Algert Global LLC Purchases Shares of 99,869 Modine Manufacturing Company (MOD)

Algert Global LLC bought a new position in Modine Manufacturing Company (NYSE:MOD) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 99,869 shares of the auto parts company’s stock, valued at approximately $1,922,000. Algert Global LLC owned approximately 0.20% of Modine Manufacturing at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Frontier Capital Management Co. LLC raised its holdings in shares of Modine Manufacturing by 0.8% in the 3rd quarter. Frontier Capital Management Co. LLC now owns 4,907,861 shares of the auto parts company’s stock worth $94,476,000 after purchasing an additional 37,958 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Modine Manufacturing by 5.2% in the 2nd quarter. Vanguard Group Inc. now owns 4,016,073 shares of the auto parts company’s stock worth $66,466,000 after purchasing an additional 198,405 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Modine Manufacturing by 2.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 3,997,909 shares of the auto parts company’s stock worth $76,960,000 after purchasing an additional 95,915 shares in the last quarter. Victory Capital Management Inc. raised its holdings in shares of Modine Manufacturing by 15.1% in the 2nd quarter. Victory Capital Management Inc. now owns 1,662,194 shares of the auto parts company’s stock worth $27,509,000 after purchasing an additional 217,843 shares in the last quarter. Finally, LSV Asset Management raised its holdings in shares of Modine Manufacturing by 1.3% in the 2nd quarter. LSV Asset Management now owns 1,536,696 shares of the auto parts company’s stock worth $25,432,000 after purchasing an additional 19,000 shares in the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

A number of analysts recently commented on the stock. BidaskClub downgraded shares of Modine Manufacturing from a “hold” rating to a “sell” rating in a report on Wednesday, August 23rd. ValuEngine downgraded shares of Modine Manufacturing from a “strong-buy” rating to a “buy” rating in a report on Monday, December 4th. Finally, Zacks Investment Research downgraded shares of Modine Manufacturing from a “buy” rating to a “hold” rating in a report on Thursday, November 9th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $24.00.

Shares of Modine Manufacturing Company (NYSE MOD) opened at $20.65 on Friday. The company has a quick ratio of 0.87, a current ratio of 1.25 and a debt-to-equity ratio of 0.82. Modine Manufacturing Company has a fifty-two week low of $10.10 and a fifty-two week high of $23.95. The company has a market cap of $1,011.88, a P/E ratio of 15.34 and a beta of 1.22.

Modine Manufacturing (NYSE:MOD) last released its earnings results on Tuesday, October 31st. The auto parts company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.14. The business had revenue of $508.30 million for the quarter, compared to the consensus estimate of $466.33 million. Modine Manufacturing had a net margin of 2.29% and a return on equity of 14.94%. The firm’s quarterly revenue was up 60.0% compared to the same quarter last year. During the same period last year, the firm posted ($0.01) earnings per share. analysts predict that Modine Manufacturing Company will post 1.43 earnings per share for the current fiscal year.

In other news, VP Matthew J. Mcburney sold 3,522 shares of Modine Manufacturing stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $22.97, for a total value of $80,900.34. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Scott D. Wollenberg sold 6,414 shares of Modine Manufacturing stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $23.55, for a total transaction of $151,049.70. The disclosure for this sale can be found here. Over the last three months, insiders sold 35,649 shares of company stock worth $780,953. 4.42% of the stock is currently owned by insiders.

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Modine Manufacturing Profile

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.

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

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