Comerica Bank increased its stake in shares of Modine Manufacturing Co. (NYSE:MOD) by 36.6% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 135,894 shares of the auto parts company’s stock after buying an additional 36,386 shares during the period. Comerica Bank’s holdings in Modine Manufacturing were worth $3,064,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently modified their holdings of MOD. Teachers Advisors LLC lifted its position in Modine Manufacturing by 6.8% during the 2nd quarter. Teachers Advisors LLC now owns 112,977 shares of the auto parts company’s stock worth $1,870,000 after buying an additional 7,190 shares in the last quarter. New York State Common Retirement Fund lifted its position in Modine Manufacturing by 32.5% during the 2nd quarter. New York State Common Retirement Fund now owns 102,386 shares of the auto parts company’s stock worth $1,694,000 after buying an additional 25,128 shares in the last quarter. UBS Asset Management Americas Inc. acquired a new position in Modine Manufacturing during the 2nd quarter worth about $215,000. Northern Trust Corp lifted its position in Modine Manufacturing by 11.5% during the 2nd quarter. Northern Trust Corp now owns 976,221 shares of the auto parts company’s stock worth $16,156,000 after buying an additional 100,868 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in Modine Manufacturing by 5.2% during the 2nd quarter. Vanguard Group Inc. now owns 4,016,073 shares of the auto parts company’s stock worth $66,466,000 after buying an additional 198,405 shares in the last quarter. Institutional investors and hedge funds own 80.61% of the company’s stock.
Modine Manufacturing Co. (NYSE MOD) opened at $24.00 on Tuesday. The company has a current ratio of 1.24, a quick ratio of 0.85 and a debt-to-equity ratio of 0.84. Modine Manufacturing Co. has a 52-week low of $10.10 and a 52-week high of $24.90. The stock has a market cap of $1,211.07, a PE ratio of 100.00 and a beta of 1.34.
Modine Manufacturing (NYSE:MOD) last released its earnings results on Tuesday, January 30th. The auto parts company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.06. Modine Manufacturing had a net margin of 0.62% and a return on equity of 16.54%. The company had revenue of $512.70 million for the quarter, compared to the consensus estimate of $456.30 million. During the same period in the prior year, the company posted $0.21 EPS. The company’s revenue was up 46.6% compared to the same quarter last year. equities research analysts anticipate that Modine Manufacturing Co. will post 1.5 earnings per share for the current year.
In other Modine Manufacturing news, VP Scott L. Bowser sold 3,500 shares of the company’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $24.36, for a total transaction of $85,260.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Scott D. Wollenberg sold 10,035 shares of the company’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $22.76, for a total transaction of $228,396.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 45,362 shares of company stock worth $991,133. Corporate insiders own 4.42% of the company’s stock.
Several research analysts recently issued reports on MOD shares. Zacks Investment Research downgraded shares of Modine Manufacturing from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. ValuEngine downgraded shares of Modine Manufacturing from a “strong-buy” rating to a “buy” rating in a research report on Monday, December 4th.
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Modine Manufacturing Company 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.
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