Bank of New York Mellon Corp increased its holdings in shares of Modine Manufacturing Company (NYSE:MOD) by 23.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 312,360 shares of the auto parts company’s stock after buying an additional 58,748 shares during the quarter. Bank of New York Mellon Corp owned 0.62% of Modine Manufacturing worth $5,170,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Bank of America Corp DE lifted its position in shares of Modine Manufacturing by 11.5% in the first quarter. Bank of America Corp DE now owns 9,799 shares of the auto parts company’s stock worth $120,000 after buying an additional 1,008 shares during the last quarter. BB&T Securities LLC acquired a new stake in shares of Modine Manufacturing in the first quarter worth about $159,000. Karp Capital Management Corp acquired a new stake in shares of Modine Manufacturing in the first quarter worth about $164,000. Aperio Group LLC lifted its position in shares of Modine Manufacturing by 0.6% in the second quarter. Aperio Group LLC now owns 13,495 shares of the auto parts company’s stock worth $223,000 after buying an additional 78 shares during the last quarter. Finally, Citadel Advisors LLC acquired a new stake in shares of Modine Manufacturing in the first quarter worth about $176,000. 83.37% of the stock is owned by hedge funds and other institutional investors.

A number of analysts have weighed in on the company. Zacks Investment Research raised 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. TheStreet upgraded Modine Manufacturing from a “c” rating to a “b-” rating in a research note on Tuesday, August 1st. BidaskClub upgraded Modine Manufacturing from a “sell” rating to a “hold” rating in a research note on Saturday, August 5th. Finally, ValuEngine upgraded Modine Manufacturing from a “hold” rating to a “buy” rating in a research note on Tuesday, August 1st. One equities research analyst has rated the stock with a sell rating, two have given a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $24.00.

Shares of Modine Manufacturing Company (MOD) traded down 0.96% during trading on Friday, reaching $20.70. The company had a trading volume of 262,648 shares. The firm has a 50 day moving average price of $18.21 and a 200 day moving average price of $15.46. Modine Manufacturing Company has a 12 month low of $9.25 and a 12 month high of $21.15. The company has a market cap of $1.04 billion, a price-to-earnings ratio of 45.00 and a beta of 1.23.

Modine Manufacturing (NYSE:MOD) last issued its quarterly earnings data on Tuesday, August 1st. The auto parts company reported $0.39 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.09. The firm had revenue of $515.50 million during the quarter, compared to the consensus estimate of $482.70 million. Modine Manufacturing had a net margin of 1.35% and a return on equity of 11.16%. The business’s revenue for the quarter was up 48.5% compared to the same quarter last year. During the same period last year, the business posted $0.23 earnings per share. Analysts predict that Modine Manufacturing Company will post $1.43 earnings per share for the current year.

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In other Modine Manufacturing news, insider Thomas Andrew Burke sold 84,980 shares of the firm’s stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $16.19, for a total transaction of $1,375,826.20. Following the completion of the sale, the insider now directly owns 454,673 shares in the company, valued at $7,361,155.87. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 4.42% of the company’s stock.

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.

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

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