Vanguard Group Inc. Acquires 95,255 Shares of Modine Manufacturing (NYSE:MOD)

Vanguard Group Inc. boosted its holdings in shares of Modine Manufacturing (NYSE:MODFree Report) by 3.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,056,893 shares of the auto parts company’s stock after buying an additional 95,255 shares during the quarter. Vanguard Group Inc. owned approximately 5.85% of Modine Manufacturing worth $139,853,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. FNY Investment Advisers LLC bought a new position in shares of Modine Manufacturing in the third quarter worth approximately $25,000. PNC Financial Services Group Inc. boosted its position in shares of Modine Manufacturing by 966.7% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,472 shares of the auto parts company’s stock worth $29,000 after purchasing an additional 1,334 shares during the period. Point72 Middle East FZE bought a new position in shares of Modine Manufacturing in the fourth quarter worth approximately $31,000. Quantbot Technologies LP boosted its position in shares of Modine Manufacturing by 123.5% in the first quarter. Quantbot Technologies LP now owns 3,800 shares of the auto parts company’s stock worth $34,000 after purchasing an additional 2,100 shares during the period. Finally, Tower Research Capital LLC TRC boosted its position in shares of Modine Manufacturing by 161.3% in the first quarter. Tower Research Capital LLC TRC now owns 1,680 shares of the auto parts company’s stock worth $38,000 after purchasing an additional 1,037 shares during the period. 95.23% of the stock is currently owned by institutional investors.

Modine Manufacturing Price Performance

Modine Manufacturing stock opened at $93.25 on Wednesday. The company has a market cap of $4.87 billion, a price-to-earnings ratio of 21.99, a PEG ratio of 0.86 and a beta of 2.29. The firm’s fifty day moving average is $82.22 and its 200 day moving average is $61.93. The company has a quick ratio of 1.21, a current ratio of 1.93 and a debt-to-equity ratio of 0.43. Modine Manufacturing has a 52-week low of $19.41 and a 52-week high of $106.01.

Modine Manufacturing (NYSE:MODGet Free Report) last released its quarterly earnings results on Tuesday, January 30th. The auto parts company reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.17. The company had revenue of $561.40 million for the quarter, compared to the consensus estimate of $594.84 million. Modine Manufacturing had a net margin of 9.31% and a return on equity of 25.28%. Modine Manufacturing’s revenue was up .2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.48 earnings per share. Sell-side analysts forecast that Modine Manufacturing will post 3.27 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. B. Riley reiterated a “buy” rating and issued a $98.00 price target (up from $88.00) on shares of Modine Manufacturing in a research report on Tuesday, February 27th. DA Davidson reissued a “buy” rating and issued a $90.00 target price on shares of Modine Manufacturing in a report on Tuesday, February 27th. StockNews.com downgraded shares of Modine Manufacturing from a “buy” rating to a “hold” rating in a report on Wednesday, January 31st. Finally, Oppenheimer began coverage on shares of Modine Manufacturing in a report on Tuesday, March 19th. They issued an “outperform” rating and a $105.00 target price on the stock. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Modine Manufacturing presently has an average rating of “Moderate Buy” and a consensus price target of $97.67.

View Our Latest Stock Analysis on Modine Manufacturing

Insider Activity at Modine Manufacturing

In other Modine Manufacturing news, CFO Michael B. Lucareli sold 82,312 shares of the business’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $90.33, for a total transaction of $7,435,242.96. Following the transaction, the chief financial officer now owns 194,587 shares in the company, valued at $17,577,043.71. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Modine Manufacturing news, CFO Michael B. Lucareli sold 82,312 shares of the business’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $90.33, for a total transaction of $7,435,242.96. Following the transaction, the chief financial officer now owns 194,587 shares in the company, valued at $17,577,043.71. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Brian Jon Agen sold 16,799 shares of the business’s stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $95.64, for a total transaction of $1,606,656.36. Following the transaction, the vice president now owns 102,409 shares in the company, valued at approximately $9,794,396.76. The disclosure for this sale can be found here. Insiders have sold a total of 113,336 shares of company stock valued at $10,330,115 over the last 90 days. 2.86% of the stock is owned by corporate insiders.

Modine Manufacturing Company Profile

(Free Report)

Modine Manufacturing Company provides engineered heat transfer systems and heat transfer components for use in on- and off-highway original equipment manufacturer (OEM) vehicular applications. It operates through Climate Solutions and Performance Technologies segments. The company offers gas-fired, hydronic, electric, and oil-fired unit heaters; indoor and outdoor duct furnaces; infrared units; perimeter heating products, such as commercial fin-tube radiation, cabinet unit heaters, and convectors; roof-mounted direct- and indirect-fired makeup air units; unit ventilators; single packaged vertical units; precision air conditioning units for data center applications; air handler units; fan walls; chillers; ceiling cassettes; hybrid fan coils; and condensers and condensing units.

Further Reading

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Institutional Ownership by Quarter for Modine Manufacturing (NYSE:MOD)

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