8,342 Shares in Modine Manufacturing Company $MOD Bought by Groupe la Francaise

Groupe la Francaise purchased a new position in shares of Modine Manufacturing Company (NYSE:MOD) in the 2nd quarter, HoldingsChannel reports. The institutional investor purchased 8,342 shares of the auto parts company’s stock, valued at approximately $2,229,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Modine Manufacturing in the 2nd quarter valued at $1,816,000. California State Teachers Retirement System lifted its stake in shares of Modine Manufacturing by 26,352.0% in the 2nd quarter. California State Teachers Retirement System now owns 15,536,826 shares of the auto parts company’s stock worth $4,148,643,000 after acquiring an additional 15,478,090 shares during the period. Ameritas Advisory Services LLC acquired a new stake in shares of Modine Manufacturing in the 2nd quarter worth $2,621,000. HB Wealth Management LLC boosted its holdings in shares of Modine Manufacturing by 89.9% in the second quarter. HB Wealth Management LLC now owns 2,224 shares of the auto parts company’s stock valued at $594,000 after acquiring an additional 1,053 shares in the last quarter. Finally, AlphaGrep UK Ltd purchased a new stake in shares of Modine Manufacturing in the second quarter valued at about $243,000. 95.23% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Modine Manufacturing

In related news, insider Eric S. Mcginnis sold 1,020 shares of the firm’s stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $295.06, for a total value of $300,961.20. Following the completion of the transaction, the insider directly owned 28,364 shares of the company’s stock, valued at $8,369,081.84. This trade represents a 3.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Eric D. Ashleman sold 15,000 shares of Modine Manufacturing stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $288.54, for a total value of $4,328,100.00. Following the transaction, the director directly owned 42,350 shares of the company’s stock, valued at approximately $12,219,669. This represents a 26.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 54,302 shares of company stock valued at $15,928,759 in the last quarter. 1.92% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts recently issued reports on MOD shares. Weiss Ratings reissued a “hold (c)” rating on shares of Modine Manufacturing in a report on Tuesday, August 25th. KeyCorp reaffirmed an “overweight” rating and issued a $280.00 price objective on shares of Modine Manufacturing in a report on Wednesday, September 2nd. DA Davidson reiterated a “buy” rating and set a $330.00 target price on shares of Modine Manufacturing in a research report on Monday, June 22nd. Wall Street Zen downgraded Modine Manufacturing from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. Finally, Oppenheimer raised their price target on Modine Manufacturing from $271.00 to $325.00 and gave the company an “outperform” rating in a report on Thursday, May 28th. Seven analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, Modine Manufacturing presently has an average rating of “Moderate Buy” and a consensus target price of $320.14.

Modine Manufacturing Stock Performance

Shares of MOD opened at $194.54 on Tuesday. The company has a quick ratio of 1.22, a current ratio of 2.04 and a debt-to-equity ratio of 0.39. Modine Manufacturing Company has a 52-week low of $111.18 and a 52-week high of $323.25. The company has a 50-day simple moving average of $211.48 and a 200-day simple moving average of $234.19. The company has a market capitalization of $10.33 billion, a PE ratio of 73.14, a P/E/G ratio of 0.64 and a beta of 1.74.

Modine Manufacturing (NYSE:MOD) last released its quarterly earnings data on Wednesday, July 29th. The auto parts company reported $1.53 EPS for the quarter, topping analysts’ consensus estimates of $1.27 by $0.26. Modine Manufacturing had a net margin of 4.28% and a return on equity of 25.59%. The firm had revenue of $874.10 million for the quarter, compared to the consensus estimate of $878.69 million. During the same quarter in the previous year, the firm earned $0.95 earnings per share. The firm’s revenue was up 28.0% on a year-over-year basis. Equities research analysts predict that Modine Manufacturing Company will post 7.65 earnings per share 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.