Van Berkom & Associates Inc. Invests $1.91 Million in Modine Manufacturing Company $MOD

Van Berkom & Associates Inc. acquired a new stake in shares of Modine Manufacturing Company (NYSE:MOD) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 13,438 shares of the auto parts company’s stock, valued at approximately $1,910,000.

Several other institutional investors have also bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Modine Manufacturing by 26.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,223 shares of the auto parts company’s stock valued at $2,857,000 after buying an additional 7,831 shares during the period. Janney Montgomery Scott LLC boosted its holdings in shares of Modine Manufacturing by 24.6% in the second quarter. Janney Montgomery Scott LLC now owns 12,430 shares of the auto parts company’s stock valued at $1,224,000 after acquiring an additional 2,454 shares in the last quarter. Truist Financial Corp boosted its holdings in shares of Modine Manufacturing by 12.7% in the second quarter. Truist Financial Corp now owns 10,194 shares of the auto parts company’s stock valued at $1,004,000 after acquiring an additional 1,147 shares in the last quarter. KLP Kapitalforvaltning AS increased its stake in shares of Modine Manufacturing by 7.9% during the second quarter. KLP Kapitalforvaltning AS now owns 10,900 shares of the auto parts company’s stock valued at $1,074,000 after acquiring an additional 800 shares during the period. Finally, Independent Solutions Wealth Management LLC raised its holdings in Modine Manufacturing by 3.5% during the second quarter. Independent Solutions Wealth Management LLC now owns 16,157 shares of the auto parts company’s stock worth $1,591,000 after purchasing an additional 543 shares in the last quarter. Institutional investors and hedge funds own 95.23% of the company’s stock.

Modine Manufacturing Stock Performance

Modine Manufacturing stock opened at $198.90 on Wednesday. Modine Manufacturing Company has a fifty-two week low of $64.79 and a fifty-two week high of $205.74. The firm’s 50 day simple moving average is $145.86 and its 200-day simple moving average is $143.14. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.00 and a quick ratio of 1.16. The company has a market cap of $10.47 billion, a P/E ratio of 57.48, a price-to-earnings-growth ratio of 1.24 and a beta of 1.71.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. UBS Group began coverage on Modine Manufacturing in a research note on Thursday, November 20th. They set a “buy” rating and a $173.00 price target for the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Modine Manufacturing in a research note on Monday, December 29th. KeyCorp boosted their price target on shares of Modine Manufacturing from $160.00 to $175.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 14th. Zacks Research upgraded shares of Modine Manufacturing from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 30th. Finally, Oppenheimer lifted their price objective on shares of Modine Manufacturing from $185.00 to $220.00 and gave the stock an “outperform” rating in a research note on Friday. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $192.00.

Insider Buying and Selling at Modine Manufacturing

In other news, Director Suresh V. Garimella sold 1,100 shares of Modine Manufacturing stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $184.07, for a total transaction of $202,477.00. Following the transaction, the director owned 79,856 shares in the company, valued at approximately $14,699,093.92. The trade was a 1.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Neil David Brinker sold 31,871 shares of the stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $160.56, for a total value of $5,117,207.76. Following the completion of the sale, the chief executive officer directly owned 238,312 shares of the company’s stock, valued at approximately $38,263,374.72. This represents a 11.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 34,071 shares of company stock worth $5,484,685. Company insiders own 2.48% of the company’s stock.

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.