Modine Manufacturing Company $MOD Holdings Lowered by Gamco Investors INC. ET AL

Gamco Investors INC. ET AL lowered its holdings in shares of Modine Manufacturing Company (NYSE:MOD) by 16.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 988,449 shares of the auto parts company’s stock after selling 193,307 shares during the quarter. Modine Manufacturing makes up 1.4% of Gamco Investors INC. ET AL’s portfolio, making the stock its 7th biggest holding. Gamco Investors INC. ET AL owned approximately 1.88% of Modine Manufacturing worth $140,518,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. First Horizon Corp purchased a new position in Modine Manufacturing in the 3rd quarter worth approximately $38,000. Parkside Financial Bank & Trust grew its holdings in Modine Manufacturing by 2,025.0% during the 2nd quarter. Parkside Financial Bank & Trust now owns 425 shares of the auto parts company’s stock valued at $42,000 after buying an additional 405 shares in the last quarter. Elevation Point Wealth Partners LLC purchased a new stake in Modine Manufacturing during the 2nd quarter valued at approximately $57,000. Toth Financial Advisory Corp bought a new stake in shares of Modine Manufacturing during the third quarter valued at approximately $57,000. Finally, AdvisorShares Investments LLC raised its position in shares of Modine Manufacturing by 154.0% during the third quarter. AdvisorShares Investments LLC now owns 475 shares of the auto parts company’s stock valued at $68,000 after buying an additional 288 shares during the last quarter. Institutional investors own 95.23% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on MOD. Oppenheimer upped their target price on shares of Modine Manufacturing from $220.00 to $240.00 and gave the stock an “outperform” rating in a research report on Friday, February 6th. Weiss Ratings reiterated a “hold (c)” rating on shares of Modine Manufacturing in a report on Monday, December 29th. Zacks Research upgraded 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. Finally, DA Davidson raised their price objective on Modine Manufacturing from $255.00 to $265.00 and gave the company a “buy” rating in a research report on Monday, February 9th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $223.20.

Insider Activity at Modine Manufacturing

In other Modine Manufacturing news, Director Suresh V. Garimella sold 1,100 shares of Modine Manufacturing stock in a transaction on 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 transaction, the director directly owned 79,856 shares of the company’s stock, valued at $14,699,093.92. This trade represents a 1.36% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 2.48% of the stock is owned by insiders.

Modine Manufacturing Stock Down 8.9%

NYSE MOD opened at $186.47 on Friday. The stock has a 50 day moving average price of $177.47 and a 200-day moving average price of $157.77. Modine Manufacturing Company has a one year low of $64.79 and a one year high of $243.80. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.28 and a current ratio of 2.19. The company has a market capitalization of $9.83 billion, a P/E ratio of 103.60, a P/E/G ratio of 1.25 and a beta of 1.67.

Modine Manufacturing (NYSE:MOD) last announced its quarterly 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 company had revenue of $805.00 million for the quarter, compared to analysts’ expectations of $763.54 million. Modine Manufacturing had a net margin of 3.40% and a return on equity of 22.99%. Modine Manufacturing’s quarterly revenue was up 30.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.92 earnings per share. As a group, equities analysts predict that Modine Manufacturing Company will post 3.88 EPS for the current fiscal year.

Modine Manufacturing Company 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.