Bessemer Group Inc. Acquires 28,113 Shares of Modine Manufacturing Company $MOD

Bessemer Group Inc. lifted its holdings in Modine Manufacturing Company (NYSE:MOD) by 20.7% in the 1st quarter, Holdings Channel.com reports. The firm owned 163,832 shares of the auto parts company’s stock after buying an additional 28,113 shares during the quarter. Bessemer Group Inc.’s holdings in Modine Manufacturing were worth $35,504,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of MOD. Perigon Wealth Management LLC raised its stake in shares of Modine Manufacturing by 583.1% in the 4th quarter. Perigon Wealth Management LLC now owns 15,171 shares of the auto parts company’s stock valued at $2,025,000 after purchasing an additional 12,950 shares during the period. Congress Asset Management Co. lifted its holdings in shares of Modine Manufacturing by 7.8% in the fourth quarter. Congress Asset Management Co. now owns 568,853 shares of the auto parts company’s stock valued at $75,948,000 after purchasing an additional 41,373 shares in the last quarter. Van Berkom & Associates Inc. boosted its position in shares of Modine Manufacturing by 3,145.2% during the fourth quarter. Van Berkom & Associates Inc. now owns 436,084 shares of the auto parts company’s stock worth $58,222,000 after buying an additional 422,646 shares during the period. WT Asset Management Ltd acquired a new position in shares of Modine Manufacturing during the fourth quarter worth about $69,255,000. Finally, Pier Capital LLC bought a new position in shares of Modine Manufacturing during the fourth quarter worth about $7,765,000. 95.23% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

MOD has been the topic of a number of recent research reports. Weiss Ratings raised Modine Manufacturing from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, May 28th. Zacks Research downgraded Modine Manufacturing from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 13th. Glj Research reaffirmed a “buy” rating and set a $428.00 price target on shares of Modine Manufacturing in a research note on Monday, June 1st. Wall Street Zen upgraded shares of Modine Manufacturing from a “hold” rating to a “buy” rating in a report on Saturday, May 30th. Finally, B. Riley Financial boosted their price objective on shares of Modine Manufacturing from $250.00 to $264.00 and gave the stock a “buy” rating in a research report on Tuesday, May 26th. Seven research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, Modine Manufacturing has an average rating of “Moderate Buy” and an average price target of $327.14.

Insider Activity

In related news, 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 transaction, the vice president directly owned 66,343 shares in the company, valued at approximately $19,582,463.31. The trade was a 36.59% decrease in their ownership of the stock. The sale was disclosed in a filing 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 the company’s stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $295.06, for a total transaction of $300,961.20. Following the sale, the insider directly owned 28,364 shares in the company, valued at $8,369,081.84. This trade represents a 3.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 54,302 shares of company stock valued at $15,928,759. 2.48% of the stock is owned by insiders.

Modine Manufacturing Stock Performance

MOD opened at $229.31 on Friday. Modine Manufacturing Company has a 52-week low of $90.41 and a 52-week high of $323.25. The firm has a market capitalization of $12.18 billion, a PE ratio of 102.37, a PEG ratio of 0.73 and a beta of 1.67. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.25 and a current ratio of 1.94. The business’s 50-day simple moving average is $265.89 and its 200 day simple moving average is $223.86.

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