GW&K Investment Management LLC Has $20.07 Million Stock Position in Modine Manufacturing Company $MOD

GW&K Investment Management LLC lessened its stake in Modine Manufacturing Company (NYSE:MOD) by 3.3% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 141,205 shares of the auto parts company’s stock after selling 4,822 shares during the quarter. GW&K Investment Management LLC’s holdings in Modine Manufacturing were worth $20,074,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in MOD. Allspring Global Investments Holdings LLC increased its holdings in Modine Manufacturing by 13.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 84,616 shares of the auto parts company’s stock worth $12,512,000 after purchasing an additional 9,989 shares in the last quarter. Schear Investment Advisers LLC bought a new stake in shares of Modine Manufacturing in the second quarter valued at about $1,547,000. Principal Financial Group Inc. boosted its position in shares of Modine Manufacturing by 0.9% during the third quarter. Principal Financial Group Inc. now owns 749,845 shares of the auto parts company’s stock worth $106,598,000 after buying an additional 6,847 shares during the period. Y Intercept Hong Kong Ltd grew its holdings in shares of Modine Manufacturing by 390.6% during the third quarter. Y Intercept Hong Kong Ltd now owns 16,861 shares of the auto parts company’s stock worth $2,397,000 after buying an additional 13,424 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. grew its holdings in shares of Modine Manufacturing by 12.4% during the third quarter. Oppenheimer Asset Management Inc. now owns 48,189 shares of the auto parts company’s stock worth $6,851,000 after buying an additional 5,319 shares in the last quarter. Institutional investors own 95.23% of the company’s stock.

Modine Manufacturing Price Performance

NYSE:MOD opened at $204.36 on Friday. The stock has a market capitalization of $10.78 billion, a PE ratio of 113.53, a P/E/G ratio of 1.28 and a beta of 1.67. Modine Manufacturing Company has a 1-year low of $64.79 and a 1-year high of $243.80. The firm has a fifty day simple moving average of $176.49 and a 200 day simple moving average of $157.44. The company has a current ratio of 2.19, a quick ratio of 1.28 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.20. Modine Manufacturing had a net margin of 3.40% and a return on equity of 22.99%. The firm had revenue of $805.00 million for the quarter, compared to analyst estimates of $763.54 million. During the same period in the prior year, the firm posted $0.92 earnings per share. The company’s quarterly revenue was up 30.5% compared to the same quarter last year. On average, research analysts expect that Modine Manufacturing Company will post 3.88 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

MOD has been the topic of several research reports. Weiss Ratings restated a “hold (c)” rating on shares of Modine Manufacturing in a research note on Monday, December 29th. Wall Street Zen downgraded shares of Modine Manufacturing from a “buy” rating to a “hold” rating in a report on Sunday, February 22nd. Oppenheimer increased their target price on shares of Modine Manufacturing from $220.00 to $240.00 and gave the stock an “outperform” rating in a report on Friday, February 6th. UBS Group began coverage on shares of Modine Manufacturing in a research report on Thursday, November 20th. They issued a “buy” rating and a $173.00 target price for the company. Finally, Zacks Research upgraded shares of Modine Manufacturing from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 30th. 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. Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of $223.20.

Insider Activity

In related news, Director Suresh V. Garimella sold 1,100 shares of the firm’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 directly owned 79,856 shares in the company, valued at approximately $14,699,093.92. This trade represents a 1.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 2.48% of the company’s stock.

About Modine Manufacturing

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.