Hsbc Holdings PLC Buys New Shares in Modine Manufacturing Company $MOD

Hsbc Holdings PLC bought a new position in Modine Manufacturing Company (NYSE:MOD) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 6,102 shares of the auto parts company’s stock, valued at approximately $1,622,000.

Other institutional investors have also bought and sold shares of the company. V Square Quantitative Management LLC purchased a new position in shares of Modine Manufacturing in the first quarter valued at about $25,000. Kemnay Advisory Services Inc. purchased a new stake in shares of Modine Manufacturing during the fourth quarter worth about $25,000. Sunbelt Securities Inc. purchased a new stake in shares of Modine Manufacturing during the third quarter worth about $39,000. Rakuten Securities Inc. bought a new stake in Modine Manufacturing during the 2nd quarter valued at approximately $40,000. Finally, Danske Bank A S bought a new stake in Modine Manufacturing during the 3rd quarter valued at approximately $43,000. Hedge funds and other institutional investors own 95.23% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Weiss Ratings restated a “hold (c)” rating on shares of Modine Manufacturing in a research note on Tuesday, August 25th. B. Riley Financial reiterated a “buy” rating and set a $305.00 price objective (down from $340.00) on shares of Modine Manufacturing in a research report on Thursday, July 30th. Oppenheimer boosted their target price on shares of Modine Manufacturing from $271.00 to $325.00 and gave the stock an “outperform” rating in a report on Thursday, May 28th. Wall Street Zen lowered shares of Modine Manufacturing from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. Finally, Glj Research reaffirmed a “buy” rating and set a $428.00 target price on shares of Modine Manufacturing in a research note on Monday, June 1st. Seven 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.com, Modine Manufacturing currently has a consensus rating of “Moderate Buy” and a consensus price target of $320.14.

Insider Activity

In other Modine Manufacturing news, insider Eric S. Mcginnis sold 1,020 shares of the company’s stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $295.06, for a total transaction of $300,961.20. Following the sale, the insider directly owned 28,364 shares in the company, valued at $8,369,081.84. This represents a 3.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Eric D. Ashleman sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $288.54, for a total value of $4,328,100.00. Following the completion of the sale, the director directly owned 42,350 shares of the company’s stock, valued at $12,219,669. The trade was a 26.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 54,302 shares of company stock worth $15,928,759. 1.92% of the stock is currently owned by corporate insiders.

Modine Manufacturing Price Performance

Shares of Modine Manufacturing stock opened at $177.47 on Monday. The firm has a market cap of $9.43 billion, a PE ratio of 66.72, a PEG ratio of 0.58 and a beta of 1.71. The stock has a 50 day moving average of $222.05 and a 200 day moving average of $235.54. The company has a current ratio of 2.04, a quick ratio of 1.22 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.

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

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.