16,404 Modine Manufacturing Company $MOD Shares Sold by Moody National Bank Trust Division

Key Points

• Moody National Bank Trust Division cut its Modine Manufacturing stake by 74.2%, selling 16,404 shares in the third quarter and retaining 5,697 shares valued at approximately $1.07 million.
• Institutional ownership remains high at 95.23%, with several major investors—including BlackRock and Paradigm Capital Management—building new or larger positions.
• Modine reported quarterly earnings of $1.53 per share, beating estimates by $0.26, while revenue rose 28% year over year. Analysts maintain a “Moderate Buy” consensus with an average price target of $309.50.

Moody National Bank Trust Division decreased its holdings in shares of Modine Manufacturing Company (NYSE:MOD - Free Report) by 74.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,697 shares of the auto parts company's stock after selling 16,404 shares during the quarter. Moody National Bank Trust Division's holdings in Modine Manufacturing were worth $1,066,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. BlackRock Inc. bought a new position in Modine Manufacturing in the 2nd quarter valued at approximately $765,540,000. Capital Research Global Investors grew its position in Modine Manufacturing by 13.8% during the 4th quarter. Capital Research Global Investors now owns 1,478,224 shares of the auto parts company's stock worth $197,358,000 after acquiring an additional 179,617 shares during the last quarter. Paradigm Capital Management Inc. NY acquired a new position in Modine Manufacturing in the 2nd quarter worth about $388,140,000. Janus Henderson Group PLC raised its position in Modine Manufacturing by 2,249.9% in the first quarter. Janus Henderson Group PLC now owns 523,507 shares of the auto parts company's stock valued at $113,459,000 after purchasing an additional 501,229 shares during the last quarter. Finally, Jupiter Topco LLC acquired a new stake in shares of Modine Manufacturing during the second quarter valued at about $123,873,000. 95.23% of the stock is owned by institutional investors.

Modine Manufacturing Trading Up 3.4%

Shares of Modine Manufacturing stock opened at $189.16 on Wednesday. The stock has a market capitalization of $10.05 billion, a PE ratio of 71.11, a price-to-earnings-growth ratio of 0.60 and a beta of 1.71. Modine Manufacturing Company has a 52 week low of $111.18 and a 52 week high of $323.25. The stock has a 50 day moving average price of $190.68 and a two-hundred day moving average price of $230.62. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.22 and a current ratio of 2.04.

Modine Manufacturing (NYSE:MOD - Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The auto parts company reported $1.53 earnings per share for the quarter, topping the consensus estimate of $1.27 by $0.26. The firm had revenue of $874.10 million for the quarter, compared to the consensus estimate of $878.69 million. Modine Manufacturing had a net margin of 4.28% and a return on equity of 25.59%. The business's revenue was up 28.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.95 earnings per share. As a group, equities analysts anticipate that Modine Manufacturing Company will post 7.68 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on MOD. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Modine Manufacturing in a research note on Tuesday, August 25th. DA Davidson reissued a "buy" rating and issued a $330.00 price objective on shares of Modine Manufacturing in a research note on Tuesday, September 29th. KeyCorp restated an "overweight" rating and issued a $280.00 price objective on shares of Modine Manufacturing in a report on Wednesday, September 2nd. Robert W. Baird assumed coverage on Modine Manufacturing in a research report on Tuesday. They issued an "outperform" rating and a $300.00 price target on the stock. Finally, Wall Street Zen cut Modine Manufacturing from a "buy" rating to a "hold" rating in a report on Saturday, July 25th. Eight investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, Modine Manufacturing presently has an average rating of "Moderate Buy" and an average price target of $309.50.

Modine Manufacturing Profile

Modine Manufacturing Company NYSE: MOD is a diversified thermal management company that develops and manufactures technologies for controlling and transferring heat. Founded in 1916 and headquartered in Racine, Wisconsin, Modine serves customers in the automotive, commercial and industrial, data center, HVAC, refrigeration, and other specialized markets.

The company's products and systems include heat exchangers, cooling modules, coils, radiators, condensers, fans, thermal management systems, and related components.

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