Deutsche Bank AG purchased a new position in shares of Modine Manufacturing Company (NYSE:MOD - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 32,519 shares of the auto parts company's stock, valued at approximately $8,683,000. Deutsche Bank AG owned 0.06% of Modine Manufacturing at the end of the most recent quarter.
Other hedge funds also recently added to or reduced their stakes in the company. Lazard Asset Management LLC purchased a new position in Modine Manufacturing during the 1st quarter valued at $1,722,000. Ranger Investment Management L.P. purchased a new stake in Modine Manufacturing in the first quarter worth $15,557,000. Allspring Global Investments Holdings LLC lifted its position in shares of Modine Manufacturing by 253.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 306,005 shares of the auto parts company's stock worth $68,230,000 after purchasing an additional 219,373 shares during the last quarter. DUTCH ASSET Corp lifted its position in shares of Modine Manufacturing by 122.2% during the first quarter. DUTCH ASSET Corp now owns 18,709 shares of the auto parts company's stock worth $4,055,000 after purchasing an additional 10,290 shares during the last quarter. Finally, Van Berkom & Associates Inc. boosted its stake in shares of Modine Manufacturing by 3,145.2% during the fourth quarter. Van Berkom & Associates Inc. now owns 436,084 shares of the auto parts company's stock valued at $58,222,000 after purchasing an additional 422,646 shares during the period. 95.23% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of research firms have recently commented on MOD. UBS Group upped their price target on shares of Modine Manufacturing to $310.00 and gave the stock a "buy" rating in a report on Wednesday, May 27th. DA Davidson reissued a "buy" rating and issued a $330.00 price objective on shares of Modine Manufacturing in a research report on Monday, June 22nd. Glj Research restated a "buy" rating and issued a $428.00 target price on shares of Modine Manufacturing in a research note on Monday, June 1st. Weiss Ratings upgraded shares of Modine Manufacturing from a "hold (c-)" rating to a "hold (c)" rating in a research note on Thursday, May 28th. Finally, B. Riley Financial reaffirmed a "buy" rating and set a $305.00 target price (down from $340.00) on shares of Modine Manufacturing in a research report on Thursday, July 30th. Seven investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $320.14.
Check Out Our Latest Research Report on MOD
Insider Buying and Selling at Modine Manufacturing
In other Modine Manufacturing news, Director Eric D. Ashleman sold 15,000 shares of the firm's stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $288.54, for a total transaction of $4,328,100.00. Following the transaction, the director owned 42,350 shares of the company's stock, valued at approximately $12,219,669. This trade represents a 26.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Eric S. Mcginnis sold 1,020 shares of the business's stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $295.06, for a total transaction of $300,961.20. Following the completion of the sale, the insider owned 28,364 shares of the company's stock, valued at approximately $8,369,081.84. This represents a 3.47% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 54,302 shares of company stock valued at $15,928,759. Company insiders own 1.92% of the company's stock.
Modine Manufacturing Price Performance
MOD opened at $198.03 on Monday. Modine Manufacturing Company has a 12-month low of $111.18 and a 12-month high of $323.25. The company has a current ratio of 2.04, a quick ratio of 1.22 and a debt-to-equity ratio of 0.39. The business's fifty day simple moving average is $232.44 and its 200-day simple moving average is $236.31. The company has a market capitalization of $10.52 billion, a price-to-earnings ratio of 74.45, a PEG ratio of 0.65 and a beta of 1.71.
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, beating the consensus estimate of $1.27 by $0.26. Modine Manufacturing had a return on equity of 25.59% and a net margin of 4.28%.The firm had revenue of $874.10 million during the quarter, compared to the consensus estimate of $878.69 million. During the same period in the previous year, the company posted $0.95 earnings per share. The firm's quarterly revenue was up 28.0% on a year-over-year basis. On average, equities research analysts anticipate that Modine Manufacturing Company will post 7.65 earnings per share for the current fiscal year.
About Modine Manufacturing
(
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.
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