Fruth Investment Management Has $678,000 Position in Bank of New York Mellon Corp (BK)

Fruth Investment Management cut its stake in Bank of New York Mellon Corp (NYSE:BK) by 1.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,450 shares of the bank’s stock after selling 250 shares during the quarter. Fruth Investment Management’s holdings in Bank of New York Mellon were worth $678,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Private Capital Group LLC lifted its position in shares of Bank of New York Mellon by 3.6% during the fourth quarter. Private Capital Group LLC now owns 5,628 shares of the bank’s stock worth $265,000 after purchasing an additional 197 shares during the last quarter. CWM LLC lifted its position in shares of Bank of New York Mellon by 13.3% during the fourth quarter. CWM LLC now owns 1,728 shares of the bank’s stock worth $81,000 after purchasing an additional 203 shares during the last quarter. Marathon Capital Management lifted its position in shares of Bank of New York Mellon by 1.9% during the fourth quarter. Marathon Capital Management now owns 11,040 shares of the bank’s stock worth $519,000 after purchasing an additional 210 shares during the last quarter. Highstreet Asset Management Inc. lifted its position in shares of Bank of New York Mellon by 1.9% during the fourth quarter. Highstreet Asset Management Inc. now owns 11,558 shares of the bank’s stock worth $544,000 after purchasing an additional 216 shares during the last quarter. Finally, Quadrant Capital Group LLC lifted its position in shares of Bank of New York Mellon by 6.2% during the fourth quarter. Quadrant Capital Group LLC now owns 3,792 shares of the bank’s stock worth $168,000 after purchasing an additional 223 shares during the last quarter. Institutional investors own 87.61% of the company’s stock.

Shares of NYSE BK opened at $53.44 on Wednesday. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.70 and a quick ratio of 0.70. The stock has a market capitalization of $50.22 billion, a price-to-earnings ratio of 12.69, a price-to-earnings-growth ratio of 1.50 and a beta of 1.03. Bank of New York Mellon Corp has a fifty-two week low of $43.67 and a fifty-two week high of $58.22.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings results on Wednesday, January 16th. The bank reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.07. The business had revenue of $4.01 billion during the quarter, compared to the consensus estimate of $4.02 billion. Bank of New York Mellon had a return on equity of 11.53% and a net margin of 22.19%. The company’s quarterly revenue was up 7.5% on a year-over-year basis. During the same quarter last year, the company earned $0.91 earnings per share. On average, equities analysts anticipate that Bank of New York Mellon Corp will post 4.25 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Monday, April 29th will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 2.10%. Bank of New York Mellon’s dividend payout ratio is presently 26.60%.

Several equities analysts have recently commented on BK shares. Zacks Investment Research upgraded Bank of New York Mellon from a “sell” rating to a “hold” rating in a research note on Monday, January 21st. Vining Sparks reiterated a “buy” rating and issued a $55.00 target price on shares of Bank of New York Mellon in a research note on Wednesday, January 23rd. Deutsche Bank lifted their target price on Bank of New York Mellon from $57.00 to $58.00 and gave the company a “buy” rating in a research note on Friday, March 15th. Finally, Citigroup lowered Bank of New York Mellon from a “buy” rating to a “neutral” rating and cut their target price for the company from $55.00 to $52.00 in a research note on Wednesday, January 9th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $56.14.

In other Bank of New York Mellon news, CEO Charles W. Scharf sold 4,674 shares of the firm’s stock in a transaction dated Friday, February 15th. The stock was sold at an average price of $52.99, for a total value of $247,675.26. Following the completion of the sale, the chief executive officer now owns 304,118 shares of the company’s stock, valued at $16,115,212.82. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Bridget E. Engle sold 22,670 shares of the firm’s stock in a transaction dated Friday, February 15th. The stock was sold at an average price of $52.99, for a total value of $1,201,283.30. Following the completion of the sale, the vice president now directly owns 92,150 shares of the company’s stock, valued at approximately $4,883,028.50. The disclosure for this sale can be found here. In the last three months, insiders sold 3,713,437 shares of company stock valued at $198,594,100. Corporate insiders own 1.71% of the company’s stock.

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Bank of New York Mellon Profile

The Bank of New York Mellon Corporation provides a range of financial products and services to institutions, corporations, and high net worth individuals in the United States and internationally. The company operates through two segments, Investment Management and Investment Services. It offers investment management, custody, foreign exchange, fund broker-dealer, collateral and liquidity, clearing, corporate trust, global payment, trade finance, and cash management services, as well as securities finance and depositary receipts.

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Institutional Ownership by Quarter for Bank of New York Mellon (NYSE:BK)

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