Bank of New York Mellon Corp Reduces Stake in Chase Manhattan Co. (CCF)

Bank of New York Mellon Corp reduced its position in Chase Manhattan Co. (NYSEAMERICAN:CCF) by 6.6% during the fourth quarter, Holdings Channel reports. The institutional investor owned 43,957 shares of the construction company’s stock after selling 3,109 shares during the period. Bank of New York Mellon Corp’s holdings in Chase Manhattan were worth $5,297,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in the company. Wells Fargo & Company MN lifted its position in Chase Manhattan by 29.7% during the fourth quarter. Wells Fargo & Company MN now owns 11,704 shares of the construction company’s stock valued at $1,410,000 after purchasing an additional 2,683 shares in the last quarter. Anchor Capital Advisors LLC purchased a new position in Chase Manhattan during the fourth quarter valued at $202,000. Teacher Retirement System of Texas purchased a new position in Chase Manhattan during the fourth quarter valued at $313,000. Algert Global LLC purchased a new position in Chase Manhattan during the fourth quarter valued at $220,000. Finally, Congress Asset Management Co. MA lifted its position in Chase Manhattan by 17.6% during the fourth quarter. Congress Asset Management Co. MA now owns 11,439 shares of the construction company’s stock valued at $1,378,000 after purchasing an additional 1,708 shares in the last quarter.

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In other Chase Manhattan news, Director Thomas Wroe, Jr. sold 450 shares of the firm’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $107.96, for a total transaction of $48,582.00. Following the sale, the director now directly owns 6,011 shares of the company’s stock, valued at $648,947.56. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Kenneth James Feroldi sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, January 17th. The shares were sold at an average price of $116.31, for a total value of $232,620.00. Following the sale, the chief financial officer now directly owns 18,525 shares in the company, valued at $2,154,642.75. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,730 shares of company stock worth $421,651.

NYSEAMERICAN:CCF opened at $107.55 on Friday. Chase Manhattan Co. has a 52 week low of $83.35 and a 52 week high of $129.55.

Chase Manhattan (NYSEAMERICAN:CCF) last posted its quarterly earnings results on Monday, January 8th. The construction company reported $0.88 EPS for the quarter. The business had revenue of $61.92 million for the quarter. Chase Manhattan had a return on equity of 15.54% and a net margin of 13.43%.

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Chase Manhattan Profile

Chase Corporation manufactures and sells protective materials for various applications worldwide. It operates through two segments, Industrial Materials and Construction Materials. The Industrial Materials segment offers insulating and conducting materials to wire and cable manufacturers; laminated film foils for communication and local area network cables; moisture protective coatings for electronics industry; laminated durable papers, including laminated papers for envelope converting and commercial printing industries; pulling and detection tapes for fiber optic cables, and water and natural gas lines, as well as power, data, and video cables; cover tapes for semiconductor components; advanced adhesives, sealants, and coatings for automotive and industrial applications; polymeric microspheres; water-based polyurethane dispersions for various coating products; and composite strength elements for use in wind energy generation.

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Institutional Ownership by Quarter for Chase Manhattan (NYSEAMERICAN:CCF)

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