Bank of New York Mellon Corp Invests $212,000 in Taylor Devices, Inc. (NASDAQ:TAYD)

Key Points

• Bank of New York Mellon Corp has acquired a new position in Taylor Devices, Inc. (NASDAQ:TAYD), purchasing 6,585 shares valued at approximately $212,000.
• Other hedge funds, including Dimensional Fund Advisors and JPMorgan Chase, have significantly increased their stakes in Taylor Devices, indicating growing institutional interest in the company.
• Taylor Devices, which specializes in manufacturing shock absorption and energy storage devices, has a market capitalization of $139.04 million and a P/E ratio of 17.71.

Bank of New York Mellon Corp purchased a new position in Taylor Devices, Inc. (NASDAQ:TAYD - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 6,585 shares of the industrial products company's stock, valued at approximately $212,000. Bank of New York Mellon Corp owned approximately 0.21% of Taylor Devices at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in TAYD. Dimensional Fund Advisors LP lifted its position in shares of Taylor Devices by 28.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 45,772 shares of the industrial products company's stock worth $1,905,000 after purchasing an additional 10,224 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Taylor Devices by 577.9% in the fourth quarter. JPMorgan Chase & Co. now owns 7,010 shares of the industrial products company's stock worth $292,000 after purchasing an additional 5,976 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Taylor Devices by 9.1% in the fourth quarter. Geode Capital Management LLC now owns 67,425 shares of the industrial products company's stock worth $2,807,000 after purchasing an additional 5,611 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of Taylor Devices by 23.7% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 24,505 shares of the industrial products company's stock worth $1,020,000 after purchasing an additional 4,700 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in Taylor Devices by 16.8% in the fourth quarter. Northern Trust Corp now owns 27,587 shares of the industrial products company's stock worth $1,148,000 after buying an additional 3,958 shares during the last quarter. 17.62% of the stock is owned by hedge funds and other institutional investors.

Taylor Devices Stock Performance

NASDAQ:TAYD opened at $44.28 on Wednesday. The stock's 50 day moving average price is $41.95 and its 200 day moving average price is $36.18. Taylor Devices, Inc. has a 52 week low of $29.50 and a 52 week high of $64.50. The company has a market capitalization of $139.04 million, a P/E ratio of 17.71 and a beta of 0.89.

Taylor Devices Profile

Taylor Devices, Inc engages in design, development, manufacture, and marketing of shock absorption, rate control, and energy storage devices for use in machinery, equipment, and structures in the United States, Asia, and internationally. Its products include seismic dampers that are designed to mitigate the effects of earthquakes on structures; Fluidicshoks, which are compact shock absorbers primarily used in defense, aerospace, and commercial industries; and crane and industrial buffers, which are larger versions of the Fluidicshoks for industrial application on cranes and crane trolleys, truck docks, ladle and ingot cars, ore trolleys, and train car stops.

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