Gabelli Funds LLC Sells 62,500 Shares of Modine Manufacturing Co. (MOD)

Gabelli Funds LLC trimmed its holdings in Modine Manufacturing Co. (NYSE:MOD) by 6.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 979,000 shares of the auto parts company’s stock after selling 62,500 shares during the period. Gabelli Funds LLC’s holdings in Modine Manufacturing were worth $19,776,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Great West Life Assurance Co. Can grew its stake in Modine Manufacturing by 142.7% in the 3rd quarter. Great West Life Assurance Co. Can now owns 5,781 shares of the auto parts company’s stock valued at $111,000 after buying an additional 3,399 shares in the last quarter. SG Americas Securities LLC purchased a new position in Modine Manufacturing in the 3rd quarter valued at approximately $152,000. UBS Asset Management Americas Inc. purchased a new position in Modine Manufacturing in the 2nd quarter valued at approximately $215,000. Trexquant Investment LP purchased a new position in Modine Manufacturing in the 3rd quarter valued at approximately $222,000. Finally, Legal & General Group Plc grew its position in shares of Modine Manufacturing by 3.2% during the 2nd quarter. Legal & General Group Plc now owns 16,260 shares of the auto parts company’s stock valued at $269,000 after purchasing an additional 497 shares in the last quarter. Institutional investors and hedge funds own 80.81% of the company’s stock.

In other news, COO Thomas F. Marry sold 5,492 shares of Modine Manufacturing stock in a transaction on Tuesday, December 19th. The shares were sold at an average price of $20.98, for a total transaction of $115,222.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Scott L. Bowser sold 3,500 shares of Modine Manufacturing stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $24.36, for a total transaction of $85,260.00. The disclosure for this sale can be found here. Insiders have sold a total of 42,327 shares of company stock valued at $916,526 over the last 90 days. Company insiders own 4.42% of the company’s stock.

Modine Manufacturing Co. (NYSE MOD) opened at $23.65 on Thursday. The company has a market cap of $1,188.36, a price-to-earnings ratio of 98.54 and a beta of 1.34. The company has a current ratio of 1.24, a quick ratio of 0.85 and a debt-to-equity ratio of 0.84. Modine Manufacturing Co. has a 1 year low of $10.10 and a 1 year high of $24.90.

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

A number of research analysts have recently commented on MOD shares. Zacks Investment Research upgraded shares of Modine Manufacturing from a “hold” rating to a “strong-buy” rating and set a $24.00 price target for the company in a research report on Wednesday, October 11th. ValuEngine lowered shares of Modine Manufacturing from a “strong-buy” rating to a “buy” rating in a research report on Monday, December 4th.

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

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