Gabelli Funds LLC Sells 38,800 Shares of Modine Manufacturing Company $MOD

Gabelli Funds LLC trimmed its holdings in Modine Manufacturing Company (NYSE:MOD) by 11.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 292,700 shares of the auto parts company’s stock after selling 38,800 shares during the quarter. Gabelli Funds LLC’s holdings in Modine Manufacturing were worth $39,078,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in MOD. Spire Wealth Management bought a new position in Modine Manufacturing in the 4th quarter worth approximately $27,000. First Horizon Corp bought a new position in Modine Manufacturing in the 3rd quarter worth approximately $38,000. Sunbelt Securities Inc. bought a new position in Modine Manufacturing in the 3rd quarter worth approximately $39,000. Danske Bank A S bought a new position in Modine Manufacturing in the 3rd quarter worth approximately $43,000. Finally, AdvisorShares Investments LLC boosted its stake in Modine Manufacturing by 154.0% in the 3rd quarter. AdvisorShares Investments LLC now owns 475 shares of the auto parts company’s stock worth $68,000 after purchasing an additional 288 shares during the period. 95.23% of the stock is currently owned by institutional investors.

Modine Manufacturing Trading Up 0.2%

MOD stock opened at $271.88 on Monday. The firm has a fifty day moving average price of $232.82 and a 200 day moving average price of $187.57. Modine Manufacturing Company has a fifty-two week low of $86.48 and a fifty-two week high of $294.05. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.28 and a current ratio of 2.19. The firm has a market cap of $14.34 billion, a PE ratio of 151.04, a price-to-earnings-growth ratio of 1.10 and a beta of 1.66.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Weiss Ratings restated a “hold (c-)” rating on shares of Modine Manufacturing in a research note on Wednesday, May 6th. Glj Research assumed coverage on Modine Manufacturing in a research report on Monday, March 30th. They set a “buy” rating and a $290.00 target price for the company. DA Davidson reissued a “buy” rating and issued a $265.00 target price on shares of Modine Manufacturing in a report on Tuesday, March 31st. Wall Street Zen lowered shares of Modine Manufacturing from a “buy” rating to a “hold” rating in a report on Sunday, February 22nd. Finally, Zacks Research lowered shares of Modine Manufacturing from a “strong-buy” rating to a “hold” rating in a report on Monday, April 13th. Six research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $234.33.

Modine Manufacturing Profile

Modine Manufacturing Company (NYSE:MOD) is a global provider of thermal management solutions serving automotive, commercial transportation, heavy-duty off-highway, industrial, HVAC and refrigeration markets. The company designs, manufactures, tests and markets a broad array of heat-transfer products that manage temperature and energy efficiency for engines, power electronics and building climate control systems.

Its product portfolio includes heat exchangers, condensers, radiators, evaporators, charge air coolers, fan systems and associated controls.