Modine Manufacturing (NYSE:MOD) Position Boosted by Assetmark Inc.

Assetmark Inc. raised its holdings in shares of Modine Manufacturing (NYSE:MOD – Get Rating) by 75.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,268 shares of the auto parts company’s stock after acquiring an additional 978 shares during the quarter. Assetmark Inc.’s holdings in Modine Manufacturing were worth $29,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of MOD. Quantbot Technologies LP grew its stake in Modine Manufacturing by 123.5% during the 1st quarter. Quantbot Technologies LP now owns 3,800 shares of the auto parts company’s stock valued at $34,000 after acquiring an additional 2,100 shares in the last quarter. Robeco Institutional Asset Management B.V. bought a new stake in shares of Modine Manufacturing in the 3rd quarter valued at approximately $44,000. Captrust Financial Advisors grew its stake in shares of Modine Manufacturing by 374.5% in the 2nd quarter. Captrust Financial Advisors now owns 4,764 shares of the auto parts company’s stock valued at $50,000 after buying an additional 3,760 shares in the last quarter. US Bancorp DE grew its stake in shares of Modine Manufacturing by 171.4% in the 2nd quarter. US Bancorp DE now owns 4,921 shares of the auto parts company’s stock valued at $52,000 after buying an additional 3,108 shares in the last quarter. Finally, Amalgamated Bank bought a new stake in shares of Modine Manufacturing in the 1st quarter valued at approximately $57,000. Hedge funds and other institutional investors own 89.09% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Michael B. Lucareli sold 60,000 shares of the company’s stock in a transaction that occurred on Monday, November 7th. The stock was sold at an average price of $19.58, for a total transaction of $1,174,800.00. Following the completion of the transaction, the chief financial officer now directly owns 293,287 shares in the company, valued at $5,742,559.46. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 3.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on MOD. EF Hutton Acquisition Co. I began coverage on Modine Manufacturing in a research note on Tuesday, January 17th. They issued a “buy” rating and a $32.00 price target for the company. TheStreet raised Modine Manufacturing from a “c+” rating to a “b-” rating in a research note on Thursday, November 3rd. CJS Securities began coverage on Modine Manufacturing in a research note on Tuesday, December 6th. They issued an “outperform” rating for the company. Finally, StockNews.com cut Modine Manufacturing from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 4th.

Modine Manufacturing Stock Up 2.6 %

Shares of Modine Manufacturing stock opened at $21.78 on Monday. The stock has a market capitalization of $1.13 billion, a P/E ratio of 9.47, a PEG ratio of 0.50 and a beta of 2.27. The company has a quick ratio of 0.97, a current ratio of 1.58 and a debt-to-equity ratio of 0.74. The stock has a 50 day moving average price of $20.93 and a two-hundred day moving average price of $17.03. Modine Manufacturing has a 12-month low of $7.67 and a 12-month high of $23.57.

Modine Manufacturing (NYSE:MOD – Get Rating) last announced its earnings results on Wednesday, November 2nd. The auto parts company reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.11. The firm had revenue of $578.80 million during the quarter, compared to analysts’ expectations of $545.10 million. Modine Manufacturing had a return on equity of 19.79% and a net margin of 5.52%. Equities analysts expect that Modine Manufacturing will post 1.75 earnings per share for the current year.

About Modine Manufacturing

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Modine Manufacturing Company provides engineered heat transfer systems and heat transfer components for use in on- and off-highway original equipment manufacturer (OEM) vehicular applications. It operates through Climate Solutions and Performance Technologies segments. The company offers gas-fired, hydronic, electric, and oil-fired unit heaters; indoor and outdoor duct furnaces; infrared units; perimeter heating products, such as commercial fin-tube radiation, cabinet unit heaters, and convectors; roof-mounted direct- and indirect-fired makeup air units; unit ventilators; single packaged vertical units; precision air conditioning units for data center applications; air handler units; fan walls; chillers; ceiling cassettes; hybrid fan coils; and condensers and condensing units.