American Century Companies Inc. Acquires 53,351 Shares of Modine Manufacturing Company $MOD

American Century Companies Inc. grew its stake in shares of Modine Manufacturing Company (NYSE:MOD) by 40.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 183,675 shares of the auto parts company’s stock after purchasing an additional 53,351 shares during the quarter. American Century Companies Inc. owned approximately 0.35% of Modine Manufacturing worth $26,111,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in MOD. First Horizon Corp bought a new position in Modine Manufacturing in the 3rd quarter worth about $38,000. Parkside Financial Bank & Trust raised its stake in shares of Modine Manufacturing by 2,025.0% during the second 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 in the last quarter. Elevation Point Wealth Partners LLC purchased a new stake in shares of Modine Manufacturing in the second quarter valued at approximately $57,000. Toth Financial Advisory Corp purchased a new stake in shares of Modine Manufacturing in the third quarter valued at approximately $57,000. Finally, AdvisorShares Investments LLC grew its stake in Modine Manufacturing by 154.0% in the third quarter. AdvisorShares Investments LLC now owns 475 shares of the auto parts company’s stock worth $68,000 after purchasing an additional 288 shares in the last quarter. 95.23% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have commented on the company. Wall Street Zen downgraded Modine Manufacturing from a “buy” rating to a “hold” rating in a report on Sunday, February 22nd. Zacks Research upgraded Modine Manufacturing from a “hold” rating to a “strong-buy” rating in a report on Friday, January 30th. DA Davidson increased their price target on Modine Manufacturing from $255.00 to $265.00 and gave the stock a “buy” rating in a research report on Monday, February 9th. UBS Group started coverage on Modine Manufacturing in a research note on Thursday, November 20th. They set a “buy” rating and a $173.00 price target on the stock. Finally, Oppenheimer upped their price objective on shares of Modine Manufacturing from $220.00 to $240.00 and gave the stock an “outperform” rating in a research note on Friday, February 6th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, Modine Manufacturing has an average rating of “Buy” and a consensus price target of $223.20.

Insider Buying and Selling at Modine Manufacturing

In related news, Director Suresh V. Garimella sold 1,100 shares of the firm’s stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $184.07, for a total transaction of $202,477.00. Following the sale, the director owned 79,856 shares of the company’s stock, valued at $14,699,093.92. This trade represents a 1.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.48% of the stock is owned by company insiders.

Modine Manufacturing Stock Performance

Shares of NYSE:MOD opened at $186.47 on Monday. The firm has a 50 day moving average of $177.47 and a 200 day moving average of $158.07. The company has a quick ratio of 1.28, a current ratio of 2.19 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $9.83 billion, a price-to-earnings ratio of 103.60, a price-to-earnings-growth ratio of 1.14 and a beta of 1.66. Modine Manufacturing Company has a 52 week low of $64.79 and a 52 week high of $243.80.

Modine Manufacturing (NYSE:MOD) last announced its earnings results on Wednesday, February 4th. The auto parts company reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.20. Modine Manufacturing had a return on equity of 22.99% and a net margin of 3.40%.The business had revenue of $805.00 million for the quarter, compared to analysts’ expectations of $763.54 million. During the same quarter last year, the firm earned $0.92 EPS. The business’s revenue for the quarter was up 30.5% on a year-over-year basis. On average, sell-side analysts predict that Modine Manufacturing Company will post 3.88 earnings per share for the current fiscal year.

About Modine Manufacturing

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.