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

StockNews.com began coverage on shares of Culp (NYSE:CULPGet Rating) in a research note issued to investors on Tuesday. The brokerage issued a hold rating on the textile maker’s stock.

NYSE:CULP opened at $4.95 on Tuesday. The business’s 50 day moving average is $5.93 and its two-hundred day moving average is $7.65. Culp has a 52 week low of $4.88 and a 52 week high of $17.25. The company has a market cap of $60.48 million, a PE ratio of 14.14, a P/E/G ratio of 1.20 and a beta of 1.13.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Brown Advisory Inc. lifted its holdings in shares of 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 purchasing an additional 3,036 shares during the last quarter. Isthmus Partners LLC lifted its holdings in shares of Culp by 5.8% in the 4th quarter. Isthmus Partners LLC now owns 120,121 shares of the textile maker’s stock worth $1,142,000 after purchasing an additional 6,545 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of 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 purchasing an additional 1,064 shares during the last quarter. Moors & Cabot Inc. lifted its holdings in shares of Culp by 20.6% in the 3rd quarter. Moors & Cabot Inc. now owns 146,084 shares of the textile maker’s stock worth $1,883,000 after purchasing an additional 24,924 shares during the last quarter. Finally, Keeley Teton Advisors LLC lifted its holdings in shares of Culp by 23.8% in 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 last quarter. 79.72% of the stock is currently owned by institutional investors and hedge funds.

Culp Company Profile (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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