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Comerica Bank owns $2.86 million in Modine Manufacturing stock (NYSE:MOD)

Comerica Bank owns $2.86 million in Modine Manufacturing stock (NYSE:MOD)

According to the most recent report that Comerica Bank submitted to the Securities and Exchange Commission (SEC), the amount of Modine Manufacturing (NYSE: MOD) stock that it held at the end of the third quarter was reduced by 8.3 percent. Following the transaction throughout the period, the institutional investor was left in possession of 184,331 shares of the company’s stock after having sold 16,622 of the company’s shares of stock. According to the most recent filing that Comerica Bank made with the SEC, the company owned approximately 0.35% of Modine Manufacturing, which at the time had a market value of $2,859,000.

Many other institutional investors and hedge funds have increased or decreased the size of their stakes in the company’s stock throughout the past few months. During the second quarter of the fiscal year, Teton Advisors Inc. increased the percentage of Modine Manufacturing stock owned by 0.9%. After purchasing an additional 3,000 of the company’s shares, Teton Advisors Inc. increased its ownership of the auto parts company’s stock to 355,000 shares, bringing the total value of its holdings to $3,738,000. During the second quarter, New York-based Paradigm Capital Management Inc. increased the proportion of the company’s stock owned by 28.2%. Following the acquisition of an additional 563,580 shares of the auto parts company’s stock during the period, Paradigm Capital Management Inc. now holds a total of 2,564,230 shares of the company’s stock, which carries a value of $27,001,000. During the second quarter, Monarch Partners Asset Management LLC achieved an increase in the proportion of Modine Manufacturing shares that it owns, which was equivalent to 166.6%. Following the acquisition of an additional 272,505 shares during the most recent period, Monarch Partners Asset Management LLC now owns a total of 436,120 shares of the auto parts company’s stock, which has a value of $4,592,000. This brings the total number of shares owned by the investment firm to 436,120. The amount of stock in Modine Manufacturing owned by Delphia USA Inc. increased by 72.4% during the second quarter. After purchasing an additional 10,269 shares during the relevant period, Delphia USA Inc. now has 24,462 shares of the auto parts company’s stock, which are currently valued at $258,000. These shares were acquired during the period in question. The most recent and significant investment update concerns Trexquant Investment LP’s 117.7% increase in its holdings of Modine Manufacturing during the second quarter. This was the final and most noteworthy investment update. Trexquant Investment LP has increased its holdings in the stock of the auto parts company by acquiring an additional 27,720 shares during the reporting period, bringing its total holdings to 51,262 shares of the company’s stock, which have a value of $540,000. This brings its total holdings to 51,262 shares of the company’s stock. Institutions hold, 90% of the time, the stock.

Michael B. Lucareli, who serves as the Chief Financial Officer of Modine Manufacturing, sold 60,000 shares of the company’s stock on November 7. The transaction took place in the course of his duties at Modine Manufacturing. The sale of the shares resulted in total revenue of $1,174,800.00, with the average price at which each share could be purchased being $19.58. Because of the sale, the chief financial officer now owns a total of 293,287 shares of the company. Based on the current market price, these shares are worth $5,742,559.46. You can find a copy of the filing that disclosed the transaction on the Securities and Exchange Commission (SEC) website. The filing described the transaction. The company’s insiders hold a stake equivalent to 3.06% of the total stock in the company.

Recently, the MOD stock has been the subject of commentary from several market analysts. The rating for Modine Manufacturing was raised by TheStreet from “c+” to “b-” in a study published on November 3, moving the company up one tier from its previous position. In a report on the stock published by on November 4, the investment recommendation for Modine Manufacturing was changed from a “strong-buy” rating to a “buy” rating. Previously, the recommendation had been a “buy.” The sixth day of December saw the publication of a research note by CJS Securities. On this note, they announced that they would now cover Modine Manufacturing. They recommended that investors “outperform” the stock.

NYSE: MOD started the trading day on Tuesday with a price of $23.21 per share. The quick ratio is 0.97, the current ratio is 1.58, and the debt-to-equity ratio is 0.74. All of these numbers are relative to the total amount of debt. All these figures should be interpreted in light of the overall sum owed. The low point for Modine Manufacturing over the past 52 weeks is $7.67, while the high point for the company over the past 52 weeks is $23.45. The price-to-earnings ratio for the company is 10.09, the price-to-growth ratio is 0.53, and the beta value for the company is 2.27. The company is currently valued at $1.21 billion on the market. The stock has been trading at $20.84 per share over the past 50 trading days, significantly higher than its moving average price of $16.71 over the past 200 trading days.

On November 2, the most recent quarterly earnings report made public for Modine Manufacturing, listed on the NYSE under the symbol “MOD,” was made available to the public. The company that produces vehicle components reported earnings per share for the quarter of $0.48, which was $0.11 more than the average estimate of $0.37 from analysts. The company’s primary market is the automotive industry. However, the actual sales for the company came in at $578.80 million, which was significantly higher than the analysts’ prediction of $545.10 million in revenue for the company. Modine Manufacturing had a return on equity of 19.79% while also having a net margin of 5.52% for the business. The analysts who follow the market speculate that Modine Manufacturing will generate $1.75 per share earnings this year.

The Modine Manufacturing Company designs and produces engineered heat transfer systems and parts for use in on- and off-highway original equipment manufacturer (OEM) vehicle applications. These systems and parts are used in both on- and off-road transportation. These parts and systems are designed to transmit heat efficiently to their destinations. Performance Technologies and Climate Solutions are the two primary foci of the company’s commercial activities. Unit heaters can be purchased with several different fuel types, including gas, hydronic, electric, and oil. In addition, there are indoor and outdoor duct furnaces, infrared units, perimeter heating products such as commercial fin-tube radiation, cabinet unit heaters and convectors, unit ventilators, single-packaged vertical units, precision air conditioning units for data center applications, fan walls, chillers, ceiling cassettes, and hybrid fans. All of these products can be found in the marketplace today.


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