Modine Manufacturing (NYSE:MOD) Shares Sold by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reduced its holdings in shares of Modine Manufacturing (NYSE:MOD) by 0.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 241,135 shares of the auto parts company’s stock after selling 1,168 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Modine Manufacturing were worth $27,955,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Skandinaviska Enskilda Banken AB publ boosted its position in shares of Modine Manufacturing by 567.6% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 227 shares of the auto parts company’s stock worth $27,000 after acquiring an additional 193 shares in the last quarter. Principal Securities Inc. boosted its position in shares of Modine Manufacturing by 97.8% during the 4th quarter. Principal Securities Inc. now owns 544 shares of the auto parts company’s stock worth $63,000 after acquiring an additional 269 shares in the last quarter. Nisa Investment Advisors LLC boosted its position in shares of Modine Manufacturing by 6.5% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,353 shares of the auto parts company’s stock worth $157,000 after acquiring an additional 82 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Modine Manufacturing during the 4th quarter worth about $172,000. Finally, Rothschild Investment LLC boosted its position in shares of Modine Manufacturing by 34.4% during the 4th quarter. Rothschild Investment LLC now owns 1,720 shares of the auto parts company’s stock worth $199,000 after acquiring an additional 440 shares in the last quarter. 95.23% of the stock is owned by institutional investors and hedge funds.

Modine Manufacturing Stock Down 0.2%

Shares of NYSE MOD opened at $90.13 on Tuesday. The stock has a market cap of $4.72 billion, a PE ratio of 30.24, a price-to-earnings-growth ratio of 0.71 and a beta of 2.08. The company has a quick ratio of 1.18, a current ratio of 1.87 and a debt-to-equity ratio of 0.38. Modine Manufacturing has a 52-week low of $64.79 and a 52-week high of $146.84. The business has a 50-day moving average price of $85.27 and a 200 day moving average price of $103.02.

Modine Manufacturing (NYSE:MOD) last announced its earnings results on Tuesday, May 20th. The auto parts company reported $1.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.16. The firm had revenue of $647.20 million during the quarter, compared to analysts’ expectations of $633.13 million. Modine Manufacturing had a return on equity of 24.25% and a net margin of 6.31%. The business’s revenue was up 7.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.77 EPS. Equities research analysts forecast that Modine Manufacturing will post 3.88 earnings per share for the current year.

Modine Manufacturing announced that its board has approved a stock buyback plan on Friday, March 7th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the auto parts company to purchase up to 2.4% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

Several research analysts have recently issued reports on MOD shares. DA Davidson reaffirmed a “buy” rating and set a $155.00 price objective on shares of Modine Manufacturing in a research report on Monday, March 17th. Oppenheimer upped their price objective on Modine Manufacturing from $114.00 to $121.00 and gave the stock an “outperform” rating in a research report on Thursday, May 22nd.

Insider Activity at Modine Manufacturing

In related news, Director William A. Wulfsohn acquired 2,530 shares of Modine Manufacturing stock in a transaction on Monday, March 3rd. The stock was purchased at an average cost of $79.43 per share, with a total value of $200,957.90. Following the purchase, the director now directly owns 7,277 shares in the company, valued at approximately $578,012.11. The trade was a 53.30% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.40% 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.