Sei Investments Co. Sells 28,955 Shares of Modine Manufacturing Company $MOD

Sei Investments Co. reduced its holdings in shares of Modine Manufacturing Company (NYSE:MOD) by 9.9% in the first quarter, according to its most recent filing with the SEC. The fund owned 264,463 shares of the auto parts company’s stock after selling 28,955 shares during the period. Sei Investments Co.’s holdings in Modine Manufacturing were worth $57,312,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of MOD. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Modine Manufacturing by 26.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,223 shares of the auto parts company’s stock worth $2,857,000 after purchasing an additional 7,831 shares during the last quarter. California Public Employees Retirement System grew its holdings in shares of Modine Manufacturing by 8.3% in 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 purchasing an additional 5,244 shares during the last quarter. State Street Corp grew its holdings in shares of Modine Manufacturing by 4.2% in the second quarter. State Street Corp now owns 1,309,488 shares of the auto parts company’s stock worth $128,985,000 after purchasing an additional 53,351 shares during the last quarter. Qube Research & Technologies Ltd increased 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 buying an additional 83,105 shares during the period. Finally, Squarepoint Ops LLC increased its stake in Modine Manufacturing by 78.4% in the 2nd quarter. Squarepoint Ops LLC now owns 175,108 shares of the auto parts company’s stock worth $17,248,000 after buying an additional 76,957 shares during the period. Hedge funds and other institutional investors own 95.23% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. B. Riley Financial boosted their price objective on shares of Modine Manufacturing from $250.00 to $264.00 and gave the company a “buy” rating in a research report on Tuesday, May 26th. UBS Group lifted their price target on shares of Modine Manufacturing to $310.00 and gave the company a “buy” rating in a research note on Wednesday, May 27th. Wall Street Zen lowered Modine Manufacturing from a “buy” rating to a “hold” rating in a report on Saturday. Glj Research reissued a “buy” rating and issued a $428.00 price objective on shares of Modine Manufacturing in a research note on Monday, June 1st. Finally, Zacks Research downgraded Modine Manufacturing from a “strong-buy” rating to a “hold” rating in a report on Monday, April 13th. Seven analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, Modine Manufacturing presently has an average rating of “Moderate Buy” and an average target price of $327.14.

Modine Manufacturing Trading Down 3.3%

NYSE MOD opened at $241.46 on Friday. Modine Manufacturing Company has a one year low of $98.90 and a one year high of $323.25. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.25 and a current ratio of 1.94. The company has a market capitalization of $12.82 billion, a price-to-earnings ratio of 107.80, a price-to-earnings-growth ratio of 0.78 and a beta of 1.67. The company’s 50-day simple moving average is $262.07 and its two-hundred day simple moving average is $227.62.

Modine Manufacturing (NYSE:MOD) last announced its quarterly earnings results on Tuesday, May 26th. The auto parts company reported $1.71 earnings per share 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 firm had revenue of $954.40 million during the quarter, compared to analysts’ expectations of $920.67 million. During the same quarter in the prior year, the company earned $1.12 EPS. The company’s revenue was up 47.5% compared to the same quarter last year. Equities analysts forecast that Modine Manufacturing Company will post 7.72 EPS for the current fiscal year.

Insiders Place Their Bets

In other Modine Manufacturing news, Director Eric D. Ashleman sold 15,000 shares of the 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 owned 42,350 shares of the company’s stock, valued at approximately $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 can be accessed through this hyperlink. Also, insider Eric S. Mcginnis sold 1,020 shares of Modine Manufacturing 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 transaction, the insider owned 28,364 shares in the company, valued at $8,369,081.84. This represents a 3.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 54,302 shares of company stock worth $15,928,759 over the last 90 days. Company insiders own 1.92% of the company’s stock.

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.