BlackRock Inc. Buys 479,011 Shares of Modine Manufacturing Co. (MOD)

BlackRock Inc. boosted its stake in shares of Modine Manufacturing Co. (NYSE:MOD) by 14.6% during the fourth quarter, HoldingsChannel reports. The firm owned 3,764,008 shares of the auto parts company’s stock after purchasing an additional 479,011 shares during the quarter. BlackRock Inc. owned approximately 0.07% of Modine Manufacturing worth $76,032,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of MOD. Keeley Teton Advisors LLC bought a new stake in Modine Manufacturing during the third quarter valued at about $5,164,000. Stifel Financial Corp boosted its position in Modine Manufacturing by 17.1% during the third quarter. Stifel Financial Corp now owns 844,768 shares of the auto parts company’s stock valued at $16,261,000 after purchasing an additional 123,470 shares in the last quarter. Algert Global LLC bought a new stake in Modine Manufacturing during the third quarter valued at about $1,922,000. Dimensional Fund Advisors LP boosted its position in Modine Manufacturing by 2.5% during the third quarter. Dimensional Fund Advisors LP now owns 3,997,909 shares of the auto parts company’s stock valued at $76,960,000 after purchasing an additional 95,915 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its position in Modine Manufacturing by 27.3% during the third quarter. Schwab Charles Investment Management Inc. now owns 324,052 shares of the auto parts company’s stock valued at $6,239,000 after purchasing an additional 69,440 shares in the last quarter. 84.66% of the stock is currently owned by institutional investors.

How to Become a New Pot Stock Millionaire

Shares of NYSE MOD opened at $21.15 on Friday. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.24 and a quick ratio of 0.85. The stock has a market capitalization of $1,067.25, a price-to-earnings ratio of 27.12 and a beta of 1.31. Modine Manufacturing Co. has a fifty-two week low of $10.10 and a fifty-two week high of $25.75.

Modine Manufacturing (NYSE:MOD) last issued its quarterly earnings results on Tuesday, January 30th. The auto parts company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.06. The business had revenue of $512.70 million during the quarter, compared to the consensus estimate of $456.30 million. Modine Manufacturing had a return on equity of 16.54% and a net margin of 0.62%. The company’s quarterly revenue was up 46.6% on a year-over-year basis. During the same quarter last year, the company earned $0.21 earnings per share. equities analysts anticipate that Modine Manufacturing Co. will post 1.5 earnings per share for the current year.

A number of equities research analysts recently weighed in on the company. Zacks Investment Research raised Modine Manufacturing from a “hold” rating to a “buy” rating and set a $24.00 price objective on the stock in a research report on Wednesday, January 10th. ValuEngine downgraded Modine Manufacturing from a “strong-buy” rating to a “buy” rating in a research report on Monday, December 4th.

In other Modine Manufacturing news, VP Scott D. Wollenberg sold 10,035 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $22.76, for a total value of $228,396.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Marsha C. Williams sold 15,000 shares of the firm’s stock in a transaction dated Wednesday, March 28th. The stock was sold at an average price of $20.91, for a total value of $313,650.00. Following the completion of the sale, the director now directly owns 84,541 shares of the company’s stock, valued at approximately $1,767,752.31. The disclosure for this sale can be found here. In the last three months, insiders sold 30,914 shares of company stock valued at $686,901. Corporate insiders own 4.42% of the company’s stock.

ILLEGAL ACTIVITY WARNING: “BlackRock Inc. Buys 479,011 Shares of Modine Manufacturing Co. (MOD)” was reported by WKRB News and is owned by of WKRB News. If you are accessing this report on another publication, it was copied illegally and republished in violation of U.S. & international copyright and trademark law. The original version of this report can be read at https://www.wkrb13.com/2018/04/01/blackrock-inc-buys-479011-shares-of-modine-manufacturing-co-mod.html.

About Modine Manufacturing

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.

Want to see what other hedge funds are holding MOD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Modine Manufacturing Co. (NYSE:MOD).

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

Receive News & Ratings for Modine Manufacturing Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Modine Manufacturing and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply