UBS Group AG Sells 46,557 Shares of Modine Manufacturing Company $MOD

Key Points

• UBS sold 46,557 shares of Modine, trimming its stake by 8.7% to 491,014 shares, worth about $65.56 million according to its SEC filing.
• Other institutions increased exposure—Capital Research opened a roughly $184.6 million stake, WT Asset Management added about $69.3 million, and Invesco boosted its holding 133% to 598,140 shares—leaving institutional ownership at 95.23%.
• Modine beat quarterly estimates (EPS $1.19 vs $0.99; revenue $805M, +30.5% YoY), but trades at a high valuation (P/E 145) and carries a consensus analyst rating of "Moderate Buy" with a $234.33 target.

UBS Group AG lessened its stake in shares of Modine Manufacturing Company (NYSE:MOD - Free Report) by 8.7% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 491,014 shares of the auto parts company's stock after selling 46,557 shares during the period. UBS Group AG owned 0.93% of Modine Manufacturing worth $65,555,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of MOD. Capital Research Global Investors bought a new stake in Modine Manufacturing during the third quarter valued at about $184,610,000. WT Asset Management Ltd bought a new position in shares of Modine Manufacturing in the fourth quarter worth approximately $69,255,000. Invesco Ltd. boosted its position in shares of Modine Manufacturing by 133.2% in the third quarter. Invesco Ltd. now owns 598,140 shares of the auto parts company's stock worth $85,032,000 after purchasing an additional 341,595 shares during the period. Adage Capital Partners GP L.L.C. bought a new position in shares of Modine Manufacturing in the second quarter worth approximately $28,322,000. Finally, Amundi bought a new position in shares of Modine Manufacturing in the third quarter worth approximately $42,185,000. Institutional investors own 95.23% of the company's stock.

Modine Manufacturing Price Performance

NYSE:MOD opened at $261.02 on Tuesday. The business has a 50 day simple moving average of $223.54 and a 200-day simple moving average of $179.97. The firm has a market capitalization of $13.76 billion, a price-to-earnings ratio of 145.01, a PEG ratio of 1.09 and a beta of 1.66. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.19 and a quick ratio of 1.28. Modine Manufacturing Company has a 1 year low of $86.48 and a 1 year high of $272.61.

Modine Manufacturing (NYSE:MOD - Get Free Report) last released its earnings results on Wednesday, February 4th. The auto parts company reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.20. The firm had revenue of $805.00 million during the quarter, compared to analyst estimates of $763.54 million. Modine Manufacturing had a net margin of 3.40% and a return on equity of 22.99%. The business's revenue was up 30.5% on a year-over-year basis. During the same quarter last year, the business earned $0.92 EPS. Equities analysts forecast that Modine Manufacturing Company will post 4.82 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on MOD shares. Oppenheimer upped their price target on shares of Modine Manufacturing from $220.00 to $240.00 and gave the stock an "outperform" rating in a research report on Friday, February 6th. Glj Research initiated coverage on Modine Manufacturing in a research note on Monday, March 30th. They issued a "buy" rating and a $290.00 price objective for the company. DA Davidson reissued a "buy" rating and set a $265.00 price target on shares of Modine Manufacturing in a research note on Tuesday, March 31st. Wall Street Zen lowered shares of Modine Manufacturing from a "buy" rating to a "hold" rating in a research report on Sunday, February 22nd. Finally, Roth Mkm started coverage on shares of Modine Manufacturing in a research report on Wednesday, February 18th. They set a "buy" rating and a $263.00 price objective for the company. Six investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, Modine Manufacturing has a consensus rating of "Moderate Buy" and a consensus target price of $234.33.

Modine Manufacturing Company 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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