Bank of New York Mellon Corp Has $5.17 Million Stake in Modine Manufacturing Company (MOD)
Bank of New York Mellon Corp grew its position in Modine Manufacturing Company (NYSE:MOD) by 23.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 312,360 shares of the auto parts company’s stock after buying an additional 58,748 shares during the quarter. Bank of New York Mellon Corp owned 0.62% of Modine Manufacturing worth $5,170,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. Bank of America Corp DE raised its position in shares of Modine Manufacturing by 11.5% in the 1st quarter. Bank of America Corp DE now owns 9,799 shares of the auto parts company’s stock valued at $120,000 after buying an additional 1,008 shares in the last quarter. BB&T Securities LLC acquired a new position in shares of Modine Manufacturing in the 1st quarter valued at approximately $159,000. Karp Capital Management Corp acquired a new position in shares of Modine Manufacturing in the 1st quarter valued at approximately $164,000. Aperio Group LLC raised its position in shares of Modine Manufacturing by 0.6% in the 2nd quarter. Aperio Group LLC now owns 13,495 shares of the auto parts company’s stock valued at $223,000 after buying an additional 78 shares in the last quarter. Finally, Citadel Advisors LLC acquired a new position in shares of Modine Manufacturing in the 1st quarter valued at approximately $176,000. Institutional investors own 83.37% of the company’s stock.
A number of research firms recently issued reports on MOD. BidaskClub upgraded shares of Modine Manufacturing from a “sell” rating to a “hold” rating in a research report on Saturday, August 5th. Zacks Investment Research cut shares of Modine Manufacturing from a “buy” rating to a “hold” rating in a research report on Wednesday, August 9th. ValuEngine upgraded shares of Modine Manufacturing from a “hold” rating to a “buy” rating in a research report on Tuesday, August 1st. Finally, TheStreet upgraded shares of Modine Manufacturing from a “c” rating to a “b-” rating in a research report on Tuesday, August 1st. One research analyst has rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold”.
In other Modine Manufacturing news, insider Thomas Andrew Burke sold 84,980 shares of Modine Manufacturing stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $16.19, for a total transaction of $1,375,826.20. Following the completion of the sale, the insider now directly owns 454,673 shares in the company, valued at $7,361,155.87. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 4.42% of the company’s stock.
Modine Manufacturing Company (NYSE MOD) opened at 19.95 on Thursday. Modine Manufacturing Company has a 52-week low of $9.25 and a 52-week high of $20.10. The company’s 50-day moving average is $17.23 and its 200-day moving average is $15.02. The firm has a market capitalization of $999.93 million, a PE ratio of 43.37 and a beta of 1.23.
Modine Manufacturing (NYSE:MOD) last announced its earnings results on Tuesday, August 1st. The auto parts company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.09. Modine Manufacturing had a net margin of 1.35% and a return on equity of 11.16%. The business had revenue of $515.50 million during the quarter, compared to analyst estimates of $482.70 million. During the same period in the previous year, the business posted $0.23 earnings per share. Modine Manufacturing’s revenue for the quarter was up 48.5% on a year-over-year basis. Analysts forecast that Modine Manufacturing Company will post $1.41 EPS for the current fiscal year.
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.
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