Modine Manufacturing Company $MOD Shares Acquired by Hsbc Holdings PLC

Hsbc Holdings PLC lifted its holdings in shares of Modine Manufacturing Company (NYSE:MOD) by 113.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,086 shares of the auto parts company’s stock after purchasing an additional 2,705 shares during the period. Hsbc Holdings PLC’s holdings in Modine Manufacturing were worth $679,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of MOD. Rockefeller Capital Management L.P. lifted its stake in Modine Manufacturing by 135.6% in the 4th quarter. Rockefeller Capital Management L.P. now owns 1,972 shares of the auto parts company’s stock valued at $263,000 after buying an additional 1,135 shares in the last quarter. World Investment Advisors purchased a new position in Modine Manufacturing during the fourth quarter worth $211,000. DUTCH ASSET Corp purchased a new position in Modine Manufacturing during the fourth quarter worth $1,124,000. Aristides Capital LLC raised its holdings in shares of Modine Manufacturing by 3.0% in the fourth quarter. Aristides Capital LLC now owns 6,803 shares of the auto parts company’s stock worth $908,000 after acquiring an additional 201 shares during the last quarter. Finally, MidFirst Bank acquired a new position in shares of Modine Manufacturing in the fourth quarter worth $177,000. 95.23% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Oppenheimer increased their price objective on Modine Manufacturing from $271.00 to $325.00 and gave the company an “outperform” rating in a research note on Thursday, May 28th. Glj Research reissued a “buy” rating and issued a $428.00 target price on shares of Modine Manufacturing in a research note on Monday, June 1st. Zacks Research lowered shares of Modine Manufacturing from a “strong-buy” rating to a “hold” rating in a report on Monday, April 13th. Weiss Ratings raised shares of Modine Manufacturing from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, May 28th. Finally, Wall Street Zen upgraded Modine Manufacturing from a “hold” rating to a “buy” rating in a report on Saturday, May 30th. Seven equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $327.14.

Modine Manufacturing Trading Up 1.1%

Shares of MOD stock opened at $232.19 on Thursday. The firm has a market cap of $12.33 billion, a P/E ratio of 103.66, a PEG ratio of 0.74 and a beta of 1.67. Modine Manufacturing Company has a 1-year low of $88.76 and a 1-year high of $323.25. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.94 and a quick ratio of 1.25. The firm’s 50-day simple moving average is $267.64 and its 200-day simple moving average is $223.20.

Modine Manufacturing (NYSE:MOD) last released its earnings results on Tuesday, May 26th. The auto parts company reported $1.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.51 by $0.20. Modine Manufacturing had a net margin of 3.82% and a return on equity of 24.39%. The firm had revenue of $954.40 million during the quarter, compared to the consensus estimate of $920.67 million. During the same period in the previous year, the firm earned $1.12 earnings per share. Modine Manufacturing’s revenue was up 47.5% compared to the same quarter last year. As a group, equities analysts forecast that Modine Manufacturing Company will post 7.72 EPS for the current year.

Insider Buying and Selling at Modine Manufacturing

In other Modine Manufacturing news, 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 value of $300,961.20. Following the transaction, the insider owned 28,364 shares in the company, valued at $8,369,081.84. This trade represents a 3.47% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Brian Jon Agen sold 38,282 shares of the business’s stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $295.17, for a total transaction of $11,299,697.94. Following the sale, the vice president directly owned 66,343 shares of the company’s stock, valued at $19,582,463.31. This represents a 36.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 54,302 shares of company stock worth $15,928,759 in the last quarter. 2.48% of the stock is owned by insiders.

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.