,979 shares of the textile maker’s stock worth $295,000 after acquiring an additional 6,481 shares during the period. Hedge funds and other institutional investors own 79.72% of the company’s stock.

About Culp (Get Rating)

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 North America, the Far East, Asia, and internationally. It operates in two segments, Mattress Fabrics and Upholstery Fabrics. The Mattress Fabrics segment offers woven jacquard, knitted, and converted fabrics for use in the production of bedding products, including mattresses, box springs, foundations, and top of bed components.

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