Paradigm Capital Management Inc. NY acquired a new position in Modine Manufacturing Company (NYSE:MOD) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 123,900 shares of the auto parts company’s stock, valued at approximately $2,385,000. Paradigm Capital Management Inc. NY owned approximately 0.25% of Modine Manufacturing as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Modine Manufacturing in the second quarter worth $518,000. Comerica Bank acquired a new stake in shares of Modine Manufacturing in the second quarter worth $1,619,000. Schwab Charles Investment Management Inc. increased its position in shares of Modine Manufacturing by 15.0% in the second quarter. Schwab Charles Investment Management Inc. now owns 254,612 shares of the auto parts company’s stock worth $4,214,000 after acquiring an additional 33,237 shares in the last quarter. Swiss National Bank increased its position in shares of Modine Manufacturing by 6.9% in the second quarter. Swiss National Bank now owns 84,000 shares of the auto parts company’s stock worth $1,390,000 after acquiring an additional 5,400 shares in the last quarter. Finally, American International Group Inc. increased its position in shares of Modine Manufacturing by 7.0% in the first quarter. American International Group Inc. now owns 28,990 shares of the auto parts company’s stock worth $354,000 after acquiring an additional 1,907 shares in the last quarter. 80.57% of the stock is owned by institutional investors.
Several equities research analysts have recently issued reports on the stock. Zacks Investment Research lowered shares of Modine Manufacturing from a “buy” rating to a “hold” rating in a research report on Thursday. BidaskClub raised shares of Modine Manufacturing from a “sell” rating to a “hold” rating in a research report on Saturday, August 5th. TheStreet raised shares of Modine Manufacturing from a “c” rating to a “b-” rating in a research report on Tuesday, August 1st. Finally, ValuEngine raised shares of Modine Manufacturing from a “hold” rating to a “buy” rating in a research report on Tuesday, August 1st. One investment analyst has rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company’s stock. Modine Manufacturing currently has a consensus rating of “Hold” and a consensus price target of $24.00.
In other Modine Manufacturing news, insider Thomas Andrew Burke sold 84,980 shares of the stock in a transaction 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 transaction, the insider now directly owns 454,673 shares in the company, valued at approximately $7,361,155.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Scott D. Wollenberg sold 6,414 shares of the stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $23.55, for a total transaction of $151,049.70. The disclosure for this sale can be found here. 4.42% of the stock is currently owned by company insiders.
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Modine Manufacturing Company (NYSE MOD) traded down $0.05 on Monday, reaching $22.55. 175,100 shares of the company were exchanged, compared to its average volume of 316,524. The firm has a market cap of $1,135.22, a price-to-earnings ratio of 17.21 and a beta of 1.20. Modine Manufacturing Company has a 1-year low of $10.10 and a 1-year high of $23.70. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.87 and a current ratio of 1.25.
Modine Manufacturing (NYSE:MOD) last released its quarterly earnings results on Tuesday, October 31st. The auto parts company reported $0.36 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.22 by $0.14. The business had revenue of $508.30 million during the quarter, compared to analyst estimates of $466.33 million. Modine Manufacturing had a net margin of 2.29% and a return on equity of 14.94%. The business’s revenue was up 60.0% on a year-over-year basis. During the same period last year, the business earned ($0.01) EPS. analysts forecast that Modine Manufacturing Company will post 1.43 earnings per share for the current 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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