Jennison Associates LLC Acquires 493 Shares of Modine Manufacturing (NYSE:MOD)

Jennison Associates LLC lifted its holdings in shares of Modine Manufacturing (NYSE:MOD) by 3.3% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 15,233 shares of the auto parts company’s stock after purchasing an additional 493 shares during the period. Jennison Associates LLC’s holdings in Modine Manufacturing were worth $909,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in MOD. Reinhart Partners LLC. bought a new stake in shares of Modine Manufacturing during the fourth quarter worth $41,129,000. American Century Companies Inc. boosted its holdings in Modine Manufacturing by 570.1% in the third quarter. American Century Companies Inc. now owns 700,758 shares of the auto parts company’s stock valued at $32,060,000 after acquiring an additional 596,177 shares during the last quarter. Adage Capital Partners GP L.L.C. boosted its holdings in Modine Manufacturing by 159.5% in the third quarter. Adage Capital Partners GP L.L.C. now owns 480,118 shares of the auto parts company’s stock valued at $21,965,000 after acquiring an additional 295,118 shares during the last quarter. Lord Abbett & CO. LLC boosted its holdings in Modine Manufacturing by 142.2% in the third quarter. Lord Abbett & CO. LLC now owns 339,368 shares of the auto parts company’s stock valued at $15,526,000 after acquiring an additional 199,275 shares during the last quarter. Finally, SG Capital Management LLC boosted its holdings in Modine Manufacturing by 1,457.9% in the third quarter. SG Capital Management LLC now owns 208,659 shares of the auto parts company’s stock valued at $9,546,000 after acquiring an additional 195,265 shares during the last quarter. Institutional investors own 95.23% of the company’s stock.

Insider Transactions at Modine Manufacturing

In other news, CFO Michael B. Lucareli sold 82,312 shares of the firm’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $90.33, for a total transaction of $7,435,242.96. Following the sale, the chief financial officer now owns 194,587 shares of the company’s stock, valued at $17,577,043.71. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, VP Brian Jon Agen sold 16,799 shares of the firm’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $95.64, for a total transaction of $1,606,656.36. Following the sale, the vice president now owns 102,409 shares of the company’s stock, valued at $9,794,396.76. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Michael B. Lucareli sold 82,312 shares of the firm’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $90.33, for a total value of $7,435,242.96. Following the sale, the chief financial officer now directly owns 194,587 shares in the company, valued at approximately $17,577,043.71. 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 company insiders.

Analyst Ratings Changes

Several equities analysts recently issued reports on MOD shares. DA Davidson reiterated a “buy” rating and issued a $90.00 price target on shares of Modine Manufacturing in a report on Tuesday, February 27th. Oppenheimer started coverage on Modine Manufacturing in a report on Tuesday, March 19th. They issued an “outperform” rating and a $105.00 price target on the stock. StockNews.com cut Modine Manufacturing from a “buy” rating to a “hold” rating in a report on Wednesday, January 31st. Finally, B. Riley reiterated a “buy” rating and issued a $98.00 price target (up previously from $88.00) on shares of Modine Manufacturing in a report on Tuesday, February 27th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Modine Manufacturing currently has a consensus rating of “Moderate Buy” and a consensus price target of $97.67.

Modine Manufacturing Trading Up 4.2 %

NYSE:MOD opened at $96.74 on Friday. Modine Manufacturing has a 1-year low of $19.41 and a 1-year high of $106.01. The business’s 50-day moving average price is $90.10 and its two-hundred day moving average price is $67.89. The company has a current ratio of 1.93, a quick ratio of 1.21 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $5.05 billion, a price-to-earnings ratio of 22.82, a PEG ratio of 0.74 and a beta of 2.29.

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

About Modine Manufacturing

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.