Modine Manufacturing Company $MOD Stake Cut by Fiera Capital Corp

by · The Markets Daily

Fiera Capital Corp lessened its holdings in shares of Modine Manufacturing Company (NYSE:MOD – Free Report) by 1.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 242,487 shares of the auto parts company’s stock after selling 4,763 shares during the quarter. Fiera Capital Corp owned approximately 0.46% of Modine Manufacturing worth $34,472,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. First Horizon Corp acquired a new stake in shares of Modine Manufacturing during the third quarter worth approximately $38,000. Toth Financial Advisory Corp purchased a new stake in Modine Manufacturing in the 3rd quarter worth approximately $57,000. Parkside Financial Bank & Trust boosted its stake in shares of Modine Manufacturing by 2,025.0% during the 2nd quarter. Parkside Financial Bank & Trust now owns 425 shares of the auto parts company’s stock valued at $42,000 after buying an additional 405 shares during the period. AdvisorShares Investments LLC grew its holdings in shares of Modine Manufacturing by 154.0% during the 3rd quarter. AdvisorShares Investments LLC now owns 475 shares of the auto parts company’s stock valued at $68,000 after acquiring an additional 288 shares in the last quarter. Finally, Elevation Point Wealth Partners LLC purchased a new position in shares of Modine Manufacturing during the 2nd quarter valued at $57,000. Institutional investors and hedge funds own 95.23% of the company’s stock.

Insiders Place Their Bets

In other Modine Manufacturing news, Director Suresh V. Garimella sold 1,100 shares of the business’s stock in a transaction 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 completion of the transaction, the director owned 79,856 shares of the company’s stock, valued at $14,699,093.92. The trade was a 1.36% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Neil David Brinker sold 31,871 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer owned 238,312 shares of the company’s stock, valued at $38,263,374.72. This trade represents a 11.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 34,071 shares of company stock valued at $5,484,685 over the last 90 days. 2.48% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on MOD shares. Roth Mkm began coverage on Modine Manufacturing in a report on Wednesday. They set a “buy” rating and a $263.00 price objective for the company. UBS Group began coverage on Modine Manufacturing in a research note on Thursday, November 20th. They set a “buy” rating and a $173.00 price target for the company. Oppenheimer lifted their price target on Modine Manufacturing from $220.00 to $240.00 and gave the company an “outperform” rating in a report on Friday, February 6th. Wall Street Zen upgraded Modine Manufacturing from a “hold” rating to a “buy” rating in a report on Saturday, February 14th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Modine Manufacturing in a research report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $223.20.

Get Our Latest Stock Analysis on MOD

Modine Manufacturing Stock Performance

Shares of NYSE MOD opened at $226.50 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.28 and a current ratio of 2.19. The firm has a market cap of $11.94 billion, a price-to-earnings ratio of 125.84, a P/E/G ratio of 1.33 and a beta of 1.71. The business’s 50-day simple moving average is $160.89 and its 200-day simple moving average is $152.14. Modine Manufacturing Company has a 52 week low of $64.79 and a 52 week high of $235.02.

Modine Manufacturing (NYSE:MOD – Get Free Report) last issued its quarterly earnings data on Wednesday, February 4th. The auto parts company reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.20. The business had revenue of $805.00 million for the quarter, compared to the consensus estimate of $763.54 million. Modine Manufacturing had a return on equity of 22.99% and a net margin of 3.40%.The firm’s revenue was up 30.5% compared to the same quarter last year. During the same period last year, the business earned $0.92 EPS. As a group, equities research analysts expect that Modine Manufacturing Company will post 3.88 earnings per share for the current fiscal year.

About Modine Manufacturing

(Free Report)

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.

See Also