The Manufacturers Life Insurance Company Buys Shares of 16,769 Modine Manufacturing Company $MOD

The Manufacturers Life Insurance Company purchased a new position in shares of Modine Manufacturing Company (NYSE:MOD) during the second quarter, HoldingsChannel.com reports. The fund purchased 16,769 shares of the auto parts company’s stock, valued at approximately $4,478,000.

Other institutional investors and hedge funds have also modified their holdings of the company. V Square Quantitative Management LLC acquired a new stake in Modine Manufacturing during the 1st quarter worth approximately $25,000. Rakuten Securities Inc. acquired a new position in shares of Modine Manufacturing in the second quarter valued at approximately $40,000. Kemnay Advisory Services Inc. bought a new stake in shares of Modine Manufacturing during the fourth quarter worth $25,000. Vega Investment Solutions bought a new stake in shares of Modine Manufacturing during the second quarter worth $52,000. Finally, Optiver Holding B.V. raised its holdings in shares of Modine Manufacturing by 19.7% during the first quarter. Optiver Holding B.V. now owns 237 shares of the auto parts company’s stock worth $51,000 after acquiring an additional 39 shares during the period. 95.23% of the stock is currently owned by institutional investors and hedge funds.

Modine Manufacturing Stock Up 0.9%

Modine Manufacturing stock opened at $179.15 on Tuesday. The company has a market cap of $9.51 billion, a P/E ratio of 67.35, a price-to-earnings-growth ratio of 0.58 and a beta of 1.71. Modine Manufacturing Company has a 1-year low of $111.18 and a 1-year high of $323.25. The company has a fifty day simple moving average of $219.73 and a 200 day simple moving average of $235.25. 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 (NYSE:MOD) last posted its quarterly earnings data on Wednesday, July 29th. The auto parts company reported $1.53 EPS for the quarter, topping analysts’ consensus estimates of $1.27 by $0.26. The company had revenue of $874.10 million during the quarter, compared to the consensus estimate of $878.69 million. Modine Manufacturing had a net margin of 4.28% and a return on equity of 25.59%. The company’s quarterly revenue was up 28.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.95 EPS. Research analysts anticipate that Modine Manufacturing Company will post 7.65 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Modine Manufacturing news, insider Eric S. Mcginnis sold 1,020 shares of the business’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 transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Brian Jon Agen sold 38,282 shares of the company’s stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $295.17, for a total value of $11,299,697.94. Following the sale, the vice president owned 66,343 shares in the company, valued at approximately $19,582,463.31. This represents a 36.59% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 54,302 shares of company stock worth $15,928,759. Corporate insiders own 1.92% of the company’s stock.

Analyst Upgrades and Downgrades

MOD has been the subject of a number of research analyst reports. DA Davidson reaffirmed a “buy” rating and issued a $330.00 target price on shares of Modine Manufacturing in a research note on Monday, June 22nd. Glj Research reissued a “buy” rating and issued a $428.00 price target on shares of Modine Manufacturing in a research note on Monday, June 1st. B. Riley Financial restated a “buy” rating and issued a $305.00 price target (down from $340.00) on shares of Modine Manufacturing in a report on Thursday, July 30th. Wall Street Zen cut Modine Manufacturing from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. Finally, Oppenheimer increased their price objective on Modine Manufacturing from $271.00 to $325.00 and gave the stock an “outperform” rating in a report on Thursday, May 28th. Seven research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price 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.