Congress Asset Management Co. Purchases 477,473 Shares of Modine Manufacturing Company $MOD

Congress Asset Management Co. lifted its position in shares of Modine Manufacturing Company (NYSE:MOD) by 954.8% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 527,480 shares of the auto parts company’s stock after acquiring an additional 477,473 shares during the quarter. Congress Asset Management Co. owned approximately 1.00% of Modine Manufacturing worth $74,987,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Parkside Financial Bank & Trust raised its stake in Modine Manufacturing by 2,025.0% in the 2nd quarter. Parkside Financial Bank & Trust now owns 425 shares of the auto parts company’s stock valued at $42,000 after acquiring an additional 405 shares during the period. Maseco LLP purchased a new position in shares of Modine Manufacturing in the second quarter worth about $51,000. GAMMA Investing LLC raised its position in shares of Modine Manufacturing by 52.6% in the second quarter. GAMMA Investing LLC now owns 560 shares of the auto parts company’s stock valued at $55,000 after purchasing an additional 193 shares during the period. Elevation Point Wealth Partners LLC purchased a new stake in shares of Modine Manufacturing during the 2nd quarter valued at approximately $57,000. Finally, Toth Financial Advisory Corp bought a new position in Modine Manufacturing in the 3rd quarter worth approximately $57,000. Hedge funds and other institutional investors own 95.23% of the company’s stock.

Analyst Ratings Changes

MOD has been the subject of a number of recent research reports. Zacks Research lowered shares of Modine Manufacturing from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 29th. DA Davidson reiterated a “buy” rating and issued a $200.00 price target on shares of Modine Manufacturing in a research report on Wednesday, November 19th. Oppenheimer boosted their price objective on Modine Manufacturing from $145.00 to $180.00 and gave the company an “outperform” rating in a research note on Tuesday, October 14th. KeyCorp increased their price objective on Modine Manufacturing from $160.00 to $175.00 and gave the stock an “overweight” rating in a report on Tuesday, October 14th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Modine Manufacturing in a report on Monday, December 15th. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $182.00.

Insider Activity at Modine Manufacturing

In related news, CEO Neil David Brinker sold 31,871 shares of the company’s stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $160.56, for a total value of $5,117,207.76. Following the transaction, the chief executive officer directly owned 238,312 shares in the company, valued at approximately $38,263,374.72. This represents a 11.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.48% of the company’s stock.

Modine Manufacturing Trading Up 1.4%

Shares of MOD stock opened at $135.86 on Friday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.16 and a current ratio of 2.00. Modine Manufacturing Company has a 52-week low of $64.79 and a 52-week high of $166.94. The company has a market capitalization of $7.15 billion, a PE ratio of 39.27, a price-to-earnings-growth ratio of 0.86 and a beta of 1.69. The business’s fifty day moving average is $150.89 and its 200 day moving average is $132.56.

Modine Manufacturing (NYSE:MOD) last posted its earnings results on Tuesday, October 28th. The auto parts company reported $1.06 EPS for the quarter, topping the consensus estimate of $0.97 by $0.09. Modine Manufacturing had a return on equity of 23.19% and a net margin of 6.93%.The business had revenue of $738.90 million during the quarter, compared to analysts’ expectations of $699.91 million. During the same period in the previous year, the business earned $0.97 earnings per share. The firm’s revenue was up 12.3% on a year-over-year basis. On average, equities research analysts anticipate that Modine Manufacturing Company will post 3.88 EPS for the current fiscal year.

Modine Manufacturing Profile

Modine Manufacturing Company (NYSE:MOD) is a global provider of thermal management solutions serving automotive, commercial transportation, heavy-duty off-highway, industrial, HVAC and refrigeration markets. The company designs, manufactures, tests and markets a broad array of heat-transfer products that manage temperature and energy efficiency for engines, power electronics and building climate control systems.

Its product portfolio includes heat exchangers, condensers, radiators, evaporators, charge air coolers, fan systems and associated controls.