Handelsbanken Fonder AB Acquires Shares of 13,100 Modine Manufacturing (NYSE:MOD)

Handelsbanken Fonder AB bought a new stake in Modine Manufacturing (NYSE:MOD) during the 4th quarter, HoldingsChannel.com reports. The institutional investor bought 13,100 shares of the auto parts company’s stock, valued at approximately $782,000.

Several other hedge funds have also recently made changes to their positions in the company. Livforsakringsbolaget Skandia Omsesidigt raised its stake in Modine Manufacturing by 159.0% in the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 21,500 shares of the auto parts company’s stock valued at $1,284,000 after acquiring an additional 13,200 shares during the period. Cookson Peirce & Co. Inc. purchased a new stake in shares of Modine Manufacturing during the 4th quarter valued at approximately $203,000. DGS Capital Management LLC bought a new position in Modine Manufacturing in the 4th quarter worth approximately $261,000. Mackenzie Financial Corp purchased a new position in Modine Manufacturing in the 4th quarter valued at approximately $261,000. Finally, Strs Ohio raised its holdings in Modine Manufacturing by 28.6% during the 4th quarter. Strs Ohio now owns 3,600 shares of the auto parts company’s stock valued at $214,000 after acquiring an additional 800 shares during the period. 95.23% of the stock is currently owned by institutional investors.

Modine Manufacturing Trading Down 1.2 %

Modine Manufacturing stock opened at $95.60 on Tuesday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.21 and a current ratio of 1.93. Modine Manufacturing has a fifty-two week low of $19.41 and a fifty-two week high of $106.01. The stock has a market cap of $4.99 billion, a P/E ratio of 22.55, a PEG ratio of 0.74 and a beta of 2.29. The firm’s fifty day moving average price is $90.41 and its 200-day moving average price is $68.33.

Modine Manufacturing (NYSE:MOD) last announced its earnings results on Tuesday, January 30th. The auto parts company reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.17. Modine Manufacturing had a return on equity of 25.28% and a net margin of 9.31%. The business had revenue of $561.40 million for the quarter, compared to analyst estimates of $594.84 million. During the same period in the prior year, the company earned $0.48 EPS. The company’s quarterly revenue was up .2% compared to the same quarter last year. Equities research analysts forecast that Modine Manufacturing will post 3.27 earnings per share for the current fiscal year.

Insider Transactions at Modine Manufacturing

In related news, CFO Michael B. Lucareli sold 82,312 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $90.33, for a total value of $7,435,242.96. Following the sale, the chief financial officer now directly owns 194,587 shares of the company’s stock, valued at $17,577,043.71. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Christopher William Patterson sold 14,225 shares of Modine Manufacturing stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $90.56, for a total transaction of $1,288,216.00. Following the completion of the sale, the director now directly owns 97,517 shares of the company’s stock, valued at approximately $8,831,139.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Michael B. Lucareli sold 82,312 shares of the company’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $90.33, for a total transaction of $7,435,242.96. Following the completion of the transaction, the chief financial officer now owns 194,587 shares of the company’s stock, valued at $17,577,043.71. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 113,336 shares of company stock valued at $10,330,115. 2.86% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

MOD has been the subject of a number of analyst reports. Oppenheimer began coverage on Modine Manufacturing in a report on Tuesday, March 19th. They issued an “outperform” rating and a $105.00 price target for the company. StockNews.com downgraded Modine Manufacturing from a “buy” rating to a “hold” rating in a research note on Wednesday, January 31st. B. Riley reaffirmed a “buy” rating and set a $98.00 target price (up previously from $88.00) on shares of Modine Manufacturing in a report on Tuesday, February 27th. Finally, DA Davidson reissued a “buy” rating and issued a $90.00 price target on shares of Modine Manufacturing in a report on Tuesday, February 27th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $97.67.

Modine Manufacturing Company 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.