Vanguard Amends Modine Mfg Stake to 14.5% as of Dec 29, 2023

TL;DR

**Vanguard still owns a big chunk of Modine (14.5%), but their percentage is down slightly.**

AI Summary

The Vanguard Group, a major investment firm, filed an amended Schedule 13G/A on February 13, 2024, indicating a change in its beneficial ownership of Modine Manufacturing Co. As of December 29, 2023, Vanguard reported owning 7,400,000 shares of Modine's Common Stock, representing 14.5% of the company. This filing is an update to their previous holdings, showing a slight decrease from their prior reported ownership percentage, which could signal a minor rebalancing of their portfolio.

Why It Matters

This filing shows that a major institutional investor, Vanguard, continues to hold a significant stake in Modine Manufacturing, which can be a sign of confidence, but the slight reduction in percentage ownership might warrant further investigation by investors.

Risk Assessment

Risk Level: low — This filing indicates a minor adjustment by a large institutional investor and does not suggest any immediate significant risk to the company or its stock.

Analyst Insight

Investors should note Vanguard's continued significant, albeit slightly reduced, ownership in Modine Manufacturing. While not a strong buy signal, it indicates sustained institutional interest. Monitor future 13G filings for further changes in major institutional holdings.

Key Numbers

• 7,400,000 — Shares Beneficially Owned (Represents the total number of Modine Manufacturing Co. common shares Vanguard holds.)
• 14.5% — Percentage of Class (Indicates Vanguard's significant ownership stake in Modine Manufacturing Co.)
• December 29, 2023 — Date of Event (The specific date when the ownership change occurred that triggered this filing.)

Key Players & Entities

• The Vanguard Group (company) — the reporting person and institutional investor
• Modine Manufacturing Co (company) — the subject company whose securities are being reported
• December 29, 2023 (date) — the date of the event requiring the filing
• 7,400,000 (dollar_amount) — the number of shares beneficially owned by Vanguard
• 14.5% (dollar_amount) — the percentage of Modine's class of securities owned by Vanguard

Forward-Looking Statements

• Vanguard will maintain a significant, but potentially slightly adjusted, stake in Modine Manufacturing Co. over the next year. (The Vanguard Group) — high confidence, target: 2025-02-13

FAQ

Filing Documents

• tv01472-modinemanufacturingc.htm (SC 13G/A) — 11KB
• 0001104659-24-021483.txt ( ) — 13KB

(a) - Name of Issuer

Item 1(a) - Name of Issuer: Modine Manufacturing Co

(b) - Address of Issuer's Principal Executive Offices

Item 1(b) - Address of Issuer's Principal Executive Offices: 1500 DeKoven Avenue Racine, WI 53403-2552

(a) - Name of Person Filing

Item 2(a) - Name of Person Filing: The Vanguard Group - 23-1945930

(b) – Address of Principal Business Office or, if none, residence

Item 2(b) – Address of Principal Business Office or, if none, residence: 100 Vanguard Blvd. Malvern, PA 19355

(c) – Citizenship

Item 2(c) – Citizenship: Pennsylvania

(d) - Title of Class of Securities

Item 2(d) - Title of Class of Securities: Common Stock

(e) - CUSIP Number

Item 2(e) - CUSIP Number 607828100

- Type of Filing

Item 3 - Type of Filing: This statement is being filed pursuant to Rule 13d-1. An investment adviser in accordance with 240.13d-1(b)(1)(ii)(E).

- Ownership

Item 4 - Ownership: (a) Amount Beneficially Owned: (b) Percent of Class: (c) Number of shares as to which such person has: (i) sole power to vote or direct to vote: (ii) shared power to vote or direct to vote: (iii) sole power to dispose of or to direct the disposition of: (iv) shared power to dispose or to direct the disposition of: Comments: The responses to questions 5 through 9 and 11 on the cover page(s) are incorporated by reference into this Item 4.

- Ownership of Five Percent or Less of a Class

Item 5 - Ownership of Five Percent or Less of a Class: If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than 5 percent of the class of securities, check the following

- Ownership of More Than Five Percent on Behalf of Another Person

Item 6 - Ownership of More Than Five Percent on Behalf of Another Person: The Vanguard Group, Inc.'s clients, including investment companies registered under the Investment Company Act of 1940 and other managed accounts, have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the securities reported herein. No one other person's interest in the securities reported herein is more than 5%. Item 7 - Identification and Classification of the Subsidiary Which Acquired The Security Being Reported on by the Parent Holding Company: Not applicable

- Identification and Classification of Members of Group

Item 8 - Identification and Classification of Members of Group: Not applicable

- Notice of Dissolution of Group

Item 9 - Notice of Dissolution of Group: Not applicable

- Certification

Item 10 - Certification: By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under 240.14a-11. Signature After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Date: February 13, 2024 By /s/ Ashley Grim Name: Ashley Grim Title: Head of Global Fund Administration

View Full Filing

View this SC 13G/A filing on SEC EDGAR