KBC Group NV Increases Stake in Modine Manufacturing (NYSE:MOD)

KBC Group NV boosted its stake in Modine Manufacturing (NYSE:MOD) by 42.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,078 shares of the auto parts company’s stock after buying an additional 622 shares during the period. KBC Group NV’s holdings in Modine Manufacturing were worth $241,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of MOD. Marshall Wace LLP bought a new position in shares of Modine Manufacturing in the 2nd quarter worth about $411,000. Millennium Management LLC purchased a new stake in Modine Manufacturing in the second quarter worth about $7,391,000. The Manufacturers Life Insurance Company increased its stake in shares of Modine Manufacturing by 3.5% during the second quarter. The Manufacturers Life Insurance Company now owns 31,143 shares of the auto parts company’s stock valued at $3,120,000 after purchasing an additional 1,063 shares in the last quarter. Creative Planning lifted its holdings in shares of Modine Manufacturing by 93.8% during the second quarter. Creative Planning now owns 9,696 shares of the auto parts company’s stock valued at $971,000 after purchasing an additional 4,692 shares during the last quarter. Finally, Truist Financial Corp boosted its position in shares of Modine Manufacturing by 12.0% in the 2nd quarter. Truist Financial Corp now owns 34,457 shares of the auto parts company’s stock worth $3,452,000 after purchasing an additional 3,683 shares in the last quarter. 95.23% of the stock is owned by institutional investors.

Modine Manufacturing Stock Up 2.0 %

Shares of MOD stock opened at $98.40 on Wednesday. The company has a market capitalization of $5.17 billion, a price-to-earnings ratio of 32.26, a PEG ratio of 0.78 and a beta of 2.31. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.77 and a quick ratio of 1.09. The company’s fifty day moving average price is $124.24 and its 200-day moving average price is $120.86. Modine Manufacturing has a one year low of $67.77 and a one year high of $146.84.

Modine Manufacturing (NYSE:MOD) last announced its quarterly earnings results on Tuesday, February 4th. The auto parts company reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.79 by $0.13. Modine Manufacturing had a net margin of 6.59% and a return on equity of 23.96%. Sell-side analysts expect that Modine Manufacturing will post 3.83 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Oppenheimer upped their price target on shares of Modine Manufacturing from $144.00 to $145.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st.

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.