Fintel reports that Gamco Investors, Inc. Et Al has filed a 13D/A form with the SEC disclosing ownership of 2.70MM shares of Modine Manufacturing Co. (MOD). This represents 5.17% of the company.
In their previous filing dated October 1, 2021 they reported 3.03MM shares and 5.86% of the company, a decrease in shares of 11.03% and a decrease in total ownership of 0.69% (calculated as current – previous percent ownership).
Analyst Price Forecast Suggests 5.02% Upside
As of July 6, 2023, the average one-year price target for Modine Manufacturing is 38.35. The forecasts range from a low of 31.31 to a high of $45.15. The average price target represents an increase of 5.02% from its latest reported closing price of 36.52.
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The projected annual revenue for Modine Manufacturing is 2,398MM, an increase of 6.38%. The projected annual non-GAAP EPS is 2.31.
What is the Fund Sentiment?
There are 481 funds or institutions reporting positions in Modine Manufacturing. This is an increase of 17 owner(s) or 3.66% in the last quarter. Average portfolio weight of all funds dedicated to MOD is 0.21%, a decrease of 6.22%. Total shares owned by institutions increased in the last three months by 1.42% to 58,320K shares. The put/call ratio of MOD is 0.14, indicating a bullish outlook.
What are Other Shareholders Doing?
Frontier Capital Management Co holds 3,597K shares representing 6.90% ownership of the company. In it’s prior filing, the firm reported owning 3,326K shares, representing an increase of 7.56%. The firm increased its portfolio allocation in MOD by 19.21% over the last quarter.
Principal Financial Group holds 2,607K shares representing 5.00% ownership of the company. In it’s prior filing, the firm reported owning 1,855K shares, representing an increase of 28.84%. The firm increased its portfolio allocation in MOD by 54.85% over the last quarter.
Paradigm Capital Management holds 2,368K shares representing 4.54% ownership of the company. In it’s prior filing, the firm reported owning 2,444K shares, representing a decrease of 3.19%. The firm decreased its portfolio allocation in MOD by 35.29% over the last quarter.
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 1,512K shares representing 2.90% ownership of the company. In it’s prior filing, the firm reported owning 1,484K shares, representing an increase of 1.89%. The firm increased its portfolio allocation in MOD by 9.23% over the last quarter.
Segall Bryant & Hamill holds 1,492K shares representing 2.86% ownership of the company. In it’s prior filing, the firm reported owning 1,917K shares, representing a decrease of 28.46%. The firm decreased its portfolio allocation in MOD by 12.70% over the last quarter.
Modine Manufacturing Background Information
(This description is provided by the company.)
Modine, with fiscal 2020 revenues of $2.0 billion, specializes in thermal management systems and components, bringing highly engineered heating and cooling components, original equipment products, and systems to diversified global markets through its four complementary segments: CIS; BHVAC; HDE; and Automotive. Modine is a global company headquartered in Racine, Wisconsin (USA), with operations in North America, South America, Europe and Asia.
This article originally appeared on Fintel
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