Modine Manufacturing Company $MOD Stake Boosted by Moody National Bank Trust Division

Moody National Bank Trust Division raised its position in shares of Modine Manufacturing Company (NYSE:MOD) by 72.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 19,826 shares of the auto parts company’s stock after buying an additional 8,296 shares during the quarter. Moody National Bank Trust Division’s holdings in Modine Manufacturing were worth $2,818,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the company. Handelsbanken Fonder AB raised its holdings in shares of Modine Manufacturing by 0.8% during the second quarter. Handelsbanken Fonder AB now owns 13,100 shares of the auto parts company’s stock valued at $1,290,000 after acquiring an additional 100 shares during the period. Northwestern Mutual Wealth Management Co. grew its position in Modine Manufacturing by 5.5% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 2,006 shares of the auto parts company’s stock worth $154,000 after purchasing an additional 105 shares in the last quarter. Vanguard Personalized Indexing Management LLC raised its stake in Modine Manufacturing by 3.7% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 4,602 shares of the auto parts company’s stock valued at $453,000 after purchasing an additional 165 shares during the period. Ethic Inc. lifted its holdings in shares of Modine Manufacturing by 5.8% in the second quarter. Ethic Inc. now owns 3,396 shares of the auto parts company’s stock valued at $344,000 after purchasing an additional 185 shares in the last quarter. Finally, GAMMA Investing LLC boosted its position in shares of Modine Manufacturing by 52.6% in the second quarter. GAMMA Investing LLC now owns 560 shares of the auto parts company’s stock worth $55,000 after buying an additional 193 shares during the period. 95.23% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on MOD. Zacks Research downgraded Modine Manufacturing from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 29th. DA Davidson restated a “buy” rating and set a $200.00 price target on shares of Modine Manufacturing in a report on Wednesday, November 19th. Oppenheimer upped their price objective on shares of Modine Manufacturing from $145.00 to $180.00 and gave the company an “outperform” rating in a research note on Tuesday, October 14th. KeyCorp lifted their target price on shares of Modine Manufacturing from $160.00 to $175.00 and gave the company an “overweight” rating in a research note on Tuesday, October 14th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Modine Manufacturing in a report on Monday. Four 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 an average rating of “Moderate Buy” and a consensus price target of $182.00.

Modine Manufacturing Stock Performance

Shares of NYSE MOD opened at $138.76 on Wednesday. The business’s 50-day simple moving average is $151.90 and its 200-day simple moving average is $131.96. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.16 and a current ratio of 2.00. Modine Manufacturing Company has a 52 week low of $64.79 and a 52 week high of $166.94. The firm has a market cap of $7.31 billion, a price-to-earnings ratio of 40.10, a P/E/G ratio of 0.91 and a beta of 1.69.

Modine Manufacturing (NYSE:MOD) last posted its earnings results on Tuesday, October 28th. The auto parts company reported $1.06 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.09. Modine Manufacturing had a return on equity of 23.19% and a net margin of 6.93%.The firm had revenue of $738.90 million during the quarter, compared to analyst estimates of $699.91 million. During the same period in the previous year, the company earned $0.97 EPS. The company’s revenue for the quarter was up 12.3% on a year-over-year basis. As a group, equities research analysts expect that Modine Manufacturing Company will post 3.88 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Neil David Brinker sold 31,871 shares of the company’s stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $160.56, for a total transaction of $5,117,207.76. Following the completion of the sale, the chief executive officer directly owned 238,312 shares of the company’s stock, valued at approximately $38,263,374.72. This represents a 11.80% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 2.48% of the company’s stock.

Modine Manufacturing 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.