Modine Manufacturing Company $MOD Position Cut by Gamco Investors INC. ET AL

Gamco Investors INC. ET AL trimmed its stake in Modine Manufacturing Company (NYSE:MOD) by 16.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 988,449 shares of the auto parts company’s stock after selling 193,307 shares during the period. Modine Manufacturing makes up about 1.4% of Gamco Investors INC. ET AL’s portfolio, making the stock its 7th biggest position. Gamco Investors INC. ET AL’s holdings in Modine Manufacturing were worth $140,518,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of MOD. Vanguard Group Inc. increased its position in shares of Modine Manufacturing by 1.9% during the 3rd quarter. Vanguard Group Inc. now owns 5,080,874 shares of the auto parts company’s stock valued at $722,297,000 after purchasing an additional 97,035 shares during the last quarter. Wasatch Advisors LP lifted its position in Modine Manufacturing by 1.4% in the second quarter. Wasatch Advisors LP now owns 1,792,413 shares of the auto parts company’s stock worth $176,553,000 after buying an additional 23,955 shares during the last quarter. State Street Corp boosted its stake in Modine Manufacturing by 4.2% during the second quarter. State Street Corp now owns 1,309,488 shares of the auto parts company’s stock worth $128,985,000 after buying an additional 53,351 shares during the period. Geode Capital Management LLC boosted its stake in Modine Manufacturing by 1.2% during the second quarter. Geode Capital Management LLC now owns 1,214,976 shares of the auto parts company’s stock worth $119,690,000 after buying an additional 14,096 shares during the period. Finally, JPMorgan Chase & Co. increased its position in Modine Manufacturing by 14.9% during the third quarter. JPMorgan Chase & Co. now owns 1,171,497 shares of the auto parts company’s stock valued at $166,540,000 after acquiring an additional 151,543 shares during the last quarter. Hedge funds and other institutional investors own 95.23% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Modine Manufacturing in a research note on Monday, December 29th. Zacks Research raised shares of Modine Manufacturing from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 30th. Wall Street Zen downgraded shares of Modine Manufacturing from a “buy” rating to a “hold” rating in a report on Sunday, February 22nd. Roth Mkm assumed coverage on shares of Modine Manufacturing in a research report on Wednesday, February 18th. They issued a “buy” rating and a $263.00 price objective on the stock. Finally, DA Davidson raised their price objective on shares of Modine Manufacturing from $255.00 to $265.00 and gave the stock a “buy” rating in a research note on Monday, February 9th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $223.20.

Insiders Place Their Bets

In other Modine Manufacturing news, Director Suresh V. Garimella sold 1,100 shares of the business’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $184.07, for a total value of $202,477.00. Following the completion of the sale, the director directly owned 79,856 shares of the company’s stock, valued at $14,699,093.92. The trade was a 1.36% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.48% of the stock is owned by insiders.

Modine Manufacturing Stock Performance

MOD stock opened at $186.47 on Friday. 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 business’s fifty day simple moving average is $177.47 and its two-hundred day simple moving average is $157.77. Modine Manufacturing Company has a twelve month low of $64.79 and a twelve month high of $243.80. The firm has a market cap of $9.83 billion, a price-to-earnings ratio of 103.60, a PEG ratio of 1.25 and a beta of 1.67.

Modine Manufacturing (NYSE:MOD) last released its earnings results on Wednesday, February 4th. The auto parts company reported $1.19 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.20. The business had revenue of $805.00 million during the quarter, compared to the consensus estimate of $763.54 million. Modine Manufacturing had a return on equity of 22.99% and a net margin of 3.40%.The business’s revenue for the quarter was up 30.5% compared to the same quarter last year. During the same period last year, the company earned $0.92 earnings per share. Analysts predict that Modine Manufacturing Company will post 3.88 earnings per share for the current 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.