Modine Manufacturing Company $MOD Shares Purchased by Gabelli Funds LLC

Gabelli Funds LLC lifted its stake in Modine Manufacturing Company (NYSE:MOD) by 2.4% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 421,200 shares of the auto parts company’s stock after acquiring an additional 9,900 shares during the period. Gabelli Funds LLC’s holdings in Modine Manufacturing were worth $41,488,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of the stock. Handelsbanken Fonder AB increased its stake in Modine Manufacturing by 0.8% during the 2nd quarter. Handelsbanken Fonder AB now owns 13,100 shares of the auto parts company’s stock valued at $1,290,000 after purchasing an additional 100 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Modine Manufacturing by 5.5% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 2,006 shares of the auto parts company’s stock valued at $154,000 after buying an additional 105 shares during the last quarter. Vanguard Personalized Indexing Management LLC grew its holdings in shares of Modine Manufacturing by 3.7% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 4,602 shares of the auto parts company’s stock valued at $453,000 after buying an additional 165 shares during the last quarter. Ethic Inc. increased its position in shares of Modine Manufacturing by 5.8% in the 2nd quarter. Ethic Inc. now owns 3,396 shares of the auto parts company’s stock valued at $344,000 after acquiring an additional 185 shares during the period. Finally, GAMMA Investing LLC raised its stake in Modine Manufacturing by 52.6% in the 2nd quarter. GAMMA Investing LLC now owns 560 shares of the auto parts company’s stock worth $55,000 after acquiring an additional 193 shares during the last quarter. Hedge funds and other institutional investors own 95.23% of the company’s stock.

Insider Buying and Selling

In other news, CEO Neil David Brinker sold 31,871 shares of the business’s stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $160.56, for a total value of $5,117,207.76. Following the completion of the sale, the chief executive officer directly owned 238,312 shares in the company, valued at $38,263,374.72. The trade was a 11.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 2.48% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Oppenheimer boosted their price target on Modine Manufacturing from $145.00 to $180.00 and gave the company an “outperform” rating in a research note on Tuesday, October 14th. Zacks Research lowered Modine Manufacturing from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 29th. Weiss Ratings reiterated a “hold (c)” rating on shares of Modine Manufacturing in a report on Monday, December 1st. KeyCorp raised their price target on shares of Modine Manufacturing from $160.00 to $175.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 14th. Finally, DA Davidson reaffirmed a “buy” rating and issued a $200.00 price objective on shares of Modine Manufacturing in a report on Wednesday, November 19th. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $182.00.

Modine Manufacturing Stock Performance

Shares of NYSE MOD opened at $162.89 on Friday. The company has a market capitalization of $8.58 billion, a PE ratio of 47.08, a price-to-earnings-growth ratio of 1.04 and a beta of 1.69. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.16 and a current ratio of 2.00. The company’s fifty day moving average price is $151.40 and its 200 day moving average price is $128.76. Modine Manufacturing Company has a 1 year low of $64.79 and a 1 year high of $166.94.

Modine Manufacturing (NYSE:MOD) last posted its earnings results on Tuesday, October 28th. The auto parts company reported $1.06 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $0.09. Modine Manufacturing had a return on equity of 23.19% and a net margin of 6.93%.The firm had revenue of $738.90 million for the quarter, compared to analysts’ expectations of $699.91 million. During the same period last year, the firm earned $0.97 EPS. The company’s quarterly revenue was up 12.3% on a year-over-year basis. On average, research analysts predict that Modine Manufacturing Company will post 3.88 earnings per share for the current year.

Modine Manufacturing Company Profile

Modine Manufacturing Company provides thermal management products and solutions in the United States, Italy, Hungary, China, the United Kingdom, and internationally. It operates through Climate Solutions and Performance Technologies segments. The company offers heat transfer coils, including heat recovery and round tube plate fin coils; gas-fired, hydronic, electric and oilfired unit heaters; roof-mounted direct- and indirect-fired makeup air units; duct furnaces; infrared units; perimeter heating products; single packaged unit ventilators; modular chillers; air handler and condensing units; ceiling cassettes; evaporator unit coolers, remote condensers, fluid coolers, gas coolers, and dry and brine coolers; and motor and generator cooling coils, transformer oil coolers, radiators, dryers, and industrial heat exchangers.