Modine Manufacturing Company $MOD Position Lessened by Moody National Bank Trust Division

Moody National Bank Trust Division reduced its stake in shares of Modine Manufacturing Company (NYSE:MOD) by 25.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,101 shares of the auto parts company’s stock after selling 7,516 shares during the quarter. Moody National Bank Trust Division’s holdings in Modine Manufacturing were worth $5,901,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Optiver Holding B.V. lifted its stake in Modine Manufacturing by 19.7% in the first quarter. Optiver Holding B.V. now owns 237 shares of the auto parts company’s stock valued at $51,000 after buying an additional 39 shares during the last quarter. World Investment Advisors boosted its holdings in shares of Modine Manufacturing by 4.1% during the first quarter. World Investment Advisors now owns 1,643 shares of the auto parts company’s stock valued at $356,000 after acquiring an additional 65 shares during the period. Xponance LLC grew its position in shares of Modine Manufacturing by 1.7% during the fourth quarter. Xponance LLC now owns 4,424 shares of the auto parts company’s stock worth $591,000 after acquiring an additional 75 shares during the last quarter. State of Alaska Department of Revenue grew its position in shares of Modine Manufacturing by 3.4% during the fourth quarter. State of Alaska Department of Revenue now owns 3,156 shares of the auto parts company’s stock worth $421,000 after acquiring an additional 103 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its holdings in shares of Modine Manufacturing by 6.1% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,780 shares of the auto parts company’s stock worth $386,000 after acquiring an additional 103 shares during the period. 95.23% of the stock is currently owned by institutional investors.

Modine Manufacturing Stock Performance

MOD opened at $202.04 on Wednesday. The business has a 50 day moving average price of $253.91 and a two-hundred day moving average price of $232.00. 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 company has a market capitalization of $10.73 billion, a price-to-earnings ratio of 75.96, a price-to-earnings-growth ratio of 0.64 and a beta of 1.71. Modine Manufacturing Company has a 1-year low of $111.18 and a 1-year high of $323.25.

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

Insider Activity at Modine Manufacturing

In other Modine Manufacturing news, VP Brian Jon Agen sold 38,282 shares of the business’s stock in a transaction dated 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 sale, the vice president directly owned 66,343 shares in the company, valued at approximately $19,582,463.31. The trade was a 36.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Eric S. Mcginnis sold 1,020 shares of the company’s stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $295.06, for a total transaction of $300,961.20. Following the completion of the sale, the insider directly owned 28,364 shares of the company’s stock, valued at $8,369,081.84. The trade was a 3.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 54,302 shares of company stock valued at $15,928,759 over the last 90 days. 1.92% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

MOD has been the topic of several recent research reports. Glj Research reiterated a “buy” rating and issued a $428.00 price objective on shares of Modine Manufacturing in a research report on Monday, June 1st. Zacks Research cut shares of Modine Manufacturing from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 13th. UBS Group raised 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. Oppenheimer lifted their price target on Modine Manufacturing from $271.00 to $325.00 and gave the company an “outperform” rating in a report on Thursday, May 28th. Finally, B. Riley Financial reaffirmed a “buy” rating and set a $305.00 price target (down from $340.00) on shares of Modine Manufacturing in a report on Thursday, July 30th. Seven equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $320.14.

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.