Y Intercept Hong Kong Ltd Purchases 13,424 Shares of Modine Manufacturing Company $MOD

Y Intercept Hong Kong Ltd increased its position in shares of Modine Manufacturing Company (NYSE:MOD) by 390.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,861 shares of the auto parts company’s stock after purchasing an additional 13,424 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Modine Manufacturing were worth $2,397,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the business. Wasatch Advisors LP grew its holdings in Modine Manufacturing by 1.4% during the 2nd quarter. Wasatch Advisors LP now owns 1,792,413 shares of the auto parts company’s stock worth $176,553,000 after acquiring an additional 23,955 shares during the period. State Street Corp grew its position in shares of Modine Manufacturing by 4.2% in the second quarter. State Street Corp now owns 1,309,488 shares of the auto parts company’s stock valued at $128,985,000 after purchasing an additional 53,351 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Modine Manufacturing by 1.2% in the second quarter. Geode Capital Management LLC now owns 1,214,976 shares of the auto parts company’s stock worth $119,690,000 after purchasing an additional 14,096 shares during the period. Artisan Partners Limited Partnership raised its position in Modine Manufacturing by 2.6% during the second quarter. Artisan Partners Limited Partnership now owns 941,779 shares of the auto parts company’s stock valued at $92,765,000 after purchasing an additional 24,312 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its stake in shares of Modine Manufacturing by 0.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 800,471 shares of the auto parts company’s stock valued at $78,846,000 after acquiring an additional 2,554 shares during the last quarter. Institutional investors and hedge funds own 95.23% of the company’s stock.

Insider Buying and Selling

In other news, CEO Neil David Brinker sold 31,871 shares of the business’s stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $160.56, for a total value of $5,117,207.76. Following the transaction, the chief executive officer directly owned 238,312 shares of the company’s stock, valued at $38,263,374.72. The trade was a 11.80% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Suresh V. Garimella sold 1,100 shares of the stock in a transaction that occurred 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 $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. 2.48% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts have issued reports on MOD shares. KeyCorp lifted their price objective on Modine Manufacturing from $160.00 to $175.00 and gave the company an “overweight” rating in a research note on Tuesday, October 14th. Oppenheimer boosted their price objective on shares of Modine Manufacturing from $145.00 to $180.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 14th. Weiss Ratings restated a “hold (c)” rating on shares of Modine Manufacturing in a research note on Monday, December 29th. UBS Group started coverage on shares of Modine Manufacturing in a research report on Thursday, November 20th. They issued a “buy” rating and a $173.00 price objective for the company. Finally, DA Davidson reiterated a “buy” rating and set a $200.00 price target on shares of Modine Manufacturing in a research report on Wednesday, November 19th. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $182.00.

Modine Manufacturing Trading Down 4.4%

NYSE:MOD traded down $6.45 during trading hours on Wednesday, reaching $140.46. 84,065 shares of the company were exchanged, compared to its average volume of 1,431,932. The stock has a 50 day simple moving average of $142.39 and a 200 day simple moving average of $140.08. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.00 and a quick ratio of 1.16. Modine Manufacturing Company has a 52-week low of $64.79 and a 52-week high of $166.94. The firm has a market cap of $7.39 billion, a price-to-earnings ratio of 40.59, a PEG ratio of 0.94 and a beta of 1.70.

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