Modine Manufacturing (NYSE:MOD) Shares Purchased by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC grew its position in shares of Modine Manufacturing (NYSE:MOD) by 528.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 96,219 shares of the auto parts company’s stock after purchasing an additional 80,908 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.18% of Modine Manufacturing worth $5,744,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of MOD. Nisa Investment Advisors LLC grew its holdings in Modine Manufacturing by 51.8% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,172 shares of the auto parts company’s stock worth $70,000 after acquiring an additional 400 shares during the period. Great West Life Assurance Co. Can boosted its position in shares of Modine Manufacturing by 8.7% during the 2nd quarter. Great West Life Assurance Co. Can now owns 6,001 shares of the auto parts company’s stock valued at $199,000 after purchasing an additional 479 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Modine Manufacturing by 1.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 42,861 shares of the auto parts company’s stock worth $988,000 after purchasing an additional 575 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Modine Manufacturing by 2.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 20,874 shares of the auto parts company’s stock worth $689,000 after purchasing an additional 593 shares in the last quarter. Finally, Legal & General Group Plc lifted its stake in Modine Manufacturing by 3.7% during the fourth quarter. Legal & General Group Plc now owns 16,822 shares of the auto parts company’s stock valued at $334,000 after purchasing an additional 604 shares during the last quarter. Institutional investors own 95.23% of the company’s stock.

Modine Manufacturing Stock Down 2.3 %

Shares of Modine Manufacturing stock opened at $83.71 on Friday. The stock has a 50-day moving average price of $88.50 and a 200 day moving average price of $65.95. The company has a market cap of $4.37 billion, a P/E ratio of 19.74, a P/E/G ratio of 0.69 and a beta of 2.29. The company has a current ratio of 1.93, a quick ratio of 1.21 and a debt-to-equity ratio of 0.43. Modine Manufacturing has a 1 year low of $19.41 and a 1 year high of $106.01.

Modine Manufacturing (NYSE:MOD) last announced its quarterly earnings data on Tuesday, January 30th. The auto parts company reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.17. The firm had revenue of $561.40 million during the quarter, compared to the consensus estimate of $594.84 million. Modine Manufacturing had a return on equity of 25.28% and a net margin of 9.31%. The business’s revenue for the quarter was up .2% on a year-over-year basis. During the same period in the prior year, the business earned $0.48 EPS. As a group, analysts expect that Modine Manufacturing will post 3.27 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on MOD. Oppenheimer initiated coverage on shares of Modine Manufacturing in a research report on Tuesday, March 19th. They issued an “outperform” rating and a $105.00 price target on the stock. DA Davidson reaffirmed a “buy” rating and set a $90.00 target price on shares of Modine Manufacturing in a research report on Tuesday, February 27th. B. Riley reaffirmed a “buy” rating and set a $98.00 target price (up from $88.00) on shares of Modine Manufacturing in a report on Tuesday, February 27th. Finally, StockNews.com downgraded Modine Manufacturing from a “buy” rating to a “hold” rating in a report on Wednesday, January 31st. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $97.67.

Insider Transactions at Modine Manufacturing

In other news, CFO Michael B. Lucareli sold 82,312 shares of the firm’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $90.33, for a total transaction of $7,435,242.96. Following the completion of the sale, the chief financial officer now directly owns 194,587 shares of the company’s stock, valued at approximately $17,577,043.71. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, VP Brian Jon Agen sold 16,799 shares of the stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $95.64, for a total transaction of $1,606,656.36. Following the transaction, the vice president now owns 102,409 shares of the company’s stock, valued at approximately $9,794,396.76. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Michael B. Lucareli sold 82,312 shares of the stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $90.33, for a total value of $7,435,242.96. Following the transaction, the chief financial officer now directly owns 194,587 shares in the company, valued at approximately $17,577,043.71. The disclosure for this sale can be found here. Insiders sold 113,336 shares of company stock valued at $10,330,115 in the last three months. Corporate insiders own 2.86% of the company’s stock.

About Modine Manufacturing

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. It operates through Climate Solutions and Performance Technologies segments. The company offers gas-fired, hydronic, electric, and oil-fired unit heaters; indoor and outdoor duct furnaces; infrared units; perimeter heating products, such as commercial fin-tube radiation, cabinet unit heaters, and convectors; roof-mounted direct- and indirect-fired makeup air units; unit ventilators; single packaged vertical units; precision air conditioning units for data center applications; air handler units; fan walls; chillers; ceiling cassettes; hybrid fan coils; and condensers and condensing units.