Legal & General Group Plc Buys Shares of 45,065 Modine Manufacturing Company $MOD

Legal & General Group Plc purchased a new stake in Modine Manufacturing Company (NYSE:MOD) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 45,065 shares of the auto parts company’s stock, valued at approximately $12,033,000.

Other institutional investors also recently modified their holdings of the company. The Manufacturers Life Insurance Company acquired a new position in shares of Modine Manufacturing during the 2nd quarter worth $4,478,000. Sone Capital Management LLC acquired a new stake in Modine Manufacturing in the second quarter valued at about $4,887,000. Front Street Capital Management Inc. bought a new position in Modine Manufacturing in the second quarter valued at about $19,090,000. Vega Investment Solutions bought a new position in Modine Manufacturing in the second quarter valued at about $52,000. Finally, Paradigm Capital Management Inc. NY acquired a new position in Modine Manufacturing during the second quarter worth about $388,140,000. Institutional investors and hedge funds own 95.23% of the company’s stock.

Insider Buying and Selling at Modine Manufacturing

In other news, Director Eric D. Ashleman sold 15,000 shares of Modine Manufacturing stock in a transaction dated Tuesday, June 16th. The stock was 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 of the company’s stock, valued at approximately $12,219,669. This trade represents a 26.16% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Eric S. Mcginnis sold 1,020 shares of the business’s stock in a transaction dated 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 directly 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. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 54,302 shares of company stock valued at $15,928,759. 1.92% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. DA Davidson reissued a “buy” rating and issued a $330.00 target price on shares of Modine Manufacturing in a report on Monday, June 22nd. 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. KeyCorp lowered their price objective 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 reissued a “hold (c)” rating on shares of Modine Manufacturing in a research note on Tuesday, August 25th. Finally, Wall Street Zen lowered shares of Modine Manufacturing from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. Seven analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, Modine Manufacturing presently has an average rating of “Moderate Buy” and a consensus price target of $320.14.

Modine Manufacturing Stock Up 0.9%

Modine Manufacturing stock opened at $179.15 on Tuesday. The firm has a market cap of $9.51 billion, a price-to-earnings ratio of 67.35, a PEG ratio of 0.58 and a beta of 1.71. Modine Manufacturing Company has a 52-week low of $111.18 and a 52-week high of $323.25. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.22 and a current ratio of 2.04. The firm has a 50 day moving average price of $219.73 and a two-hundred day moving average price of $235.25.

Modine Manufacturing (NYSE:MOD) last posted its quarterly earnings data on Wednesday, July 29th. The auto parts company reported $1.53 EPS for the quarter, beating analysts’ consensus estimates of $1.27 by $0.26. Modine Manufacturing had a net margin of 4.28% and a return on equity of 25.59%. The company had revenue of $874.10 million for the quarter, compared to analyst estimates of $878.69 million. During the same period in the prior year, the firm posted $0.95 EPS. The company’s quarterly revenue was up 28.0% on a year-over-year basis. Equities 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.