Nippon Life Global Investors Americas Inc. Acquires Shares of 107,320 Modine Manufacturing Company $MOD

Nippon Life Global Investors Americas Inc. acquired a new position in Modine Manufacturing Company (NYSE:MOD) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 107,320 shares of the auto parts company’s stock, valued at approximately $28,657,000. Modine Manufacturing makes up about 1.1% of Nippon Life Global Investors Americas Inc.’s investment portfolio, making the stock its 29th biggest position. Nippon Life Global Investors Americas Inc. owned about 0.20% of Modine Manufacturing as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently made changes to their positions in the company. Optiver Holding B.V. increased its stake in shares of Modine Manufacturing by 19.7% in the first quarter. Optiver Holding B.V. now owns 237 shares of the auto parts company’s stock valued at $51,000 after buying an additional 39 shares in the last quarter. World Investment Advisors increased 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 valued at $356,000 after acquiring an additional 65 shares in the last quarter. Xponance LLC increased 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 valued at $591,000 after acquiring an additional 75 shares in the last quarter. State of Alaska Department of Revenue raised its stake in shares of Modine Manufacturing by 3.4% in the fourth quarter. State of Alaska Department of Revenue now owns 3,156 shares of the auto parts company’s stock worth $421,000 after acquiring an additional 103 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its stake in shares of Modine Manufacturing by 6.1% in the first quarter. PNC Financial Services Group Inc. now owns 1,780 shares of the auto parts company’s stock worth $386,000 after acquiring an additional 103 shares during the last quarter. Institutional investors own 95.23% of the company’s stock.

Insiders Place Their Bets

In other Modine Manufacturing news, Director Eric D. Ashleman sold 15,000 shares of the company’s stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $288.54, for a total transaction of $4,328,100.00. Following the completion of the sale, the director owned 42,350 shares in the company, valued at approximately $12,219,669. The trade was a 26.16% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Eric S. Mcginnis sold 1,020 shares of the company’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 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 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. Company insiders own 1.92% of the company’s stock.

Modine Manufacturing Stock Up 0.1%

Shares of NYSE:MOD opened at $209.67 on Monday. Modine Manufacturing Company has a one year low of $111.18 and a one year high of $323.25. The company has a 50 day moving average of $239.57 and a 200-day moving average of $235.26. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.04 and a quick ratio of 1.22. The stock has a market cap of $11.14 billion, a price-to-earnings ratio of 78.82, a P/E/G ratio of 0.68 and a beta of 1.71.

Modine Manufacturing (NYSE:MOD) last announced its quarterly earnings data on Tuesday, July 28th. The auto parts company reported $1.53 earnings per share for the quarter, beating the consensus estimate of $1.27 by $0.26. Modine Manufacturing had a net margin of 4.28% and a return on equity of 25.59%. The business had revenue of $874.10 million for the quarter, compared to analyst estimates of $878.69 million. During the same period in the prior year, the business posted $0.95 earnings per share. Modine Manufacturing’s revenue was up 28.0% compared to the same quarter last year. On average, sell-side analysts forecast that Modine Manufacturing Company will post 7.65 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on MOD. DA Davidson reissued a “buy” rating and set a $330.00 price target on shares of Modine Manufacturing in a research note on Monday, June 22nd. UBS Group increased their price objective on Modine Manufacturing to $310.00 and gave the company a “buy” rating in a research report on Wednesday, May 27th. Weiss Ratings raised Modine Manufacturing from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, May 28th. Oppenheimer boosted their target price on Modine Manufacturing from $271.00 to $325.00 and gave the stock an “outperform” rating in a research report on Thursday, May 28th. 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 analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $320.14.

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.