Royce & Associates LP Has $40.96 Million Holdings in Modine Manufacturing Company $MOD

Royce & Associates LP raised its stake in shares of Modine Manufacturing Company (NYSE:MOD) by 6.4% in the third quarter, Holdings Channel.com reports. The firm owned 288,102 shares of the auto parts company’s stock after buying an additional 17,455 shares during the period. Royce & Associates LP’s holdings in Modine Manufacturing were worth $40,957,000 as of its most recent SEC filing.

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

Insiders Place Their Bets

In other news, CEO Neil David Brinker sold 31,871 shares of the stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $160.56, for a total transaction of $5,117,207.76. Following the completion of the transaction, the chief executive officer owned 238,312 shares in the company, valued at approximately $38,263,374.72. This represents a 11.80% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Suresh V. Garimella sold 1,100 shares of the business’s stock in a transaction dated 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 sale, the director owned 79,856 shares in the company, valued at $14,699,093.92. This represents a 1.36% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 34,071 shares of company stock worth $5,484,685 in the last ninety days. Insiders own 2.48% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. 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 note on Friday, February 6th. UBS Group assumed coverage on shares of Modine Manufacturing in a research report on Thursday, November 20th. They issued a “buy” rating and a $173.00 price objective for the company. DA Davidson lifted their target price on shares of Modine Manufacturing from $255.00 to $265.00 and gave the stock a “buy” rating in a research report on Monday, February 9th. Zacks Research upgraded Modine Manufacturing from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 30th. Finally, Wall Street Zen downgraded Modine Manufacturing from a “buy” rating to a “hold” rating in a research report on Sunday, February 22nd. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $223.20.

Modine Manufacturing Stock Down 1.0%

MOD opened at $226.61 on Friday. Modine Manufacturing Company has a twelve month low of $64.79 and a twelve month high of $243.80. The company’s 50-day moving average price is $170.20 and its two-hundred day moving average price is $155.44. The stock has a market cap of $11.95 billion, a price-to-earnings ratio of 125.90, a PEG ratio of 1.39 and a beta of 1.71. The company has a quick ratio of 1.28, a current ratio of 2.19 and a debt-to-equity ratio of 0.51.

Modine Manufacturing (NYSE:MOD) last posted its quarterly earnings results on Wednesday, February 4th. The auto parts company reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.20. Modine Manufacturing had a net margin of 3.40% and a return on equity of 22.99%. The company had revenue of $805.00 million for the quarter, compared to analysts’ expectations of $763.54 million. During the same quarter in the previous year, the firm posted $0.92 EPS. Modine Manufacturing’s revenue was up 30.5% on a year-over-year basis. As a group, equities analysts expect that Modine Manufacturing Company will post 3.88 earnings per share for the current year.

Modine Manufacturing 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.