Modine Manufacturing Company $MOD Shares Sold by EFG Asset Management North America Corp.

EFG Asset Management North America Corp. decreased its holdings in shares of Modine Manufacturing Company (NYSE:MOD) by 9.3% during the 3rd quarter, Holdings Channel.com reports. The firm owned 38,676 shares of the auto parts company’s stock after selling 3,965 shares during the period. EFG Asset Management North America Corp.’s holdings in Modine Manufacturing were worth $5,501,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the stock. First Horizon Corp purchased a new stake in Modine Manufacturing during the third quarter valued at about $38,000. Parkside Financial Bank & Trust raised its position in shares of Modine Manufacturing by 2,025.0% in the 2nd quarter. Parkside Financial Bank & Trust now owns 425 shares of the auto parts company’s stock valued at $42,000 after purchasing an additional 405 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Modine Manufacturing by 52.6% during the second quarter. GAMMA Investing LLC now owns 560 shares of the auto parts company’s stock worth $55,000 after purchasing an additional 193 shares during the last quarter. Elevation Point Wealth Partners LLC bought a new stake in shares of Modine Manufacturing during the 2nd quarter valued at about $57,000. Finally, Toth Financial Advisory Corp acquired a new stake in shares of Modine Manufacturing during the 3rd quarter worth approximately $57,000. 95.23% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MOD has been the topic of a number of analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Modine Manufacturing in a report on Monday, December 29th. DA Davidson reiterated a “buy” rating and issued a $200.00 price target on shares of Modine Manufacturing in a research report on Wednesday, November 19th. Zacks Research lowered shares of Modine Manufacturing from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 29th. UBS Group started coverage on shares of Modine Manufacturing in a research note on Thursday, November 20th. They issued a “buy” rating and a $173.00 price objective on the stock. Finally, KeyCorp increased their target price on shares of Modine Manufacturing from $160.00 to $175.00 and gave the company an “overweight” rating in a research note on Tuesday, October 14th. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $182.00.

Modine Manufacturing Price Performance

NYSE MOD opened at $148.32 on Tuesday. The company has a current ratio of 2.00, a quick ratio of 1.16 and a debt-to-equity ratio of 0.50. Modine Manufacturing Company has a 1 year low of $64.79 and a 1 year high of $166.94. The company has a market cap of $7.81 billion, a PE ratio of 42.87, a PEG ratio of 0.93 and a beta of 1.70. The stock’s 50-day moving average price is $142.06 and its two-hundred day moving average price is $139.69.

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

Insider Buying and Selling

In related news, CEO Neil David Brinker sold 31,871 shares of the firm’s 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 completion of the transaction, the chief executive officer owned 238,312 shares of the company’s stock, valued at approximately $38,263,374.72. This trade represents a 11.80% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Suresh V. Garimella sold 1,100 shares of the business’s stock in a transaction on Thursday, January 22nd. The shares were sold at an average price of $150.00, for a total transaction of $165,000.00. Following the sale, the director directly owned 80,956 shares in the company, valued at approximately $12,143,400. This trade represents a 1.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 2.48% of the company’s stock.

About Modine Manufacturing

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.