Edmond DE Rothschild Holding S.A. Buys Shares of 12,171 Modine Manufacturing Company $MOD

Key Points

• Edmond DE Rothschild Holding purchased 12,171 Modine Manufacturing shares worth approximately $3.25 million during the second quarter. Institutional investors collectively own 95.23% of the company.
• Modine reported quarterly earnings of $1.53 per share, beating estimates of $1.27, while revenue rose 28% year over year to $874.1 million. Analysts expect full-year earnings of $7.65 per share.
• MOD shares opened at $190.15, well below their 52-week high of $323.25. Despite recent insider selling and mixed rating changes, analysts maintain a “Moderate Buy” consensus with an average price target of $320.14.

Edmond DE Rothschild Holding S.A. purchased a new position in shares of Modine Manufacturing Company (NYSE:MOD - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 12,171 shares of the auto parts company's stock, valued at approximately $3,250,000.

Other institutional investors have also modified their holdings of the company. BlackRock Inc. acquired a new stake in Modine Manufacturing during the second quarter worth approximately $765,540,000. Invesco Ltd. raised its holdings in Modine Manufacturing by 120.4% in the 4th quarter. Invesco Ltd. now owns 1,318,529 shares of the auto parts company's stock valued at $176,037,000 after acquiring an additional 720,389 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Modine Manufacturing by 31.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,333,174 shares of the auto parts company's stock valued at $311,503,000 after acquiring an additional 560,131 shares during the last quarter. WT Asset Management Ltd purchased a new stake in shares of Modine Manufacturing in the fourth quarter valued at $69,255,000. Finally, Janus Henderson Group PLC boosted its stake in Modine Manufacturing by 2,249.9% in the 1st quarter. Janus Henderson Group PLC now owns 523,507 shares of the auto parts company's stock worth $113,459,000 after buying an additional 501,229 shares during the last quarter. Institutional investors and hedge funds own 95.23% of the company's stock.

Modine Manufacturing Trading Down 2.6%

Shares of MOD opened at $190.15 on Friday. The stock's 50-day moving average is $233.94 and its two-hundred day moving average is $236.29. The stock has a market cap of $10.10 billion, a PE ratio of 71.48, a P/E/G ratio of 0.64 and a beta of 1.71. Modine Manufacturing Company has a 12 month low of $111.18 and a 12 month high of $323.25. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.04 and a quick ratio of 1.22.

Modine Manufacturing (NYSE:MOD - Get Free Report) last issued its earnings results on Tuesday, July 28th. The auto parts company reported $1.53 earnings per share for the quarter, topping the consensus estimate of $1.27 by $0.26. The company had revenue of $874.10 million during the quarter, compared to the consensus estimate of $878.69 million. Modine Manufacturing had a return on equity of 25.59% and a net margin of 4.28%.The company's revenue was up 28.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.95 earnings per share. Equities analysts forecast that Modine Manufacturing Company will post 7.65 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on MOD. Weiss Ratings upgraded shares of Modine Manufacturing from a "hold (c-)" rating to a "hold (c)" rating in a report on Thursday, May 28th. Wall Street Zen downgraded Modine Manufacturing from a "buy" rating to a "hold" rating in a report on Saturday, July 25th. UBS Group raised their price target on shares of Modine Manufacturing to $310.00 and gave the company a "buy" rating in a report on Wednesday, May 27th. KeyCorp reduced their price target on shares of Modine Manufacturing from $370.00 to $280.00 and set an "overweight" rating on the stock in a research report on Thursday, July 30th. Finally, B. Riley Financial reiterated a "buy" rating and set a $305.00 price objective (down from $340.00) on shares of Modine Manufacturing in a research note on Thursday, July 30th. Seven equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $320.14.

Insider Activity

In other news, Director Eric D. Ashleman sold 15,000 shares of the business's stock in a transaction on 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 directly owned 42,350 shares of the company's stock, valued at approximately $12,219,669. The trade was a 26.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Brian Jon Agen sold 38,282 shares of the business's stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $295.17, for a total transaction of $11,299,697.94. Following the transaction, the vice president directly owned 66,343 shares in the company, valued at approximately $19,582,463.31. The trade was a 36.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 54,302 shares of company stock worth $15,928,759 over the last 90 days. Company insiders own 1.92% of the company's stock.

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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