Grace & White Inc. NY Sells 33,269 Shares of Culp, Inc. (NYSE:CULP)

Grace & White Inc. NY cut its position in shares of Culp, Inc. (NYSE:CULP) by 18.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 146,162 shares of the textile maker’s stock after selling 33,269 shares during the period. Grace & White Inc. NY’s holdings in Culp were worth $846,000 as of its most recent filing with the Securities & Exchange Commission.

Separately, Assenagon Asset Management S.A. bought a new stake in Culp during the 3rd quarter valued at $68,000. 75.05% of the stock is owned by hedge funds and other institutional investors.

Culp Trading Up 2.7 %

Shares of NYSE:CULP traded up $0.12 on Tuesday, reaching $4.55. The company had a trading volume of 9,782 shares, compared to its average volume of 20,638. Culp, Inc. has a 52-week low of $4.20 and a 52-week high of $5.99. The firm’s 50 day simple moving average is $4.72 and its 200-day simple moving average is $5.15. The firm has a market capitalization of $56.74 million, a PE ratio of -4.03 and a beta of 1.29.

Culp (NYSE:CULP) last announced its quarterly earnings results on Wednesday, March 6th. The textile maker reported ($0.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.10). Culp had a negative net margin of 5.75% and a negative return on equity of 15.58%. The company had revenue of $60.42 million during the quarter, compared to analysts’ expectations of $58.98 million. As a group, equities research analysts predict that Culp, Inc. will post -1.09 earnings per share for the current year.

Analysts Set New Price Targets

Separately, StockNews.com started coverage on Culp in a report on Saturday. They issued a “hold” rating on the stock.

Culp Profile

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.