Raiffeisen Bank International AG purchased a new position in shares of Modine Manufacturing Company (NYSE:MOD – Free Report) during the 2nd quarter, Holdings Channel.com reports. The fund purchased 4,000 shares of the auto parts company’s stock, valued at approximately $1,025,000.
A number of other institutional investors have also modified their holdings of the stock. V Square Quantitative Management LLC purchased a new stake in shares of Modine Manufacturing in the first quarter worth about $25,000. Kemnay Advisory Services Inc. acquired a new position in Modine Manufacturing in the fourth quarter valued at approximately $25,000. Sunbelt Securities Inc. purchased a new position in shares of Modine Manufacturing during the 3rd quarter valued at approximately $39,000. Rakuten Securities Inc. purchased a new position in shares of Modine Manufacturing during the 2nd quarter valued at approximately $40,000. Finally, PenderFund Capital Management Ltd. acquired a new position in shares of Modine Manufacturing in the 2nd quarter valued at $42,000. Hedge funds and other institutional investors own 95.23% of the company’s stock.
Insider Buying and Selling at Modine Manufacturing
In other news, VP Brian Agen sold 38,282 shares of the stock in a transaction 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 directly owned 66,343 shares in the company, valued at approximately $19,582,463.31. This trade represents a 36.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Eric D. Ashleman sold 15,000 shares of Modine Manufacturing stock in a transaction 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 transaction, the director owned 42,350 shares of the company’s stock, valued at approximately $12,219,669. This trade represents a 26.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 54,302 shares of company stock valued at $15,928,759 in the last 90 days. Company insiders own 1.92% of the company’s stock.
Analyst Ratings Changes
Read Our Latest Stock Analysis on MOD
Modine Manufacturing Stock Up 4.2%
Shares of MOD opened at $194.54 on Friday. The stock has a market capitalization of $10.33 billion, a PE ratio of 73.14, a P/E/G ratio of 0.64 and a beta of 1.74. Modine Manufacturing Company has a 1 year low of $111.18 and a 1 year high of $323.25. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.22 and a current ratio of 2.04. The company’s 50-day simple moving average is $212.71 and its 200-day simple moving average is $234.22.
Modine Manufacturing (NYSE:MOD – Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The auto parts company reported $1.53 earnings per share for the quarter, beating analysts’ consensus estimates of $1.27 by $0.26. Modine Manufacturing had a net margin of 4.28% and a return on equity of 25.59%. The firm had revenue of $874.10 million during the quarter, compared to analysts’ expectations of $878.69 million. During the same quarter in the previous year, the business posted $0.95 earnings per share. The business’s quarterly revenue was up 28.0% compared to the same quarter last year. Analysts forecast that Modine Manufacturing Company will post 7.65 earnings per share 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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