Livforsakringsbolaget Skandia Omsesidigt Increases Position in Modine Manufacturing (NYSE:MOD)

Livforsakringsbolaget Skandia Omsesidigt boosted its holdings in shares of Modine Manufacturing (NYSE:MOD - Free Report) by 159.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,500 shares of the auto parts company's stock after purchasing an additional 13,200 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt's holdings in Modine Manufacturing were worth $1,284,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the business. Nisa Investment Advisors LLC boosted its holdings in shares of Modine Manufacturing by 51.8% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,172 shares of the auto parts company's stock worth $70,000 after purchasing an additional 400 shares during the period. Harbour Investments Inc. increased its position in Modine Manufacturing by 154.1% during the second quarter. Harbour Investments Inc. now owns 1,245 shares of the auto parts company's stock valued at $41,000 after acquiring an additional 755 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Modine Manufacturing by 966.7% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,472 shares of the auto parts company's stock valued at $29,000 after acquiring an additional 1,334 shares during the period. Point72 Middle East FZE bought a new stake in shares of Modine Manufacturing in the 4th quarter worth about $31,000. Finally, Tower Research Capital LLC TRC boosted its stake in shares of Modine Manufacturing by 161.3% during the 1st quarter. Tower Research Capital LLC TRC now owns 1,680 shares of the auto parts company's stock worth $38,000 after purchasing an additional 1,037 shares during the period. Institutional investors own 95.23% of the company's stock.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. StockNews.com downgraded shares of Modine Manufacturing from a "buy" rating to a "hold" rating in a research note on Wednesday, January 31st. Oppenheimer began coverage on Modine Manufacturing in a research note on Tuesday, March 19th. They set an "outperform" rating and a $105.00 price target for the company. DA Davidson reaffirmed a "buy" rating and issued a $90.00 price objective on shares of Modine Manufacturing in a research report on Tuesday, February 27th. Finally, B. Riley reiterated a "buy" rating and issued a $98.00 target price (up previously from $88.00) on shares of Modine Manufacturing in a research note on Tuesday, February 27th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $97.67.

Insider Buying and Selling

In other Modine Manufacturing news, CFO Michael B. Lucareli sold 82,312 shares of the firm's stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $90.33, for a total transaction of $7,435,242.96. Following the transaction, the chief financial officer now owns 194,587 shares of the company's stock, valued at approximately $17,577,043.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, VP Brian Jon Agen sold 16,799 shares of the business's stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $95.64, for a total value of $1,606,656.36. Following the completion of the transaction, the vice president now directly owns 102,409 shares of the company's stock, valued at approximately $9,794,396.76. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Michael B. Lucareli sold 82,312 shares of the firm's stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $90.33, for a total value of $7,435,242.96. Following the sale, the chief financial officer now directly owns 194,587 shares in the company, valued at approximately $17,577,043.71. The disclosure for this sale can be found here. Insiders sold a total of 113,336 shares of company stock valued at $10,330,115 over the last three months. 2.86% of the stock is owned by company insiders.

Modine Manufacturing Trading Down 2.3 %

Shares of NYSE:MOD traded down $1.93 during trading on Thursday, reaching $83.71. 1,144,328 shares of the company were exchanged, compared to its average volume of 990,411. The business's fifty day simple moving average is $88.26 and its 200-day simple moving average is $65.83. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.93 and a quick ratio of 1.21. Modine Manufacturing has a 12-month low of $19.41 and a 12-month high of $106.01. The firm has a market capitalization of $4.37 billion, a PE ratio of 20.20, a P/E/G ratio of 0.69 and a beta of 2.29.

Modine Manufacturing (NYSE:MOD - Get Free Report) last announced its quarterly earnings data on Tuesday, January 30th. The auto parts company reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.17. Modine Manufacturing had a return on equity of 25.28% and a net margin of 9.31%. The company had revenue of $561.40 million for the quarter, compared to analysts' expectations of $594.84 million. During the same quarter in the prior year, the firm earned $0.48 earnings per share. Modine Manufacturing's revenue was up .2% compared to the same quarter last year. On average, research analysts anticipate that Modine Manufacturing will post 3.27 EPS for the current year.

About Modine Manufacturing

Modine Manufacturing Company provides engineered heat transfer systems and heat transfer components for use in on- and off-highway original equipment manufacturer (OEM) vehicular applications. It operates through Climate Solutions and Performance Technologies segments. The company offers gas-fired, hydronic, electric, and oil-fired unit heaters; indoor and outdoor duct furnaces; infrared units; perimeter heating products, such as commercial fin-tube radiation, cabinet unit heaters, and convectors; roof-mounted direct- and indirect-fired makeup air units; unit ventilators; single packaged vertical units; precision air conditioning units for data center applications; air handler units; fan walls; chillers; ceiling cassettes; hybrid fan coils; and condensers and condensing units.