Blair William & Co. IL Acquires 34,154 Shares of Modine Manufacturing Company (NYSE:MOD)

Blair William & Co. IL raised its holdings in shares of Modine Manufacturing Company (NYSE:MOD) by 114.5% during the 1st quarter, HoldingsChannel reports. The fund owned 63,993 shares of the auto parts company’s stock after acquiring an additional 34,154 shares during the quarter. Blair William & Co. IL’s holdings in Modine Manufacturing were worth $4,911,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of the business. IFP Advisors Inc grew its position in shares of Modine Manufacturing by 14.2% during the first quarter. IFP Advisors Inc now owns 911 shares of the auto parts company’s stock worth $70,000 after purchasing an additional 113 shares in the last quarter. GAMMA Investing LLC boosted its stake in Modine Manufacturing by 63.1% in the 1st quarter. GAMMA Investing LLC now owns 367 shares of the auto parts company’s stock worth $28,000 after purchasing an additional 142 shares during the period. Summit Investment Advisors Inc. grew its holdings in Modine Manufacturing by 2.8% during the 4th quarter. Summit Investment Advisors Inc. now owns 5,284 shares of the auto parts company’s stock valued at $613,000 after buying an additional 146 shares in the last quarter. Mesirow Financial Investment Management Inc. raised its position in shares of Modine Manufacturing by 6.2% during the first quarter. Mesirow Financial Investment Management Inc. now owns 3,122 shares of the auto parts company’s stock valued at $241,000 after buying an additional 182 shares during the last quarter. Finally, Bay Rivers Group lifted its holdings in shares of Modine Manufacturing by 3.4% in the first quarter. Bay Rivers Group now owns 6,308 shares of the auto parts company’s stock worth $484,000 after buying an additional 209 shares in the last quarter. Hedge funds and other institutional investors own 95.23% of the company’s stock.

Insider Buying and Selling

In other news, EVP Michael B. Lucareli sold 80,661 shares of the stock in a transaction on Thursday, July 31st. The shares were sold at an average price of $128.33, for a total value of $10,351,226.13. Following the sale, the executive vice president owned 66,920 shares of the company’s stock, valued at approximately $8,587,843.60. This represents a 54.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Brian Jon Agen sold 47,939 shares of Modine Manufacturing stock in a transaction dated 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 transaction, the vice president directly owned 90,015 shares of the company’s stock, valued at approximately $9,946,657.50. This represents a 34.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 174,800 shares of company stock valued at $21,991,034. Company insiders own 2.48% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Oppenheimer raised their target price on shares of Modine Manufacturing from $121.00 to $122.00 and gave the company an “outperform” rating in a research note on Tuesday, July 1st. KeyCorp raised their price objective on Modine Manufacturing from $125.00 to $150.00 and gave the company an “overweight” rating in a research report on Thursday, July 31st. Finally, Wall Street Zen downgraded Modine Manufacturing from a “buy” rating to a “hold” rating in a research report on Saturday, August 2nd.

Modine Manufacturing Stock Performance

Shares of NYSE:MOD opened at $136.33 on Thursday. The firm has a fifty day simple moving average of $100.17 and a two-hundred day simple moving average of $93.44. Modine Manufacturing Company has a 52 week low of $64.79 and a 52 week high of $146.84. The company has a quick ratio of 1.28, a current ratio of 2.06 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $7.16 billion, a P/E ratio of 39.06, a PEG ratio of 0.89 and a beta of 2.12.

Modine Manufacturing (NYSE:MOD) last released its quarterly earnings results on Wednesday, July 30th. The auto parts company reported $1.06 EPS for the quarter, topping the consensus estimate of $0.93 by $0.13. Modine Manufacturing had a return on equity of 23.90% and a net margin of 7.21%. The company had revenue of $682.80 million during the quarter, compared to analyst estimates of $653.80 million. During the same quarter last year, the business posted $1.04 earnings per share. The firm’s revenue was up 3.2% on a year-over-year basis. On average, analysts expect that Modine Manufacturing Company will post 3.88 earnings per share for the current fiscal year.

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.