Vanguard Group Inc. Buys 7,876 Shares of Modine Manufacturing Co. (NYSE:MOD)

Vanguard Group Inc. increased its stake in Modine Manufacturing Co. (NYSE:MOD) by 0.2% during the second quarter, Holdings Channel.com reports. The firm owned 4,509,530 shares of the auto parts company’s stock after purchasing an additional 7,876 shares during the quarter. Vanguard Group Inc. owned 0.09% of Modine Manufacturing worth $64,531,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently made changes to their positions in the stock. A.R.T. Advisors LLC purchased a new stake in Modine Manufacturing in the 2nd quarter worth $215,000. Jacobs Levy Equity Management Inc. increased its stake in Modine Manufacturing by 2.5% in the 2nd quarter. Jacobs Levy Equity Management Inc. now owns 100,056 shares of the auto parts company’s stock worth $1,432,000 after buying an additional 2,442 shares in the last quarter. Parametric Portfolio Associates LLC increased its stake in Modine Manufacturing by 43.5% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 1,013,618 shares of the auto parts company’s stock worth $14,505,000 after buying an additional 307,036 shares in the last quarter. Grantham Mayo Van Otterloo & Co. LLC increased its stake in Modine Manufacturing by 11.3% in the 2nd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 159,921 shares of the auto parts company’s stock worth $2,288,000 after buying an additional 16,300 shares in the last quarter. Finally, Northern Trust Corp increased its stake in Modine Manufacturing by 1.9% in the 2nd quarter. Northern Trust Corp now owns 989,102 shares of the auto parts company’s stock worth $14,154,000 after buying an additional 18,630 shares in the last quarter. 87.38% of the stock is currently owned by institutional investors.

A number of equities research analysts have issued reports on MOD shares. Zacks Investment Research upgraded Modine Manufacturing from a “sell” rating to a “hold” rating in a research note on Thursday, October 3rd. Dougherty & Co assumed coverage on Modine Manufacturing in a research report on Wednesday, August 28th. They set a “buy” rating and a $13.00 price objective for the company. DA Davidson reaffirmed a “neutral” rating on shares of Modine Manufacturing in a report on Wednesday, September 11th. ValuEngine raised shares of Modine Manufacturing from a “strong sell” rating to a “sell” rating in a research note on Wednesday, October 2nd. Finally, TheStreet lowered shares of Modine Manufacturing from a “b-” rating to a “c” rating in a report on Friday, September 20th. One analyst has rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $13.83.

Shares of MOD opened at $10.49 on Friday. The firm has a market capitalization of $532.37 million, a PE ratio of 6.68, a price-to-earnings-growth ratio of 0.72 and a beta of 2.01. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.17 and a quick ratio of 0.78. Modine Manufacturing Co. has a 1-year low of $9.50 and a 1-year high of $16.67. The company’s fifty day moving average price is $10.57 and its 200-day moving average price is $12.96.

Modine Manufacturing (NYSE:MOD) last announced its quarterly earnings data on Wednesday, July 31st. The auto parts company reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.05). The company had revenue of $529.00 million for the quarter, compared to analysts’ expectations of $544.88 million. Modine Manufacturing had a net margin of 3.25% and a return on equity of 14.19%. Modine Manufacturing’s quarterly revenue was down 6.5% compared to the same quarter last year. During the same period last year, the firm earned $0.41 earnings per share. As a group, research analysts anticipate that Modine Manufacturing Co. will post 1.37 EPS for the current fiscal year.

Modine Manufacturing Company Profile

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 primarily in the United States. The company operates through Americas, Europe, Asia, Commercial and Industrial Solutions, and Building HVAC segments.

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Institutional Ownership by Quarter for Modine Manufacturing (NYSE:MOD)

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