EFG International AG Purchases New Shares in Modine Manufacturing Company $MOD

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

A number of other hedge funds have also recently added to or reduced their stakes in MOD. Optiver Holding B.V. lifted its position in shares of Modine Manufacturing by 19.7% during the first 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. World Investment Advisors raised its position in Modine Manufacturing by 4.1% in the 1st quarter. World Investment Advisors now owns 1,643 shares of the auto parts company’s stock worth $356,000 after purchasing an additional 65 shares during the last quarter. Xponance LLC raised its position in Modine Manufacturing by 1.7% in the 4th quarter. Xponance LLC now owns 4,424 shares of the auto parts company’s stock worth $591,000 after purchasing an additional 75 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in Modine Manufacturing by 6.1% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,780 shares of the auto parts company’s stock worth $386,000 after buying an additional 103 shares in the last quarter. Finally, NewEdge Advisors LLC lifted its holdings in Modine Manufacturing by 18.3% during the 4th quarter. NewEdge Advisors LLC now owns 680 shares of the auto parts company’s stock worth $91,000 after buying an additional 105 shares in the last quarter. Institutional investors own 95.23% of the company’s stock.

Modine Manufacturing Stock Down 0.4%

NYSE:MOD opened at $187.25 on Thursday. 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 Company has a 12-month low of $111.18 and a 12-month high of $323.25. The stock’s fifty day simple moving average is $226.58 and its 200-day simple moving average is $236.03. The firm has a market capitalization of $9.94 billion, a P/E ratio of 70.39, a P/E/G ratio of 0.61 and a beta of 1.71.

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

Analysts Set New Price Targets

A number of research firms have recently weighed in on MOD. Wall Street Zen downgraded Modine Manufacturing from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. Weiss Ratings upgraded Modine Manufacturing from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, May 28th. B. Riley Financial reiterated 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. DA Davidson reissued a “buy” rating and set a $330.00 price objective on shares of Modine Manufacturing in a report on Monday, June 22nd. Finally, Glj Research restated a “buy” rating and set a $428.00 target price on shares of Modine Manufacturing in a research report on Monday, June 1st. Seven investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $320.14.

Insider Transactions at Modine Manufacturing

In other news, VP Brian Jon Agen sold 38,282 shares of the business’s stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $295.17, for a total transaction of $11,299,697.94. Following the completion of 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available 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 dated Thursday, June 18th. The shares were sold at an average price of $295.06, for a total value of $300,961.20. Following the completion of the sale, the insider directly owned 28,364 shares of the company’s stock, valued at approximately $8,369,081.84. This trade represents a 3.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 54,302 shares of company stock worth $15,928,759. 1.92% of the stock is currently owned by company insiders.

Modine Manufacturing Company 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.