Swiss National Bank Sells 11,800 Shares of Modine Manufacturing (NYSE:MOD)

Swiss National Bank decreased its holdings in shares of Modine Manufacturing (NYSE:MOD) by 10.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 101,200 shares of the auto parts company’s stock after selling 11,800 shares during the period. Swiss National Bank owned about 0.19% of Modine Manufacturing worth $2,333,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. lifted its stake in Modine Manufacturing by 966.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,472 shares of the auto parts company’s stock worth $29,000 after purchasing an additional 1,334 shares during the period. Point72 Middle East FZE bought a new position in Modine Manufacturing during the fourth quarter worth about $31,000. Quantbot Technologies LP raised its stake in shares of Modine Manufacturing by 123.5% in the first quarter. Quantbot Technologies LP now owns 3,800 shares of the auto parts company’s stock valued at $34,000 after acquiring an additional 2,100 shares during the last quarter. Dorsey Wright & Associates bought a new position in shares of Modine Manufacturing in the fourth quarter valued at approximately $38,000. Finally, Tower Research Capital LLC TRC raised its stake in shares of Modine Manufacturing by 161.3% in the first quarter. Tower Research Capital LLC TRC now owns 1,680 shares of the auto parts company’s stock valued at $38,000 after acquiring an additional 1,037 shares during the last quarter. Institutional investors own 91.35% of the company’s stock.

Insider Transactions at Modine Manufacturing

In other news, Director Larry Oscar Moore sold 17,742 shares of Modine Manufacturing stock in a transaction on Thursday, June 22nd. The shares were sold at an average price of $31.58, for a total transaction of $560,292.36. Following the transaction, the director now directly owns 57,773 shares of the company’s stock, valued at $1,824,471.34. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CFO Michael B. Lucareli sold 37,746 shares of the company’s stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $45.95, for a total value of $1,734,428.70. Following the transaction, the chief financial officer now owns 293,012 shares in the company, valued at approximately $13,463,901.40. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Larry Oscar Moore sold 17,742 shares of the company’s stock in a transaction dated Thursday, June 22nd. The shares were sold at an average price of $31.58, for a total transaction of $560,292.36. Following the completion of the transaction, the director now owns 57,773 shares in the company, valued at approximately $1,824,471.34. The disclosure for this sale can be found here. Insiders have sold a total of 72,774 shares of company stock valued at $3,066,195 over the last three months. 2.86% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on MOD shares. DA Davidson lifted their target price on shares of Modine Manufacturing from $38.00 to $43.00 in a research note on Friday, June 23rd. StockNews.com started coverage on shares of Modine Manufacturing in a research note on Thursday, August 17th. They issued a “strong-buy” rating for the company. B. Riley lifted their target price on shares of Modine Manufacturing from $45.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, August 4th. Finally, CJS Securities started coverage on shares of Modine Manufacturing in a report on Tuesday, June 13th. They issued an “outperform” rating for the company. Four analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $43.33.

Modine Manufacturing Price Performance

MOD opened at $46.22 on Wednesday. The company has a fifty day moving average price of $40.21 and a two-hundred day moving average price of $29.91. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.11 and a current ratio of 1.76. Modine Manufacturing has a 52 week low of $12.85 and a 52 week high of $49.60. The firm has a market capitalization of $2.42 billion, a PE ratio of 13.36, a P/E/G ratio of 0.72 and a beta of 2.25.

Modine Manufacturing (NYSE:MOD) last released its earnings results on Wednesday, August 2nd. The auto parts company reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.42. The firm had revenue of $622.40 million during the quarter, compared to analyst estimates of $563.10 million. Modine Manufacturing had a net margin of 7.72% and a return on equity of 23.96%. As a group, analysts anticipate that Modine Manufacturing will post 2.72 earnings per share for the current year.

Modine Manufacturing Profile

Modine Manufacturing Company provides engineered heat transfer systems and heat transfer components for use in on- and off-highway original equipment manufacturer (OEM) vehicular applications. It operates through Climate Solutions and Performance Technologies segments. The company offers gas-fired, hydronic, electric, and oil-fired unit heaters; indoor and outdoor duct furnaces; infrared units; perimeter heating products, such as commercial fin-tube radiation, cabinet unit heaters, and convectors; roof-mounted direct- and indirect-fired makeup air units; unit ventilators; single packaged vertical units; precision air conditioning units for data center applications; air handler units; fan walls; chillers; ceiling cassettes; hybrid fan coils; and condensers and condensing units.