Vanguard Group Inc. Acquires 293,629 Shares of Modine Manufacturing Company (MOD)

Vanguard Group Inc. raised its stake in Modine Manufacturing Company (NYSE:MOD) by 8.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,817,668 shares of the auto parts company’s stock after buying an additional 293,629 shares during the period. Vanguard Group Inc. owned about 0.08% of Modine Manufacturing worth $46,576,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. Frontier Capital Management Co. LLC increased its stake in Modine Manufacturing by 4.4% in the first quarter. Frontier Capital Management Co. LLC now owns 4,879,494 shares of the auto parts company’s stock valued at $59,530,000 after buying an additional 204,378 shares during the last quarter. Gamco Investors INC. ET AL increased its stake in Modine Manufacturing by 6.0% in the first quarter. Gamco Investors INC. ET AL now owns 1,800,888 shares of the auto parts company’s stock valued at $21,971,000 after buying an additional 102,017 shares during the last quarter. LSV Asset Management increased its stake in Modine Manufacturing by 1.3% in the first quarter. LSV Asset Management now owns 1,517,696 shares of the auto parts company’s stock valued at $18,515,000 after buying an additional 19,800 shares during the last quarter. DnB Asset Management AS increased its stake in Modine Manufacturing by 22.9% in the first quarter. DnB Asset Management AS now owns 1,334,355 shares of the auto parts company’s stock valued at $16,279,000 after buying an additional 248,371 shares during the last quarter. Finally, Gabelli Funds LLC increased its stake in Modine Manufacturing by 0.8% in the first quarter. Gabelli Funds LLC now owns 1,070,000 shares of the auto parts company’s stock valued at $13,054,000 after buying an additional 8,500 shares during the last quarter. 82.79% of the stock is owned by institutional investors.

Modine Manufacturing Company (NYSE MOD) traded down 0.791% on Friday, reaching $15.675. 136,336 shares of the company traded hands. The stock’s 50 day moving average price is $16.56 and its 200 day moving average price is $13.64. Modine Manufacturing Company has a one year low of $9.25 and a one year high of $17.85. The company has a market capitalization of $785.66 million, a PE ratio of 34.076 and a beta of 1.20.

Modine Manufacturing (NYSE:MOD) last released its quarterly earnings data on Tuesday, August 1st. The auto parts company reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.09. The business had revenue of $515.50 million during the quarter, compared to analyst estimates of $482.70 million. Modine Manufacturing had a net margin of 1.35% and a return on equity of 11.16%. Modine Manufacturing’s revenue was up 48.5% compared to the same quarter last year. During the same period last year, the business earned $0.23 EPS. On average, equities research analysts predict that Modine Manufacturing Company will post $1.41 EPS for the current fiscal year.

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Several research analysts recently weighed in on MOD shares. ValuEngine upgraded shares of Modine Manufacturing from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Zacks Investment Research cut shares of Modine Manufacturing from a “hold” rating to a “sell” rating in a report on Saturday, April 22nd. BidaskClub cut shares of Modine Manufacturing from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Finally, TheStreet upgraded shares of Modine Manufacturing from a “c” rating to a “b-” rating in a report on Tuesday, August 1st. Two research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Modine Manufacturing currently has an average rating of “Buy” and a consensus target price of $17.00.

In other Modine Manufacturing news, VP Scott D. Wollenberg sold 5,736 shares of the firm’s stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $15.95, for a total transaction of $91,489.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 4.42% of the stock is currently owned by company insiders.

About Modine Manufacturing

Modine Manufacturing Company provides engineered heat transfer systems and heat transfer components for use in on-highway and off-highway original equipment manufacturer (OEM) vehicular applications, and for sale into an array of building, industrial and refrigeration markets. The Company’s products include radiators and radiator cores, exhaust gas recirculation coolers, building heating, ventilating and air conditioning (HVAC) equipment, and coils.

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Institutional Ownership by Quarter for Modine Manufacturing (NYSE:MOD)

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