Vise Technologies Inc. purchased a new position in shares of Modine Manufacturing Company (NYSE:MOD – Free Report) during the 2nd quarter, Holdings Channel.com reports. The institutional investor purchased 3,543 shares of the auto parts company’s stock, valued at approximately $946,000.
Other hedge funds and other institutional investors have also modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Modine Manufacturing by 26.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,223 shares of the auto parts company’s stock valued at $2,857,000 after buying an additional 7,831 shares during the last quarter. California Public Employees Retirement System boosted its position in Modine Manufacturing by 8.3% during the second quarter. California Public Employees Retirement System now owns 68,702 shares of the auto parts company’s stock worth $6,767,000 after acquiring an additional 5,244 shares during the last quarter. State Street Corp boosted its position in Modine Manufacturing by 4.2% during the second quarter. State Street Corp now owns 1,309,488 shares of the auto parts company’s stock worth $128,985,000 after acquiring an additional 53,351 shares during the last quarter. Qube Research & Technologies Ltd grew its stake in Modine Manufacturing by 106.3% in the 2nd quarter. Qube Research & Technologies Ltd now owns 161,319 shares of the auto parts company’s stock worth $15,890,000 after acquiring an additional 83,105 shares during the period. Finally, Sei Investments Co. raised its holdings in Modine Manufacturing by 70.8% in the 2nd quarter. Sei Investments Co. now owns 309,653 shares of the auto parts company’s stock valued at $30,501,000 after acquiring an additional 128,348 shares during the last quarter. 95.23% of the stock is currently owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In other Modine Manufacturing news, Director Eric D. Ashleman sold 15,000 shares of the firm’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 transaction, the director directly owned 42,350 shares of the company’s stock, valued at $12,219,669. This trade represents a 26.16% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Brian Jon Agen sold 38,282 shares of the company’s stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $295.17, for a total transaction of $11,299,697.94. Following the completion of the sale, the vice president owned 66,343 shares in the company, valued at approximately $19,582,463.31. This trade represents a 36.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 54,302 shares of company stock valued at $15,928,759 in the last ninety days. Corporate insiders own 1.92% of the company’s stock.
Analyst Upgrades and Downgrades
Get Our Latest Stock Report on MOD
Modine Manufacturing Trading Up 3.8%
NYSE MOD opened at $198.03 on Friday. The company has a current ratio of 2.04, a quick ratio of 1.22 and a debt-to-equity ratio of 0.39. The company’s fifty day simple moving average is $232.44 and its 200-day simple moving average is $236.03. The stock has a market cap of $10.52 billion, a P/E ratio of 74.45, a PEG ratio of 0.65 and a beta of 1.71. Modine Manufacturing Company has a 52 week low of $111.18 and a 52 week high of $323.25.
Modine Manufacturing (NYSE:MOD – Get Free Report) last announced its earnings results on Wednesday, July 29th. The auto parts company reported $1.53 earnings per share for the quarter, beating the consensus estimate 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 return on equity of 25.59% and a net margin of 4.28%.The company’s revenue was up 28.0% on a year-over-year basis. During the same period last year, the firm earned $0.95 earnings per share. Equities research analysts predict 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.
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