Ameriprise Financial Inc. Buys 42,216 Shares of Culp, Inc. (NYSE:CULP)

Ameriprise Financial Inc. raised its stake in Culp, Inc. (NYSE:CULP) by 8.4% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 541,905 shares of the textile maker’s stock after acquiring an additional 42,216 shares during the period. Ameriprise Financial Inc.’s holdings in Culp were worth $3,181,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of CULP. 22NW LP lifted its position in shares of Culp by 1.9% in the fourth quarter. 22NW LP now owns 1,624,715 shares of the textile maker’s stock worth $9,537,000 after purchasing an additional 30,325 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Culp by 1.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 537,726 shares of the textile maker’s stock worth $3,156,000 after purchasing an additional 5,091 shares in the last quarter. Northern Trust Corp lifted its position in shares of Culp by 35.2% in the fourth quarter. Northern Trust Corp now owns 56,182 shares of the textile maker’s stock worth $330,000 after purchasing an additional 14,634 shares in the last quarter. Finally, HighTower Advisors LLC lifted its position in shares of Culp by 49.5% in the fourth quarter. HighTower Advisors LLC now owns 36,046 shares of the textile maker’s stock worth $212,000 after purchasing an additional 11,929 shares in the last quarter. Institutional investors own 75.05% of the company’s stock.

Insider Transactions at Culp

In other news, major shareholder Aron R. English bought 6,077 shares of the stock in a transaction that occurred on Wednesday, March 12th. The shares were acquired at an average cost of $5.05 per share, for a total transaction of $30,688.85. Following the completion of the acquisition, the insider now owns 1,711,304 shares in the company, valued at approximately $8,642,085.20. This represents a 0.36% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Robert George Iv Culp bought 14,001 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were purchased at an average price of $4.94 per share, for a total transaction of $69,164.94. Following the completion of the acquisition, the chief executive officer now owns 92,030 shares of the company’s stock, valued at $454,628.20. The trade was a 17.94% increase in their position. The disclosure for this purchase can be found here. Insiders have acquired a total of 67,403 shares of company stock valued at $345,152 over the last 90 days. 7.30% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen assumed coverage on shares of Culp in a research report on Saturday, May 17th. They issued a “hold” rating on the stock.

Culp Stock Up 0.4%

Shares of CULP stock opened at $4.19 on Wednesday. The company’s fifty day simple moving average is $4.20 and its 200-day simple moving average is $4.94. The firm has a market cap of $52.56 million, a PE ratio of -2.49 and a beta of 1.16. Culp, Inc. has a 12 month low of $3.42 and a 12 month high of $6.85.

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.