Hsbc Holdings PLC boosted its position in Modine Manufacturing Company (NYSE:MOD – Free Report) by 113.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,086 shares of the auto parts company’s stock after buying an additional 2,705 shares during the period. Hsbc Holdings PLC’s holdings in Modine Manufacturing were worth $679,000 as of its most recent SEC filing.
Several other institutional investors also recently bought and sold shares of MOD. Perigon Wealth Management LLC increased its stake in shares of Modine Manufacturing by 583.1% during the fourth quarter. Perigon Wealth Management LLC now owns 15,171 shares of the auto parts company’s stock worth $2,025,000 after acquiring an additional 12,950 shares during the period. Congress Asset Management Co. raised its holdings in Modine Manufacturing by 7.8% during the fourth quarter. Congress Asset Management Co. now owns 568,853 shares of the auto parts company’s stock worth $75,948,000 after purchasing an additional 41,373 shares in the last quarter. Van Berkom & Associates Inc. lifted its position in Modine Manufacturing by 3,145.2% in the fourth quarter. Van Berkom & Associates Inc. now owns 436,084 shares of the auto parts company’s stock valued at $58,222,000 after purchasing an additional 422,646 shares during the period. Penn Capital Management Company LLC acquired a new stake in Modine Manufacturing in the third quarter valued at about $14,925,000. Finally, WT Asset Management Ltd purchased a new stake in Modine Manufacturing in the 4th quarter valued at approximately $69,255,000. 95.23% of the stock is owned by institutional investors and hedge funds.
Modine Manufacturing Trading Up 1.1%
Shares of Modine Manufacturing stock opened at $232.19 on Thursday. The company has a 50-day moving average of $267.64 and a two-hundred day moving average of $223.20. Modine Manufacturing Company has a 12-month low of $88.76 and a 12-month high of $323.25. The company has a current ratio of 1.94, a quick ratio of 1.25 and a debt-to-equity ratio of 0.32. The stock has a market cap of $12.33 billion, a PE ratio of 103.66, a price-to-earnings-growth ratio of 0.74 and a beta of 1.67.
Insiders Place Their Bets
In other Modine Manufacturing news, Director Eric D. Ashleman sold 15,000 shares of the business’s stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $288.54, for a total transaction of $4,328,100.00. Following the sale, the director directly owned 42,350 shares in the company, valued at approximately $12,219,669. The trade was a 26.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Eric S. Mcginnis sold 1,020 shares of the company’s stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $295.06, for a total value of $300,961.20. Following the completion of the sale, the insider directly owned 28,364 shares in the company, valued at $8,369,081.84. This trade represents a 3.47% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 54,302 shares of company stock worth $15,928,759. 2.48% of the stock is owned by corporate insiders.
Analysts Set New Price Targets
Several equities analysts have issued reports on the company. B. Riley Financial boosted their target price on Modine Manufacturing from $250.00 to $264.00 and gave the stock a “buy” rating in a research report on Tuesday, May 26th. Weiss Ratings raised Modine Manufacturing from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, May 28th. Glj Research restated a “buy” rating and issued a $428.00 price target on shares of Modine Manufacturing in a research note on Monday, June 1st. KeyCorp upped their price objective on Modine Manufacturing from $250.00 to $370.00 and gave the stock an “overweight” rating in a report on Wednesday, May 27th. Finally, Zacks Research downgraded Modine Manufacturing from a “strong-buy” rating to a “hold” rating in a report on Monday, April 13th. Seven equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $327.14.
Get Our Latest Stock Analysis on Modine Manufacturing
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.
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