B. Metzler seel. Sohn & Co. AG purchased a new stake in Modine Manufacturing Company (NYSE:MOD - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 61,386 shares of the auto parts company's stock, valued at approximately $16,391,000. B. Metzler seel. Sohn & Co. AG owned about 0.12% of Modine Manufacturing as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors have also recently added to or reduced their stakes in MOD. Two Sigma Securities LLC acquired a new stake in shares of Modine Manufacturing in the 2nd quarter worth $255,000. Flputnam Investment Management Co. acquired a new stake in Modine Manufacturing during the second quarter worth about $3,507,000. Rational Advisors Inc. acquired a new stake in Modine Manufacturing during the second quarter worth about $799,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Modine Manufacturing by 59.5% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 193,619 shares of the auto parts company's stock worth $51,700,000 after purchasing an additional 72,253 shares during the period. Finally, Hsbc Holdings PLC raised its stake in Modine Manufacturing by 100.9% during the second quarter. Hsbc Holdings PLC now owns 6,102 shares of the auto parts company's stock worth $1,622,000 after purchasing an additional 3,065 shares during the period. Hedge funds and other institutional investors own 95.23% of the company's stock.
Insider Buying and Selling
In other Modine Manufacturing news, VP Brian Jon Agen sold 38,282 shares of Modine Manufacturing stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $295.17, for a total value of $11,299,697.94. Following the completion of the transaction, the vice president directly owned 66,343 shares of the company's stock, valued at $19,582,463.31. The trade was a 36.59% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Eric S. Mcginnis sold 1,020 shares of the business's stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $295.06, for a total transaction of $300,961.20. Following the sale, the insider owned 28,364 shares in the company, valued at $8,369,081.84. This trade represents a 3.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 54,302 shares of company stock valued at $15,928,759. Corporate insiders own 1.92% of the company's stock.
Wall Street Analysts Forecast Growth
MOD has been the subject of several analyst reports. Oppenheimer increased their price target on shares of Modine Manufacturing from $271.00 to $325.00 and gave the company an "outperform" rating in a research note on Thursday, May 28th. KeyCorp reaffirmed an "overweight" rating and set a $280.00 price target on shares of Modine Manufacturing in a research report on Wednesday. UBS Group upped their price objective on Modine Manufacturing to $310.00 and gave the company a "buy" rating in a report on Wednesday, May 27th. DA Davidson reiterated a "buy" rating and issued a $330.00 price objective on shares of Modine Manufacturing in a research report on Monday, June 22nd. Finally, Glj Research reissued a "buy" rating and set a $428.00 target price on shares of Modine Manufacturing in a research note on Monday, June 1st. Seven research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Modine Manufacturing currently has an average rating of "Moderate Buy" and a consensus price target of $320.14.
View Our Latest Report on MOD
Modine Manufacturing Price Performance
Modine Manufacturing stock opened at $179.29 on Thursday. The company's 50 day simple moving average is $215.88 and its 200-day simple moving average is $234.72. 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 Company has a 1 year low of $111.18 and a 1 year high of $323.25. The company has a market capitalization of $9.52 billion, a price-to-earnings ratio of 67.40, a price-to-earnings-growth ratio of 0.59 and a beta of 1.74.
Modine Manufacturing (NYSE:MOD - Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The auto parts company reported $1.53 earnings per share 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 during the quarter, compared to analysts' expectations of $878.69 million. During the same quarter last year, the company posted $0.95 EPS. The firm's quarterly revenue was up 28.0% on a year-over-year basis. As a group, equities research analysts expect that Modine Manufacturing Company will post 7.65 earnings per share for the current year.
Modine Manufacturing Profile
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Free Report)
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.
See Also
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