Modine Manufacturing Company $MOD Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC cut its holdings in shares of Modine Manufacturing Company (NYSE:MOD) by 22.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 49,031 shares of the auto parts company’s stock after selling 14,133 shares during the quarter. SG Americas Securities LLC’s holdings in Modine Manufacturing were worth $10,626,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Capital Research Global Investors purchased a new stake in Modine Manufacturing in the 3rd quarter valued at about $184,610,000. Invesco Ltd. boosted its position in shares of Modine Manufacturing by 120.4% in the fourth quarter. Invesco Ltd. now owns 1,318,529 shares of the auto parts company’s stock worth $176,037,000 after acquiring an additional 720,389 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Modine Manufacturing by 31.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,333,174 shares of the auto parts company’s stock worth $311,503,000 after acquiring an additional 560,131 shares during the last quarter. WT Asset Management Ltd purchased a new stake in Modine Manufacturing in the fourth quarter valued at approximately $69,255,000. Finally, Norges Bank purchased a new stake in Modine Manufacturing in the fourth quarter valued at approximately $58,309,000. 95.23% of the stock is owned by institutional investors and hedge funds.

Modine Manufacturing Trading Down 9.8%

NYSE MOD opened at $255.80 on Friday. The firm has a market capitalization of $13.51 billion, a price-to-earnings ratio of 114.20, a PEG ratio of 0.92 and a beta of 1.65. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.25 and a current ratio of 1.94. Modine Manufacturing Company has a one year low of $86.48 and a one year high of $323.25. The company’s 50 day moving average price is $270.27 and its 200 day moving average price is $213.85.

Modine Manufacturing (NYSE:MOD) last released its quarterly earnings data on Tuesday, May 26th. The auto parts company reported $1.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.51 by $0.20. Modine Manufacturing had a net margin of 3.82% and a return on equity of 24.39%. The company had revenue of $954.40 million during the quarter, compared to the consensus estimate of $920.67 million. During the same period in the previous year, the firm earned $1.12 earnings per share. Modine Manufacturing’s revenue for the quarter was up 47.5% on a year-over-year basis. On average, sell-side analysts predict that Modine Manufacturing Company will post 7.73 EPS for the current year.

Insider Activity at Modine Manufacturing

In other Modine Manufacturing news, insider Eric S. Mcginnis sold 1,020 shares of the firm’s stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $295.06, for a total value of $300,961.20. Following the transaction, the insider directly owned 28,364 shares of the company’s stock, valued at $8,369,081.84. This trade represents a 3.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Eric D. Ashleman sold 15,000 shares of the firm’s stock in a transaction dated 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 directly owned 42,350 shares in the company, valued at $12,219,669. This trade represents a 26.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 54,302 shares of company stock worth $15,928,759. 2.48% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have weighed in on MOD. KeyCorp increased their price target on shares of Modine Manufacturing from $250.00 to $370.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 27th. Weiss Ratings upgraded Modine Manufacturing from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, May 28th. Oppenheimer increased their target price on Modine Manufacturing from $271.00 to $325.00 and gave the stock an “outperform” rating in a research report on Thursday, May 28th. Wall Street Zen upgraded Modine Manufacturing from a “hold” rating to a “buy” rating in a report on Saturday, May 30th. Finally, DA Davidson reissued a “buy” rating and set a $330.00 price target on shares of Modine Manufacturing in a research report on Monday, June 22nd. Seven 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, the company has a consensus rating of “Moderate Buy” and a consensus target price of $327.14.

Modine Manufacturing 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.