Gibbs Wealth Management Acquires 2,781 Shares of Modine Manufacturing Company $MOD

Gibbs Wealth Management boosted its holdings in Modine Manufacturing Company (NYSE:MOD) by 65.2% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 7,049 shares of the auto parts company’s stock after purchasing an additional 2,781 shares during the quarter. Gibbs Wealth Management’s holdings in Modine Manufacturing were worth $1,528,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. State of Wyoming boosted its position in shares of Modine Manufacturing by 55.9% in the 1st quarter. State of Wyoming now owns 2,694 shares of the auto parts company’s stock worth $584,000 after purchasing an additional 966 shares in the last quarter. Cetera Investment Advisers grew its stake in shares of Modine Manufacturing by 5.8% in the 1st quarter. Cetera Investment Advisers now owns 20,731 shares of the auto parts company’s stock worth $4,493,000 after buying an additional 1,141 shares during the last quarter. CI Investments Inc. bought a new position in Modine Manufacturing during the 1st quarter valued at approximately $16,191,000. First Trust Advisors LP increased its position in Modine Manufacturing by 13.0% during the 1st quarter. First Trust Advisors LP now owns 11,081 shares of the auto parts company’s stock valued at $2,401,000 after buying an additional 1,272 shares in the last quarter. Finally, Himension Capital Singapore PTE. LTD. purchased a new position in Modine Manufacturing during the first quarter valued at $1,835,000. Institutional investors own 95.23% of the company’s stock.

Modine Manufacturing Trading Up 0.1%

Shares of NYSE:MOD opened at $250.01 on Friday. The stock has a market capitalization of $13.28 billion, a price-to-earnings ratio of 111.61, a PEG ratio of 0.81 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 stock’s 50-day simple moving average is $262.68 and its two-hundred day simple moving average is $227.52. Modine Manufacturing Company has a 52-week low of $96.45 and a 52-week high of $323.25.

Modine Manufacturing (NYSE:MOD) last released its quarterly earnings results on Tuesday, May 26th. The auto parts company reported $1.71 EPS for the quarter, beating the consensus estimate 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 analyst estimates of $920.67 million. During the same quarter in the prior year, the firm earned $1.12 EPS. The business’s revenue for the quarter was up 47.5% compared to the same quarter last year. Analysts expect that Modine Manufacturing Company will post 7.72 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have commented on MOD. Glj Research reissued a “buy” rating and issued a $428.00 target price on shares of Modine Manufacturing in a report on Monday, June 1st. Oppenheimer lifted their price target on Modine Manufacturing from $271.00 to $325.00 and gave the stock an “outperform” rating in a research report on Thursday, May 28th. UBS Group upped their price target on shares of Modine Manufacturing to $310.00 and gave the stock a “buy” rating in a research note on Wednesday, May 27th. KeyCorp raised their price objective on shares of Modine Manufacturing from $250.00 to $370.00 and gave the company an “overweight” rating in a research note on Wednesday, May 27th. Finally, B. Riley Financial lifted their target price on shares of Modine Manufacturing from $250.00 to $264.00 and gave the stock a “buy” rating in a report on Tuesday, May 26th. Seven equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $327.14.

Insider Buying and Selling at Modine Manufacturing

In other news, insider Eric S. Mcginnis sold 1,020 shares of the business’s stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $295.06, for a total transaction of $300,961.20. Following the completion of the sale, the insider owned 28,364 shares of the company’s stock, valued at $8,369,081.84. The trade was a 3.47% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Brian Jon Agen sold 38,282 shares of the firm’s stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $295.17, for a total value 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. This represents a 36.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 54,302 shares of company stock valued at $15,928,759. Insiders own 1.92% of the company’s stock.

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.