Modine Manufacturing Company $MOD Position Increased by Moody National Bank Trust Division

Moody National Bank Trust Division increased its stake in shares of Modine Manufacturing Company (NYSE:MOD) by 72.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund 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.

A number of other hedge funds also recently added to or reduced their stakes in MOD. Schear Investment Advisers LLC acquired a new stake in shares of Modine Manufacturing in the 2nd quarter worth about $1,547,000. Park Avenue Securities LLC acquired a new position in Modine Manufacturing during the 2nd quarter valued at about $260,000. F m Investments LLC grew its position in Modine Manufacturing by 12.7% in the 2nd quarter. F m Investments LLC now owns 57,972 shares of the auto parts company’s stock worth $5,710,000 after purchasing an additional 6,510 shares during the last quarter. Harbor Capital Advisors Inc. increased its stake in shares of Modine Manufacturing by 28.6% in the second quarter. Harbor Capital Advisors Inc. now owns 182,810 shares of the auto parts company’s stock valued at $18,007,000 after purchasing an additional 40,691 shares during the period. Finally, Situational Awareness LP increased its stake in shares of Modine Manufacturing by 980.1% in the first quarter. Situational Awareness LP now owns 716,824 shares of the auto parts company’s stock valued at $55,016,000 after purchasing an additional 650,457 shares during the period. 95.23% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

MOD has been the subject of a number of recent analyst reports. UBS Group started coverage on Modine Manufacturing in a report on Thursday, November 20th. They issued a “buy” rating and a $173.00 price objective for the company. Zacks Research cut Modine Manufacturing from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 29th. Oppenheimer raised their price target on Modine Manufacturing from $145.00 to $180.00 and gave the company an “outperform” rating in a report on Tuesday, October 14th. KeyCorp upped their price objective on shares of Modine Manufacturing from $160.00 to $175.00 and gave the stock an “overweight” rating in a report on Tuesday, October 14th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Modine Manufacturing in a research report on Monday. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, Modine Manufacturing currently has a consensus rating of “Moderate Buy” and a consensus price target of $182.00.

Modine Manufacturing Trading Down 2.5%

Shares of MOD stock opened at $138.76 on Wednesday. The stock has a 50-day simple moving average of $151.90 and a 200 day simple moving average of $131.96. The stock has a market capitalization of $7.31 billion, a P/E ratio of 40.10, a P/E/G ratio of 0.91 and a beta of 1.69. Modine Manufacturing Company has a fifty-two week low of $64.79 and a fifty-two week high of $166.94. The company has a quick ratio of 1.16, a current ratio of 2.00 and a debt-to-equity ratio of 0.50.

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

Insiders Place Their Bets

In other Modine Manufacturing news, CEO Neil David Brinker sold 31,871 shares of Modine Manufacturing stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $160.56, for a total value of $5,117,207.76. Following the transaction, the chief executive officer owned 238,312 shares in the company, valued at approximately $38,263,374.72. The trade was a 11.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 2.48% of the company’s stock.

About Modine Manufacturing

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.