Comerica Bank Has $3.95 Million Stake in Modine Manufacturing Company $MOD

Key Points

• Comerica Bank trimmed its stake in Modine by 29.2% in Q4, selling 12,210 shares and now holding 29,595 shares worth $3.95 million (about 0.06% of the company), while institutional investors own roughly 95.23% of the stock.
• Modine beat expectations in its most recent quarter with EPS of $1.19 versus $0.99 expected and revenue of $805 million, a 30.5% year‑over‑year increase.
• The stock is trading near its 12‑month high (opened $266.28, high $268.51), has a high valuation (P/E 147.93), and carries a consensus rating of Moderate Buy with an average price target of $234.33.

Comerica Bank trimmed its holdings in shares of Modine Manufacturing Company (NYSE:MOD - Free Report) by 29.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,595 shares of the auto parts company's stock after selling 12,210 shares during the period. Comerica Bank owned 0.06% of Modine Manufacturing worth $3,951,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Spire Wealth Management acquired a new stake in Modine Manufacturing during the 4th quarter valued at $27,000. First Horizon Corp acquired a new stake in Modine Manufacturing during the 3rd quarter valued at $38,000. Sunbelt Securities Inc. acquired a new stake in Modine Manufacturing during the 3rd quarter valued at $39,000. Danske Bank A S acquired a new stake in Modine Manufacturing during the 3rd quarter valued at $43,000. Finally, AdvisorShares Investments LLC increased its holdings in Modine Manufacturing by 154.0% during the 3rd quarter. AdvisorShares Investments LLC now owns 475 shares of the auto parts company's stock valued at $68,000 after purchasing an additional 288 shares in the last quarter. 95.23% of the stock is owned by institutional investors and hedge funds.

Modine Manufacturing Price Performance

Modine Manufacturing stock opened at $266.28 on Friday. The business's 50-day simple moving average is $223.54 and its 200 day simple moving average is $179.79. The stock has a market cap of $14.04 billion, a price-to-earnings ratio of 147.93, a P/E/G ratio of 1.09 and a beta of 1.66. Modine Manufacturing Company has a 12-month low of $86.48 and a 12-month high of $268.51. The company has a quick ratio of 1.28, a current ratio of 2.19 and a debt-to-equity ratio of 0.51.

Modine Manufacturing (NYSE:MOD - Get Free Report) last posted its quarterly earnings results on Wednesday, February 4th. The auto parts company reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.20. The business had revenue of $805.00 million for the quarter, compared to analysts' expectations of $763.54 million. Modine Manufacturing had a return on equity of 22.99% and a net margin of 3.40%.The firm's quarterly revenue was up 30.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.92 earnings per share. As a group, research analysts anticipate that Modine Manufacturing Company will post 4.82 earnings per share for the current year.

Insider Transactions at Modine Manufacturing

In related news, Director Suresh V. Garimella sold 1,100 shares of the firm's stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $184.07, for a total value of $202,477.00. Following the transaction, the director owned 79,856 shares in the company, valued at $14,699,093.92. This trade represents a 1.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.48% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

MOD has been the subject of a number of recent analyst reports. Roth Mkm initiated coverage on Modine Manufacturing in a report on Wednesday, February 18th. They set a "buy" rating and a $263.00 price target for the company. Glj Research initiated coverage on Modine Manufacturing in a report on Monday, March 30th. They set a "buy" rating and a $290.00 price target for the company. Oppenheimer raised their price target on Modine Manufacturing from $220.00 to $240.00 and gave the company an "outperform" rating in a report on Friday, February 6th. Wall Street Zen cut Modine Manufacturing from a "buy" rating to a "hold" rating in a research note on Sunday, February 22nd. Finally, Zacks Research downgraded Modine Manufacturing from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 13th. Six investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, Modine Manufacturing has an average rating of "Moderate Buy" and a consensus price target of $234.33.

Modine Manufacturing Company 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.

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