State of Wyoming Makes New $668,000 Investment in Modine Manufacturing Company $MOD

State of Wyoming acquired a new position in Modine Manufacturing Company (NYSE:MOD) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 2,503 shares of the auto parts company’s stock, valued at approximately $668,000.

Other institutional investors have also recently modified their holdings of the company. Invesco Ltd. lifted its position in Modine Manufacturing by 120.4% in the 4th quarter. Invesco Ltd. now owns 1,318,529 shares of the auto parts company’s stock worth $176,037,000 after buying an additional 720,389 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in Modine Manufacturing by 31.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,333,174 shares of the auto parts company’s stock valued at $311,503,000 after acquiring an additional 560,131 shares during the last quarter. WT Asset Management Ltd purchased a new position in shares of Modine Manufacturing during the fourth quarter worth approximately $69,255,000. Janus Henderson Group PLC raised its stake in shares of Modine Manufacturing by 2,249.9% during the first quarter. Janus Henderson Group PLC now owns 523,507 shares of the auto parts company’s stock worth $113,459,000 after acquiring an additional 501,229 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Modine Manufacturing in the 4th quarter worth approximately $58,309,000. 95.23% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Modine Manufacturing news, VP Brian Jon Agen sold 38,282 shares of the company’s stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $295.17, for a total value of $11,299,697.94. Following the completion of the transaction, the vice president directly owned 66,343 shares in the company, valued at approximately $19,582,463.31. This represents a 36.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 the company’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 completion of the transaction, the director owned 42,350 shares of the company’s stock, 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. Insiders sold 54,302 shares of company stock valued at $15,928,759 over the last quarter. 1.92% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on MOD shares. DA Davidson reaffirmed a “buy” rating and set a $330.00 target price on shares of Modine Manufacturing in a report on Monday, June 22nd. Glj Research reissued a “buy” rating and issued a $428.00 price target on shares of Modine Manufacturing in a research note on Monday, June 1st. KeyCorp cut their price target on shares of Modine Manufacturing from $370.00 to $280.00 and set an “overweight” rating for the company in a research report on Thursday, July 30th. Weiss Ratings upgraded Modine Manufacturing from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, May 28th. Finally, Oppenheimer boosted their target price on Modine Manufacturing from $271.00 to $325.00 and gave the company an “outperform” rating in a research note on Thursday, May 28th. Seven investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $320.14.

Modine Manufacturing Trading Up 0.1%

MOD opened at $209.67 on Monday. Modine Manufacturing Company has a one year low of $111.18 and a one year high of $323.25. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.04 and a quick ratio of 1.22. The business has a 50 day simple moving average of $239.57 and a two-hundred day simple moving average of $235.26. The firm has a market capitalization of $11.14 billion, a price-to-earnings ratio of 78.82, a PEG ratio of 0.68 and a beta of 1.71.

Modine Manufacturing (NYSE:MOD) last issued its quarterly earnings data on Tuesday, July 28th. The auto parts company reported $1.53 earnings per share for the quarter, topping analysts’ consensus estimates of $1.27 by $0.26. Modine Manufacturing had a return on equity of 25.59% and a net margin of 4.28%.The firm had revenue of $874.10 million for the quarter, compared to analyst estimates of $878.69 million. During the same period last year, the company earned $0.95 EPS. The business’s quarterly revenue was up 28.0% compared to the same quarter last year. Analysts predict that Modine Manufacturing Company will post 7.65 EPS for the current 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.