Universal Beteiligungs und Servicegesellschaft mbH Decreases Stock Position in Modine Manufacturing Company (NYSE:MOD)

Key Points

• Universal Beteiligungs und Servicegesellschaft mbH has significantly reduced its stake in Modine Manufacturing Company, selling 73,881 shares and owning only 35,441 shares post-sale, representing a 67.6% decrease in its position.
• Modine Manufacturing recently reported $1.12 earnings per share (EPS) for the last quarter, exceeding estimates by $0.16, with a revenue increase of 7.2% year-over-year.
• Analysts have a consensus “Buy” rating for Modine Manufacturing, with several price target upgrades, including Oppenheimer's increase from $121.00 to $122.00 and KeyCorp’s new target of $125.00.

Universal Beteiligungs und Servicegesellschaft mbH lessened its holdings in shares of Modine Manufacturing Company (NYSE:MOD - Free Report) by 67.6% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 35,441 shares of the auto parts company's stock after selling 73,881 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH owned 0.07% of Modine Manufacturing worth $2,720,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Wasatch Advisors LP boosted its holdings in Modine Manufacturing by 108.0% during the fourth quarter. Wasatch Advisors LP now owns 1,428,415 shares of the auto parts company's stock worth $165,596,000 after buying an additional 741,667 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Modine Manufacturing by 384.3% during the first quarter. Bank of New York Mellon Corp now owns 848,068 shares of the auto parts company's stock worth $65,089,000 after purchasing an additional 672,960 shares during the period. Reinhart Partners LLC. raised its position in shares of Modine Manufacturing by 187.3% during the first quarter. Reinhart Partners LLC. now owns 875,834 shares of the auto parts company's stock worth $67,220,000 after purchasing an additional 571,026 shares during the period. J. Goldman & Co LP acquired a new stake in shares of Modine Manufacturing during the fourth quarter worth about $43,201,000. Finally, Norges Bank acquired a new stake in shares of Modine Manufacturing during the fourth quarter worth about $31,590,000. Institutional investors own 95.23% of the company's stock.

Insider Activity

In related news, VP Brian Jon Agen sold 47,939 shares of the firm's stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $110.50, for a total transaction of $5,297,259.50. Following the completion of the sale, the vice president owned 90,015 shares of the company's stock, valued at $9,946,657.50. This trade represents a 34.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Michael B. Lucareli sold 5,778 shares of the firm's stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $115.00, for a total value of $664,470.00. Following the sale, the executive vice president directly owned 121,142 shares of the company's stock, valued at $13,931,330. This represents a 4.55% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.48% of the company's stock.

Modine Manufacturing Price Performance

Shares of NYSE:MOD traded down $1.32 during trading on Friday, reaching $133.24. 1,996,053 shares of the company traded hands, compared to its average volume of 1,237,020. The company has a quick ratio of 1.15, a current ratio of 1.78 and a debt-to-equity ratio of 0.32. Modine Manufacturing Company has a 52 week low of $64.79 and a 52 week high of $146.84. The firm has a market capitalization of $6.99 billion, a PE ratio of 38.18, a PEG ratio of 0.74 and a beta of 2.04. The company's 50 day moving average is $97.39 and its two-hundred day moving average is $93.55.

Modine Manufacturing (NYSE:MOD - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The auto parts company reported $1.06 EPS for the quarter, topping analysts' consensus estimates of $0.93 by $0.13. Modine Manufacturing had a return on equity of 24.82% and a net margin of 7.21%. The company had revenue of $682.80 million during the quarter, compared to analysts' expectations of $653.80 million. During the same quarter in the previous year, the firm earned $1.04 EPS. Modine Manufacturing's revenue was up 3.2% on a year-over-year basis. As a group, sell-side analysts predict that Modine Manufacturing Company will post 3.88 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. KeyCorp boosted their price target on Modine Manufacturing from $125.00 to $150.00 and gave the stock an "overweight" rating in a research report on Thursday. Wall Street Zen raised Modine Manufacturing from a "hold" rating to a "buy" rating in a report on Saturday, June 7th. Finally, Oppenheimer boosted their target price on Modine Manufacturing from $121.00 to $122.00 and gave the stock an "outperform" rating in a report on Tuesday, July 1st. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $141.75.

Modine Manufacturing Company Profile

Modine Manufacturing Company provides thermal management products and solutions in the United States, Italy, Hungary, China, the United Kingdom, and internationally. It operates through Climate Solutions and Performance Technologies segments. The company offers heat transfer coils, including heat recovery and round tube plate fin coils; gas-fired, hydronic, electric and oilfired unit heaters; roof-mounted direct- and indirect-fired makeup air units; duct furnaces; infrared units; perimeter heating products; single packaged unit ventilators; modular chillers; air handler and condensing units; ceiling cassettes; evaporator unit coolers, remote condensers, fluid coolers, gas coolers, and dry and brine coolers; and motor and generator cooling coils, transformer oil coolers, radiators, dryers, and industrial heat exchangers.