Groupe la Francaise Makes New Investment in Modine Manufacturing Company $MOD

Key Points

• Groupe la Française acquired 8,342 Modine Manufacturing shares worth approximately $2.23 million during the second quarter. Institutional investors collectively own 95.23% of the company.
• Modine insiders sold 54,302 shares worth about $15.93 million over the past 90 days, including significant sales by Director Eric D. Ashleman and insider Eric S. McGinnis.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $320.14. Modine recently reported quarterly EPS of $1.53, beating estimates, while revenue rose 28% year over year to $874.1 million.

Groupe la Francaise acquired a new stake in Modine Manufacturing Company (NYSE:MOD - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 8,342 shares of the auto parts company's stock, valued at approximately $2,229,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Modine Manufacturing during the 2nd quarter worth $1,816,000. California State Teachers Retirement System raised its position in Modine Manufacturing by 26,352.0% in the 2nd quarter. California State Teachers Retirement System now owns 15,536,826 shares of the auto parts company's stock valued at $4,148,643,000 after purchasing an additional 15,478,090 shares in the last quarter. Ameritas Advisory Services LLC acquired a new stake in Modine Manufacturing in the 2nd quarter valued at about $2,621,000. HB Wealth Management LLC boosted its stake in shares of Modine Manufacturing by 89.9% in the 2nd quarter. HB Wealth Management LLC now owns 2,224 shares of the auto parts company's stock valued at $594,000 after buying an additional 1,053 shares during the period. Finally, AlphaGrep UK Ltd purchased a new position in shares of Modine Manufacturing in the 2nd quarter valued at about $243,000. 95.23% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Modine Manufacturing

In related news, insider Eric S. Mcginnis sold 1,020 shares of the company's stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $295.06, for a total value of $300,961.20. Following the completion of the sale, the insider directly owned 28,364 shares of the company's stock, valued at $8,369,081.84. This represents a 3.47% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Eric D. Ashleman sold 15,000 shares of the firm's stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $288.54, for a total value of $4,328,100.00. Following the transaction, the director owned 42,350 shares in the company, valued at $12,219,669. This represents a 26.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 54,302 shares of company stock worth $15,928,759. Corporate insiders own 1.92% of the company's stock.

Analysts Set New Price Targets

MOD has been the topic of a number of recent research reports. UBS Group upped their target price on shares of Modine Manufacturing to $310.00 and gave the stock a "buy" rating in a research note on Wednesday, May 27th. B. Riley Financial reiterated a "buy" rating and issued a $305.00 price target (down from $340.00) on shares of Modine Manufacturing in a research note on Thursday, July 30th. 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. Weiss Ratings restated a "hold (c)" rating on shares of Modine Manufacturing in a report on Tuesday, August 25th. Finally, Oppenheimer lifted their price objective on shares of Modine Manufacturing from $271.00 to $325.00 and gave the stock an "outperform" rating in a research report on Thursday, May 28th. Seven 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 presently has a consensus rating of "Moderate Buy" and a consensus price target of $320.14.

Modine Manufacturing Stock Down 0.1%

Shares of NYSE:MOD opened at $194.54 on Tuesday. The firm has a 50 day simple moving average of $211.48 and a 200-day simple moving average of $234.19. Modine Manufacturing Company has a twelve month low of $111.18 and a twelve 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 company has a market capitalization of $10.33 billion, a PE ratio of 73.14, a P/E/G ratio of 0.64 and a beta of 1.74.

Modine Manufacturing (NYSE:MOD - Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The auto parts company reported $1.53 EPS for the quarter, topping the consensus estimate 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 period last year, the business earned $0.95 EPS. Modine Manufacturing's revenue for the quarter was up 28.0% compared to the same quarter last year. On average, equities analysts predict that Modine Manufacturing Company will post 7.65 EPS for the current fiscal year.

About Modine Manufacturing

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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