Deutsche Bank AG Increases Stake in Modine Manufacturing Co. (MOD)

Deutsche Bank AG grew its position in Modine Manufacturing Co. (NYSE:MOD) by 4.1% during the fourth quarter, HoldingsChannel.com reports. The firm owned 111,285 shares of the auto parts company’s stock after acquiring an additional 4,394 shares during the period. Deutsche Bank AG’s holdings in Modine Manufacturing were worth $1,201,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently made changes to their positions in the company. Renaissance Technologies LLC raised its position in shares of Modine Manufacturing by 448.6% in the third quarter. Renaissance Technologies LLC now owns 301,780 shares of the auto parts company’s stock valued at $4,497,000 after purchasing an additional 246,771 shares during the period. MetLife Investment Advisors LLC raised its position in shares of Modine Manufacturing by 55.5% in the third quarter. MetLife Investment Advisors LLC now owns 36,064 shares of the auto parts company’s stock valued at $537,000 after purchasing an additional 12,877 shares during the period. Teachers Advisors LLC raised its position in shares of Modine Manufacturing by 3.9% in the third quarter. Teachers Advisors LLC now owns 123,171 shares of the auto parts company’s stock valued at $1,835,000 after purchasing an additional 4,591 shares during the period. Morgan Stanley raised its position in shares of Modine Manufacturing by 23.7% in the third quarter. Morgan Stanley now owns 250,885 shares of the auto parts company’s stock valued at $3,739,000 after purchasing an additional 48,125 shares during the period. Finally, Vanguard Group Inc. raised its position in shares of Modine Manufacturing by 2.4% in the third quarter. Vanguard Group Inc. now owns 4,328,334 shares of the auto parts company’s stock valued at $64,492,000 after purchasing an additional 103,083 shares during the period. 89.63% of the stock is currently owned by institutional investors and hedge funds.

In related news, Director Larry Oscar Moore sold 6,600 shares of the firm’s stock in a transaction dated Tuesday, February 12th. The shares were sold at an average price of $15.10, for a total transaction of $99,660.00. Following the transaction, the director now directly owns 40,761 shares of the company’s stock, valued at $615,491.10. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Dennis P. Appel purchased 3,180 shares of the stock in a transaction that occurred on Friday, March 22nd. The shares were acquired at an average cost of $13.99 per share, for a total transaction of $44,488.20. Following the completion of the transaction, the vice president now owns 33,543 shares of the company’s stock, valued at approximately $469,266.57. The disclosure for this purchase can be found here. 4.48% of the stock is currently owned by company insiders.

Several brokerages have recently weighed in on MOD. ValuEngine lowered shares of Modine Manufacturing from a “sell” rating to a “strong sell” rating in a research report on Friday. Zacks Investment Research lowered shares of Modine Manufacturing from a “buy” rating to a “hold” rating in a research report on Wednesday, February 6th.

NYSE:MOD opened at $13.32 on Friday. Modine Manufacturing Co. has a 52 week low of $9.75 and a 52 week high of $20.30. The stock has a market cap of $717.91 million, a P/E ratio of 8.65 and a beta of 1.97. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.85 and a current ratio of 1.30.

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Modine Manufacturing Company Profile

Modine Manufacturing Company provides engineered heat transfer systems and heat transfer components for use in on- and off-highway original equipment manufacturer (OEM) vehicular applications primarily in the United States. The company operates through Americas, Europe, Asia, Commercial and Industrial Solutions, and Building HVAC segments.

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

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