Union Bancaire Privee UBP SA Grows Stock Holdings in Modine Manufacturing Company $MOD

Union Bancaire Privee UBP SA increased its position in shares of Modine Manufacturing Company (NYSE:MOD) by 48.8% in the first quarter, HoldingsChannel.com reports. The firm owned 9,948 shares of the auto parts company’s stock after acquiring an additional 3,264 shares during the quarter. Union Bancaire Privee UBP SA’s holdings in Modine Manufacturing were worth $2,156,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of MOD. OP Asset Management Ltd acquired a new position in Modine Manufacturing in the first quarter valued at approximately $828,000. Assenagon Asset Management S.A. acquired a new stake in Modine Manufacturing during the 1st quarter worth $9,753,000. Campbell Newman Asset Management Inc. raised its stake in Modine Manufacturing by 1.4% during the 1st quarter. Campbell Newman Asset Management Inc. now owns 31,169 shares of the auto parts company’s stock worth $6,755,000 after acquiring an additional 445 shares in the last quarter. Hsbc Holdings PLC lifted its position in Modine Manufacturing by 113.6% in the fourth quarter. Hsbc Holdings PLC now owns 5,086 shares of the auto parts company’s stock valued at $679,000 after acquiring an additional 2,705 shares during the last quarter. Finally, Rockefeller Capital Management L.P. lifted its position in Modine Manufacturing by 135.6% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,972 shares of the auto parts company’s stock valued at $263,000 after acquiring an additional 1,135 shares during the last quarter. 95.23% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MOD has been the topic of several research reports. KeyCorp raised their price objective on Modine Manufacturing from $250.00 to $370.00 and gave the stock an “overweight” rating in a report on Wednesday, May 27th. Zacks Research downgraded Modine Manufacturing from a “strong-buy” rating to a “hold” rating in a report on Monday, April 13th. Weiss Ratings raised Modine Manufacturing from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, May 28th. Glj Research restated a “buy” rating and set a $428.00 price target on shares of Modine Manufacturing in a research note on Monday, June 1st. Finally, Oppenheimer lifted their price target on Modine Manufacturing from $271.00 to $325.00 and gave the stock an “outperform” rating in a research report on Thursday, May 28th. Seven research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $327.14.

Insiders Place Their Bets

In other news, Director Eric D. Ashleman sold 15,000 shares of the stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $288.54, for a total transaction of $4,328,100.00. Following the completion of 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 position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Eric S. Mcginnis sold 1,020 shares of Modine Manufacturing stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $295.06, for a total value of $300,961.20. Following the completion of the sale, the insider owned 28,364 shares in the company, valued at approximately $8,369,081.84. This trade represents a 3.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 54,302 shares of company stock worth $15,928,759. Company insiders own 2.48% of the company’s stock.

Modine Manufacturing Stock Down 9.8%

Modine Manufacturing stock opened at $255.80 on Friday. Modine Manufacturing Company has a twelve month low of $86.48 and a twelve month high of $323.25. The stock has a 50 day moving average of $270.27 and a two-hundred day moving average of $213.85. The company has a current ratio of 1.94, a quick ratio of 1.25 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $13.51 billion, a price-to-earnings ratio of 114.20, a PEG ratio of 0.83 and a beta of 1.65.

Modine Manufacturing (NYSE:MOD) last released its earnings results on Tuesday, May 26th. The auto parts company reported $1.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.51 by $0.20. The business had revenue of $954.40 million for the quarter, compared to analyst estimates of $920.67 million. Modine Manufacturing had a return on equity of 24.39% and a net margin of 3.82%.The company’s revenue for the quarter was up 47.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.12 earnings per share. As a group, research analysts expect that Modine Manufacturing Company will post 7.73 earnings per share for the current 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.