Impax Asset Management Group plc Has $5.69 Million Position in Modine Manufacturing Company $MOD

Impax Asset Management Group plc decreased its position in Modine Manufacturing Company (NYSE:MOD) by 33.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 40,000 shares of the auto parts company’s stock after selling 20,000 shares during the quarter. Impax Asset Management Group plc owned approximately 0.08% of Modine Manufacturing worth $5,686,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of MOD. Parkside Financial Bank & Trust lifted its position in Modine Manufacturing by 17.6% during the 3rd quarter. Parkside Financial Bank & Trust now owns 500 shares of the auto parts company’s stock worth $71,000 after acquiring an additional 75 shares during the last quarter. Handelsbanken Fonder AB increased its stake in shares of Modine Manufacturing by 0.8% in the second quarter. Handelsbanken Fonder AB now owns 13,100 shares of the auto parts company’s stock worth $1,290,000 after purchasing an additional 100 shares during the period. BCS Private Wealth Management Inc. lifted its position in shares of Modine Manufacturing by 2.8% during the 3rd quarter. BCS Private Wealth Management Inc. now owns 4,525 shares of the auto parts company’s stock worth $643,000 after purchasing an additional 125 shares during the last quarter. Vanguard Personalized Indexing Management LLC boosted its stake in Modine Manufacturing by 3.7% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 4,602 shares of the auto parts company’s stock valued at $453,000 after purchasing an additional 165 shares during the period. Finally, Arizona State Retirement System grew its holdings in Modine Manufacturing by 1.2% in the 3rd quarter. Arizona State Retirement System now owns 14,752 shares of the auto parts company’s stock valued at $2,097,000 after buying an additional 176 shares during the last quarter. 95.23% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on MOD shares. UBS Group initiated coverage on Modine Manufacturing in a report on Thursday, November 20th. They set a “buy” rating and a $173.00 price target for the company. Oppenheimer boosted their price objective on shares of Modine Manufacturing from $220.00 to $240.00 and gave the stock an “outperform” rating in a report on Friday, February 6th. Weiss Ratings reiterated a “hold (c)” rating on shares of Modine Manufacturing in a research note on Monday, December 29th. DA Davidson boosted their price target on Modine Manufacturing from $255.00 to $265.00 and gave the company a “buy” rating in a research note on Monday. Finally, Zacks Research raised shares of Modine Manufacturing from a “hold” rating to a “strong-buy” rating in a report on Friday, January 30th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $213.25.

Insider Activity

In other news, CEO Neil David Brinker sold 31,871 shares of the company’s stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $160.56, for a total transaction of $5,117,207.76. Following the transaction, the chief executive officer directly owned 238,312 shares in the company, valued at approximately $38,263,374.72. This represents a 11.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Suresh V. Garimella sold 1,100 shares of the stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $184.07, for a total transaction of $202,477.00. Following the sale, the director directly owned 79,856 shares in the company, valued at $14,699,093.92. This trade represents a 1.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 34,071 shares of company stock worth $5,484,685. 2.48% of the stock is owned by corporate insiders.

Modine Manufacturing Stock Performance

NYSE:MOD opened at $219.72 on Thursday. The stock has a market capitalization of $11.59 billion, a P/E ratio of 122.07, a price-to-earnings-growth ratio of 1.34 and a beta of 1.71. The company has a current ratio of 2.19, a quick ratio of 1.28 and a debt-to-equity ratio of 0.51. Modine Manufacturing Company has a 1 year low of $64.79 and a 1 year high of $235.02. The firm has a 50 day moving average of $152.26 and a 200-day moving average of $147.67.

Modine Manufacturing (NYSE:MOD) last released its quarterly earnings results on Wednesday, February 4th. The auto parts company reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.20. Modine Manufacturing had a return on equity of 22.99% and a net margin of 3.40%.The business had revenue of $805.00 million for the quarter, compared to analyst estimates of $763.54 million. During the same period in the prior year, the company earned $0.92 EPS. Modine Manufacturing’s revenue for the quarter was up 30.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Modine Manufacturing Company will post 3.88 EPS for the current fiscal year.

Modine Manufacturing Company 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.