Gamco Investors INC. ET AL Has $139.62 Million Holdings in Modine Manufacturing (NYSE:MOD)

Gamco Investors INC. ET AL cut its position in Modine Manufacturing (NYSE:MOD) by 5.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,204,314 shares of the auto parts company’s stock after selling 73,971 shares during the quarter. Modine Manufacturing comprises 1.5% of Gamco Investors INC. ET AL’s investment portfolio, making the stock its 6th biggest position. Gamco Investors INC. ET AL owned about 2.29% of Modine Manufacturing worth $139,616,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of MOD. Skandinaviska Enskilda Banken AB publ boosted its stake in Modine Manufacturing by 567.6% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 227 shares of the auto parts company’s stock valued at $27,000 after buying an additional 193 shares during the period. Principal Securities Inc. boosted its position in shares of Modine Manufacturing by 97.8% during the 4th quarter. Principal Securities Inc. now owns 544 shares of the auto parts company’s stock valued at $63,000 after acquiring an additional 269 shares during the last quarter. Nisa Investment Advisors LLC grew its holdings in shares of Modine Manufacturing by 6.5% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,353 shares of the auto parts company’s stock worth $157,000 after purchasing an additional 82 shares in the last quarter. Quantinno Capital Management LP purchased a new stake in Modine Manufacturing in the third quarter valued at approximately $218,000. Finally, Rothschild Investment LLC lifted its position in Modine Manufacturing by 34.4% during the fourth quarter. Rothschild Investment LLC now owns 1,720 shares of the auto parts company’s stock valued at $199,000 after purchasing an additional 440 shares during the last quarter. 95.23% of the stock is owned by institutional investors.

Insider Transactions at Modine Manufacturing

In other news, Director William A. Wulfsohn acquired 2,530 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The shares were bought at an average cost of $79.43 per share, with a total value of $200,957.90. Following the transaction, the director now owns 7,277 shares of the company’s stock, valued at $578,012.11. This trade represents a 53.30 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 2.40% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, DA Davidson reissued a “buy” rating and issued a $155.00 target price on shares of Modine Manufacturing in a research note on Monday, March 17th.

Modine Manufacturing Stock Up 1.1 %

Shares of NYSE MOD opened at $77.51 on Tuesday. The firm has a fifty day simple moving average of $84.31 and a two-hundred day simple moving average of $111.32. The firm has a market capitalization of $4.08 billion, a PE ratio of 26.01, a price-to-earnings-growth ratio of 0.71 and a beta of 2.19. The company has a current ratio of 1.87, a quick ratio of 1.18 and a debt-to-equity ratio of 0.38. Modine Manufacturing has a 12 month low of $64.79 and a 12 month high of $146.84.

Modine Manufacturing (NYSE:MOD) last posted its earnings results on Tuesday, February 4th. The auto parts company reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.79 by $0.13. Modine Manufacturing had a return on equity of 24.25% and a net margin of 6.31%. Equities analysts expect that Modine Manufacturing will post 3.88 earnings per share for the current year.

Modine Manufacturing announced that its Board of Directors has authorized a stock buyback plan on Friday, March 7th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the auto parts company to reacquire up to 2.4% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its shares are undervalued.

About Modine Manufacturing

Modine Manufacturing Company provides thermal management products and solutions in the United States, Italy, Hungary, China, the United Kingdom, and internationally. It operates through Climate Solutions and Performance Technologies segments. The company offers heat transfer coils, including heat recovery and round tube plate fin coils; gas-fired, hydronic, electric and oilfired unit heaters; roof-mounted direct- and indirect-fired makeup air units; duct furnaces; infrared units; perimeter heating products; single packaged unit ventilators; modular chillers; air handler and condensing units; ceiling cassettes; evaporator unit coolers, remote condensers, fluid coolers, gas coolers, and dry and brine coolers; and motor and generator cooling coils, transformer oil coolers, radiators, dryers, and industrial heat exchangers.