9,817 Shares in Modine Manufacturing Company $MOD Purchased by Ameritas Advisory Services LLC

Key Points

• Ameritas Advisory Services purchased 9,817 Modine Manufacturing shares worth approximately $2.62 million in the second quarter. Institutional investors collectively own 95.23% of the company.
• Analysts maintain a favorable outlook, with seven Buy ratings and two Hold ratings, producing a “Moderate Buy” consensus and an average price target of $320.14.
• Modine reported quarterly EPS of $1.53, beating estimates of $1.27, while revenue rose 28% year over year to $874.1 million. However, insiders sold 54,302 shares worth nearly $15.93 million during the quarter.

Ameritas Advisory Services LLC purchased a new stake in shares of Modine Manufacturing Company (NYSE:MOD - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 9,817 shares of the auto parts company's stock, valued at approximately $2,621,000.

A number of other hedge funds have also recently bought and sold shares of the stock. V Square Quantitative Management LLC bought a new stake in Modine Manufacturing in the first quarter valued at approximately $25,000. Kemnay Advisory Services Inc. bought a new position in shares of Modine Manufacturing during the 4th quarter worth approximately $25,000. Sunbelt Securities Inc. acquired a new position in shares of Modine Manufacturing during the 3rd quarter worth approximately $39,000. Rakuten Securities Inc. acquired a new position in shares of Modine Manufacturing during the 2nd quarter worth approximately $40,000. Finally, PenderFund Capital Management Ltd. acquired a new stake in Modine Manufacturing during the 2nd quarter valued at $42,000. 95.23% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have commented on MOD. DA Davidson reaffirmed a "buy" rating and set a $330.00 price objective on shares of Modine Manufacturing in a research report on Monday, June 22nd. Glj Research reissued a "buy" rating and issued a $428.00 price objective on shares of Modine Manufacturing in a research report on Monday, June 1st. KeyCorp restated an "overweight" rating and set a $280.00 target price on shares of Modine Manufacturing in a research note on Wednesday, September 2nd. Oppenheimer lifted their target price on shares of Modine Manufacturing from $271.00 to $325.00 and gave the stock an "outperform" rating in a report on Thursday, May 28th. Finally, UBS Group upped their price target on shares of Modine Manufacturing to $310.00 and gave the company a "buy" rating in a research note on Wednesday, May 27th. Seven investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $320.14.

Insider Buying and Selling

In related news, VP Brian Agen sold 38,282 shares of the company's stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $295.17, for a total transaction of $11,299,697.94. Following the completion of the sale, the vice president owned 66,343 shares of the company's stock, valued at $19,582,463.31. This represents a 36.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Eric Ashleman sold 15,000 shares of the stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $288.54, for a total transaction of $4,328,100.00. Following the sale, the director owned 42,350 shares in the company, valued at $12,219,669. The trade was a 26.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 54,302 shares of company stock valued at $15,928,759 over the last quarter. 1.92% of the stock is owned by company insiders.

Modine Manufacturing Stock Performance

NYSE MOD opened at $192.54 on Wednesday. The company has a quick ratio of 1.22, a current ratio of 2.04 and a debt-to-equity ratio of 0.39. The company has a market capitalization of $10.23 billion, a P/E ratio of 72.38, a P/E/G ratio of 0.64 and a beta of 1.74. Modine Manufacturing Company has a 12-month low of $111.18 and a 12-month high of $323.25. The firm has a 50-day moving average price of $209.98 and a two-hundred day moving average price of $234.02.

Modine Manufacturing (NYSE:MOD - Get Free Report) last announced its earnings results on Wednesday, July 29th. The auto parts company reported $1.53 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.27 by $0.26. Modine Manufacturing had a net margin of 4.28% and a return on equity of 25.59%. The firm had revenue of $874.10 million for the quarter, compared to analyst estimates of $878.69 million. During the same quarter in the prior year, the business posted $0.95 EPS. The business's revenue was up 28.0% compared to the same quarter last year. Analysts anticipate that Modine Manufacturing Company will post 7.65 earnings per share for the current year.

Modine Manufacturing Profile

Modine Manufacturing Company NYSE: MOD is a global provider of thermal management solutions serving automotive, commercial transportation, heavy-duty off-highway, industrial, HVAC and refrigeration markets. The company designs, manufactures, tests and markets a broad array of heat-transfer products that manage temperature and energy efficiency for engines, power electronics and building climate control systems.

Its product portfolio includes heat exchangers, condensers, radiators, evaporators, charge air coolers, fan systems and associated controls.

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