Union Bancaire Privee UBP SA Raises Stake in Modine Manufacturing Company $MOD

Union Bancaire Privee UBP SA grew its stake in Modine Manufacturing Company (NYSE:MOD) by 48.8% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,948 shares of the auto parts company’s stock after acquiring an additional 3,264 shares during the quarter. Union Bancaire Privee UBP SA’s holdings in Modine Manufacturing were worth $2,156,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Wellington Management Group LLP grew its holdings in shares of Modine Manufacturing by 4.7% in the fourth quarter. Wellington Management Group LLP now owns 2,879,299 shares of the auto parts company’s stock valued at $384,415,000 after purchasing an additional 130,511 shares during the period. Price T Rowe Associates Inc. MD increased 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 worth $311,503,000 after purchasing an additional 560,131 shares during the last quarter. Wasatch Advisors LP raised its stake in Modine Manufacturing by 1.4% during the second quarter. Wasatch Advisors LP now owns 1,792,413 shares of the auto parts company’s stock worth $176,553,000 after purchasing an additional 23,955 shares during the period. Capital Research Global Investors raised its stake in Modine Manufacturing by 13.8% during the fourth quarter. Capital Research Global Investors now owns 1,478,224 shares of the auto parts company’s stock worth $197,358,000 after purchasing an additional 179,617 shares during the period. Finally, Invesco Ltd. boosted its holdings 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 valued at $176,037,000 after purchasing an additional 720,389 shares during the last quarter. Hedge funds and other institutional investors own 95.23% of the company’s stock.

Modine Manufacturing Price Performance

Shares of MOD opened at $255.80 on Friday. The company has a market cap of $13.51 billion, a P/E ratio of 114.20, a PEG ratio of 0.83 and a beta of 1.65. Modine Manufacturing Company has a fifty-two week low of $86.48 and a fifty-two week high of $323.25. The company has a quick ratio of 1.25, a current ratio of 1.94 and a debt-to-equity ratio of 0.32. The firm’s 50 day moving average price is $270.27 and its 200 day moving average price is $213.85.

Modine Manufacturing (NYSE:MOD) last issued its quarterly earnings results on Tuesday, May 26th. The auto parts company reported $1.71 EPS for the quarter, beating 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 analysts’ expectations of $920.67 million. During the same quarter last year, the company posted $1.12 EPS. The firm’s revenue was up 47.5% compared to the same quarter last year. On average, research analysts forecast that Modine Manufacturing Company will post 7.73 earnings per share for the current fiscal year.

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 dated Thursday, June 18th. The stock was sold at an average price of $295.17, for a total transaction of $11,299,697.94. Following the sale, the vice president owned 66,343 shares in the company, valued at $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 is available through this link. 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 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 owned 42,350 shares of the company’s stock, valued at $12,219,669. The trade was a 26.16% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 54,302 shares of company stock valued at $15,928,759 in the last three months. 2.48% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms have recently weighed in on MOD. 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. UBS Group lifted their price target on shares of Modine Manufacturing to $310.00 and gave the company a “buy” rating in a research report on Wednesday, May 27th. KeyCorp upped their price objective on Modine Manufacturing from $250.00 to $370.00 and gave the company an “overweight” rating in a report on Wednesday, May 27th. B. Riley Financial increased their price objective on Modine Manufacturing from $250.00 to $264.00 and gave the stock a “buy” rating in a research report on Tuesday, May 26th. Finally, Oppenheimer raised their target price on Modine Manufacturing from $271.00 to $325.00 and gave the stock an “outperform” rating in a research note on Thursday, May 28th. Seven 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.com, the stock has an average rating of “Moderate Buy” and a consensus price target 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.