Gibbs Wealth Management Acquires New Shares in Modine Manufacturing Company $MOD

Gibbs Wealth Management bought a new position in shares of Modine Manufacturing Company (NYSE:MOD) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 4,500 shares of the auto parts company’s stock, valued at approximately $640,000.

Several other institutional investors also recently modified their holdings of the stock. Teacher Retirement System of Texas boosted its stake in Modine Manufacturing by 9.5% during the 3rd quarter. Teacher Retirement System of Texas now owns 8,307 shares of the auto parts company’s stock worth $1,181,000 after acquiring an additional 724 shares during the last quarter. Parkside Financial Bank & Trust raised its holdings in Modine Manufacturing by 17.6% in the third quarter. Parkside Financial Bank & Trust now owns 500 shares of the auto parts company’s stock worth $71,000 after purchasing an additional 75 shares during the period. Strs Ohio boosted its position in shares of Modine Manufacturing by 22.0% during the third quarter. Strs Ohio now owns 6,100 shares of the auto parts company’s stock worth $867,000 after purchasing an additional 1,100 shares in the last quarter. Emerald Mutual Fund Advisers Trust boosted its position in shares of Modine Manufacturing by 26.1% during the third quarter. Emerald Mutual Fund Advisers Trust now owns 234,076 shares of the auto parts company’s stock worth $33,276,000 after purchasing an additional 48,506 shares in the last quarter. Finally, Emerald Advisers LLC grew its holdings in shares of Modine Manufacturing by 21.4% in the 3rd quarter. Emerald Advisers LLC now owns 391,719 shares of the auto parts company’s stock valued at $55,687,000 after buying an additional 69,162 shares during the period. 95.23% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MOD has been the topic of several research analyst reports. DA Davidson reaffirmed a “buy” rating and set a $200.00 price objective on shares of Modine Manufacturing in a research note on Wednesday, November 19th. Oppenheimer raised their price target on Modine Manufacturing from $145.00 to $180.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 14th. Zacks Research lowered Modine Manufacturing from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 29th. UBS Group began coverage on Modine Manufacturing in a research note on Thursday, November 20th. They set a “buy” rating and a $173.00 target price for the company. Finally, KeyCorp boosted their target price on Modine Manufacturing from $160.00 to $175.00 and gave the company an “overweight” rating in a research note on Tuesday, October 14th. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $182.00.

Modine Manufacturing Stock Performance

Shares of MOD opened at $146.13 on Friday. The company has a market cap of $7.69 billion, a PE ratio of 42.23, a price-to-earnings-growth ratio of 0.93 and a beta of 1.70. The firm has a 50-day moving average of $141.67 and a 200-day moving average of $139.02. Modine Manufacturing Company has a one year low of $64.79 and a one year high of $166.94. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.00 and a quick ratio of 1.16.

Modine Manufacturing (NYSE:MOD) last issued its earnings results on Tuesday, October 28th. The auto parts company reported $1.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.09. Modine Manufacturing had a net margin of 6.93% and a return on equity of 23.19%. The company had revenue of $738.90 million for the quarter, compared to analysts’ expectations of $699.91 million. During the same period in the prior year, the firm earned $0.97 EPS. Modine Manufacturing’s quarterly revenue was up 12.3% compared to the same quarter last year. As a group, equities analysts forecast that Modine Manufacturing Company will post 3.88 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Suresh V. Garimella sold 1,100 shares of the business’s stock in a transaction that occurred on Thursday, January 22nd. The stock was sold at an average price of $150.00, for a total transaction of $165,000.00. Following the transaction, the director directly owned 80,956 shares of the company’s stock, valued at approximately $12,143,400. The trade was a 1.34% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Neil David Brinker sold 31,871 shares of the firm’s stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $160.56, for a total value of $5,117,207.76. Following the sale, the chief executive officer directly owned 238,312 shares of the company’s stock, valued at $38,263,374.72. This represents a 11.80% decrease in their position. The SEC filing for this sale provides additional information. 2.48% of the stock is currently owned by insiders.

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.