15,023 Shares in Modine Manufacturing Company $MOD Bought by EFG International AG

EFG International AG bought a new position in shares of Modine Manufacturing Company (NYSE:MOD) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 15,023 shares of the auto parts company’s stock, valued at approximately $4,010,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. V Square Quantitative Management LLC acquired a new stake in shares of Modine Manufacturing during the first quarter worth about $25,000. Rakuten Securities Inc. acquired a new position in shares of Modine Manufacturing in the 2nd quarter valued at approximately $40,000. Kemnay Advisory Services Inc. acquired a new position in shares of Modine Manufacturing in the 4th quarter valued at approximately $25,000. Vega Investment Solutions bought a new stake in Modine Manufacturing during the 2nd quarter worth approximately $52,000. Finally, Optiver Holding B.V. increased its stake in Modine Manufacturing by 19.7% during the 1st quarter. Optiver Holding B.V. now owns 237 shares of the auto parts company’s stock worth $51,000 after purchasing an additional 39 shares in the last quarter. 95.23% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Modine Manufacturing

In related news, VP Brian Jon Agen sold 38,282 shares of the firm’s stock in a transaction 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 transaction, the vice president owned 66,343 shares of the company’s stock, valued at approximately $19,582,463.31. This trade represents a 36.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Eric S. Mcginnis sold 1,020 shares of Modine Manufacturing stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $295.06, for a total transaction of $300,961.20. Following the completion of the sale, the insider owned 28,364 shares in the company, valued at $8,369,081.84. The trade was a 3.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 54,302 shares of company stock valued at $15,928,759. Corporate insiders own 1.92% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on MOD. UBS Group raised their target price on shares of Modine Manufacturing to $310.00 and gave the stock a “buy” rating in a report on Wednesday, May 27th. Wall Street Zen cut shares of Modine Manufacturing from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. Glj Research reissued a “buy” rating and set a $428.00 price objective on shares of Modine Manufacturing in a research report on Monday, June 1st. KeyCorp dropped their price objective on shares of Modine Manufacturing from $370.00 to $280.00 and set an “overweight” rating on the stock in a report on Thursday, July 30th. Finally, B. Riley Financial reaffirmed a “buy” rating and issued a $305.00 price objective (down from $340.00) on shares of Modine Manufacturing in a research report on Thursday, July 30th. Seven equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, Modine Manufacturing presently has a consensus rating of “Moderate Buy” and an average price target of $320.14.

Modine Manufacturing Trading Down 0.4%

NYSE:MOD opened at $187.25 on Thursday. The company has a market cap of $9.94 billion, a P/E ratio of 70.39, a price-to-earnings-growth ratio of 0.61 and a beta of 1.71. Modine Manufacturing Company has a twelve month low of $111.18 and a twelve month high of $323.25. The business has a 50 day moving average price of $226.58 and a two-hundred day moving average price of $236.03. The company has a quick ratio of 1.22, a current ratio of 2.04 and a debt-to-equity ratio of 0.39.

Modine Manufacturing (NYSE:MOD) last posted its quarterly earnings data on Wednesday, July 29th. The auto parts company reported $1.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.27 by $0.26. The company had revenue of $874.10 million for the quarter, compared to the consensus estimate of $878.69 million. Modine Manufacturing had a net margin of 4.28% and a return on equity of 25.59%. The firm’s revenue was up 28.0% compared to the same quarter last year. During the same period last year, the company earned $0.95 earnings per share. As a group, analysts expect that Modine Manufacturing Company will post 7.65 EPS for the current fiscal year.

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.