UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Buys 72,253 Shares of Modine Manufacturing Company $MOD

Key Points

• UBS Asset Management increased its Modine Manufacturing position by 59.5% in the second quarter, purchasing 72,253 additional shares for a total holding of 193,619 shares valued at approximately $51.7 million.
• Institutional investors own 95.23% of Modine’s stock, while insiders sold 54,302 shares worth about $15.9 million over the past 90 days.
• Modine beat quarterly earnings expectations with adjusted EPS of $1.53 versus the $1.27 consensus, while revenue rose 28% year over year to $874.1 million. Analysts maintain a “Moderate Buy” consensus with an average price target of $320.14.

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Modine Manufacturing Company (NYSE:MOD - Free Report) by 59.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 193,619 shares of the auto parts company's stock after purchasing an additional 72,253 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.36% of Modine Manufacturing worth $51,700,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. V Square Quantitative Management LLC bought a new stake in Modine Manufacturing in the first quarter worth about $25,000. Rakuten Securities Inc. purchased a new stake in shares of Modine Manufacturing during the second quarter worth $40,000. PenderFund Capital Management Ltd. purchased a new stake in Modine Manufacturing during the 2nd quarter worth about $42,000. Kemnay Advisory Services Inc. purchased a new stake in shares of Modine Manufacturing in the fourth quarter worth about $25,000. Finally, Vega Investment Solutions purchased a new stake in Modine Manufacturing in the 2nd quarter worth approximately $52,000. 95.23% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, VP Brian Jon Agen sold 38,282 shares of the stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $295.17, for a total value of $11,299,697.94. Following the completion of the sale, the vice president directly owned 66,343 shares of the company's stock, valued at approximately $19,582,463.31. This represents a 36.59% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Eric D. Ashleman sold 15,000 shares of the stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $288.54, for a total transaction of $4,328,100.00. Following the completion of the sale, the director directly owned 42,350 shares of the company's stock, valued at approximately $12,219,669. This trade represents a 26.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 54,302 shares of company stock worth $15,928,759. Company insiders own 1.92% of the company's stock.

Modine Manufacturing Trading Down 0.9%

Modine Manufacturing stock opened at $179.29 on Thursday. 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. The business's fifty day simple moving average is $215.88 and its two-hundred day simple moving average is $234.72. 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.

Modine Manufacturing (NYSE:MOD - Get Free Report) last issued its earnings results on Wednesday, July 29th. The auto parts company reported $1.53 EPS 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 business had revenue of $874.10 million for the quarter, compared to the consensus estimate of $878.69 million. During the same period last year, the business posted $0.95 EPS. The company's revenue was up 28.0% compared to the same quarter last year. As a group, equities analysts predict that Modine Manufacturing Company will post 7.65 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

MOD has been the topic of several recent analyst reports. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Modine Manufacturing in a report on Tuesday, August 25th. B. Riley Financial reissued 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. Oppenheimer boosted their price objective on Modine Manufacturing from $271.00 to $325.00 and gave the company an "outperform" rating in a research report on Thursday, May 28th. KeyCorp reiterated an "overweight" rating and set a $280.00 target price on shares of Modine Manufacturing in a report on Wednesday. Finally, UBS Group raised their price target on Modine Manufacturing to $310.00 and gave the stock a "buy" rating in a research note on Wednesday, May 27th. Seven 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 a consensus target price of $320.14.

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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