Deutsche Bank AG Increases Stake in Modine Manufacturing Company (NYSE:MOD)

Key Points

• Deutsche Bank AG has increased its stake in Modine Manufacturing Company by 12.4%, holding 101,850 shares worth approximately $7.82 million.
• Other institutional investors like Vanguard Group and Blair William & Co. IL have also raised their stakes, leading to a cumulative institutional ownership of 95.23% in the company.
• Modine Manufacturing reported $1.06 EPS for the last quarter, exceeding analysts' estimates, with a revenue increase of 3.2% year-over-year and a forecasted EPS of 3.88 for the current year.

Deutsche Bank AG boosted its stake in Modine Manufacturing Company (NYSE:MOD - Free Report) by 12.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 101,850 shares of the auto parts company's stock after purchasing an additional 11,218 shares during the quarter. Deutsche Bank AG owned approximately 0.19% of Modine Manufacturing worth $7,817,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Modine Manufacturing by 2.5% during the first quarter. Vanguard Group Inc. now owns 5,187,554 shares of the auto parts company's stock worth $398,145,000 after purchasing an additional 128,587 shares in the last quarter. Blair William & Co. IL grew its holdings in shares of Modine Manufacturing by 114.5% during the first quarter. Blair William & Co. IL now owns 63,993 shares of the auto parts company's stock worth $4,911,000 after purchasing an additional 34,154 shares in the last quarter. Castellan Group grew its holdings in shares of Modine Manufacturing by 74.6% during the first quarter. Castellan Group now owns 91,214 shares of the auto parts company's stock worth $7,001,000 after purchasing an additional 38,984 shares in the last quarter. Natixis Advisors LLC grew its holdings in shares of Modine Manufacturing by 6.8% during the first quarter. Natixis Advisors LLC now owns 17,311 shares of the auto parts company's stock worth $1,329,000 after purchasing an additional 1,107 shares in the last quarter. Finally, Mesirow Financial Investment Management Inc. grew its holdings in shares of Modine Manufacturing by 6.2% during the first quarter. Mesirow Financial Investment Management Inc. now owns 3,122 shares of the auto parts company's stock worth $241,000 after purchasing an additional 182 shares in the last quarter. Institutional investors own 95.23% of the company's stock.

Modine Manufacturing Price Performance

Shares of Modine Manufacturing stock opened at $138.84 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.06 and a quick ratio of 1.28. The business's 50 day simple moving average is $107.62 and its two-hundred day simple moving average is $94.35. The stock has a market capitalization of $7.29 billion, a P/E ratio of 39.78, a price-to-earnings-growth ratio of 0.89 and a beta of 2.12. Modine Manufacturing Company has a one year low of $64.79 and a one year high of $146.84.

Modine Manufacturing (NYSE:MOD - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The auto parts company reported $1.06 EPS for the quarter, topping analysts' consensus estimates of $0.93 by $0.13. The business had revenue of $682.80 million for the quarter, compared to analysts' expectations of $653.80 million. Modine Manufacturing had a return on equity of 23.90% and a net margin of 7.21%. The business's quarterly revenue was up 3.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.04 EPS. Analysts forecast that Modine Manufacturing Company will post 3.88 EPS for the current year.

Insider Activity

In other news, VP Brian Jon Agen sold 47,939 shares of the business's stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $110.50, for a total transaction of $5,297,259.50. Following the transaction, the vice president directly owned 90,015 shares of the company's stock, valued at approximately $9,946,657.50. The trade was a 34.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Michael B. Lucareli sold 80,661 shares of the business's stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $128.33, for a total value of $10,351,226.13. Following the transaction, the executive vice president directly owned 66,920 shares in the company, valued at $8,587,843.60. This trade represents a 54.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 200,561 shares of company stock valued at $25,462,844. Company insiders own 2.48% of the company's stock.

Wall Street Analysts Forecast Growth

MOD has been the subject of several recent analyst reports. KeyCorp boosted their price objective on Modine Manufacturing from $125.00 to $150.00 and gave the stock an "overweight" rating in a report on Thursday, July 31st. Oppenheimer boosted their target price on Modine Manufacturing from $121.00 to $122.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 1st. Finally, Wall Street Zen downgraded Modine Manufacturing from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd.

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.

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