Mutual of America Capital Management LLC lifted its stake in Modine Manufacturing Company (NYSE:MOD – Free Report) by 25.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 67,876 shares of the auto parts company’s stock after purchasing an additional 13,640 shares during the period. Mutual of America Capital Management LLC’s holdings in Modine Manufacturing were worth $6,686,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently modified their holdings of the company. GAMMA Investing LLC lifted its position in shares of Modine Manufacturing by 63.1% in the 1st quarter. GAMMA Investing LLC now owns 367 shares of the auto parts company’s stock worth $28,000 after purchasing an additional 142 shares during the period. Maseco LLP purchased a new stake in shares of Modine Manufacturing in the 2nd quarter worth about $51,000. First Horizon Advisors Inc. lifted its position in shares of Modine Manufacturing by 442.4% in the 1st quarter. First Horizon Advisors Inc. now owns 640 shares of the auto parts company’s stock worth $49,000 after purchasing an additional 522 shares during the period. IFP Advisors Inc lifted its position in Modine Manufacturing by 14.2% during the 1st quarter. IFP Advisors Inc now owns 911 shares of the auto parts company’s stock valued at $70,000 after acquiring an additional 113 shares during the period. Finally, Banque Cantonale Vaudoise purchased a new position in Modine Manufacturing during the 1st quarter valued at about $92,000. 95.23% of the stock is owned by hedge funds and other institutional investors.
Modine Manufacturing Stock Up 2.6%
NYSE:MOD opened at $157.86 on Tuesday. The firm has a market cap of $8.29 billion, a P/E ratio of 45.23, a P/E/G ratio of 0.98 and a beta of 2.06. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.28 and a current ratio of 2.06. Modine Manufacturing Company has a fifty-two week low of $64.79 and a fifty-two week high of $164.89. The firm has a 50-day simple moving average of $145.08 and a two-hundred day simple moving average of $113.06.
Analysts Set New Price Targets
MOD has been the subject of a number of recent research reports. DA Davidson reissued a “buy” rating and set a $185.00 price target on shares of Modine Manufacturing in a research report on Monday, September 29th. Wall Street Zen cut shares of Modine Manufacturing from a “buy” rating to a “hold” rating in a research report on Saturday, August 2nd. KeyCorp lifted their price target on shares of Modine Manufacturing from $160.00 to $175.00 and gave the company an “overweight” rating in a research report on Tuesday, October 14th. Weiss Ratings reissued a “hold (c+)” rating on shares of Modine Manufacturing in a research report on Wednesday, October 8th. Finally, Oppenheimer lifted their price target on shares of Modine Manufacturing from $145.00 to $180.00 and gave the company an “outperform” rating in a research report on Tuesday, October 14th. Three equities 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.com, Modine Manufacturing currently has an average rating of “Moderate Buy” and an average target price of $180.00.
Read Our Latest Report on Modine Manufacturing
Insider Transactions at Modine Manufacturing
In other news, insider Eric S. Mcginnis sold 25,173 shares of Modine Manufacturing stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $140.86, for a total value of $3,545,868.78. Following the completion of the sale, the insider directly owned 19,966 shares in the company, valued at $2,812,410.76. The trade was a 55.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Marsha C. Williams sold 25,761 shares of Modine Manufacturing stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $134.77, for a total transaction of $3,471,809.97. Following the completion of the sale, the director owned 120,689 shares of the company’s stock, valued at $16,265,256.53. This represents a 17.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 239,938 shares of company stock valued at $31,001,392. Company insiders own 2.48% of the company’s stock.
Modine Manufacturing Company Profile
Modine Manufacturing Company provides thermal management products and solutions in the United States, Italy, Hungary, China, the United Kingdom, and internationally. It operates through Climate Solutions and Performance Technologies segments. The company offers heat transfer coils, including heat recovery and round tube plate fin coils; gas-fired, hydronic, electric and oilfired unit heaters; roof-mounted direct- and indirect-fired makeup air units; duct furnaces; infrared units; perimeter heating products; single packaged unit ventilators; modular chillers; air handler and condensing units; ceiling cassettes; evaporator unit coolers, remote condensers, fluid coolers, gas coolers, and dry and brine coolers; and motor and generator cooling coils, transformer oil coolers, radiators, dryers, and industrial heat exchangers.
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