Glenmede Trust Co. NA Lowers Stake in Modine Manufacturing Company $MOD

Glenmede Trust Co. NA lessened its holdings in Modine Manufacturing Company (NYSE:MOD) by 48.3% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,125 shares of the auto parts company’s stock after selling 3,860 shares during the quarter. Glenmede Trust Co. NA’s holdings in Modine Manufacturing were worth $894,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Wellington Management Group LLP boosted its position in shares of Modine Manufacturing by 4.7% in the 4th quarter. Wellington Management Group LLP now owns 2,879,299 shares of the auto parts company’s stock worth $384,415,000 after purchasing an additional 130,511 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in Modine Manufacturing by 31.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,333,174 shares of the auto parts company’s stock valued at $311,503,000 after buying an additional 560,131 shares during the last quarter. Wasatch Advisors LP boosted its holdings in Modine Manufacturing by 1.4% in the second quarter. Wasatch Advisors LP now owns 1,792,413 shares of the auto parts company’s stock worth $176,553,000 after acquiring an additional 23,955 shares in the last quarter. Capital Research Global Investors grew its stake in shares of Modine Manufacturing by 13.8% in the fourth quarter. Capital Research Global Investors now owns 1,478,224 shares of the auto parts company’s stock worth $197,358,000 after acquiring an additional 179,617 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in shares of Modine Manufacturing by 120.4% during the fourth quarter. Invesco Ltd. now owns 1,318,529 shares of the auto parts company’s stock valued at $176,037,000 after acquiring an additional 720,389 shares in the last quarter. Institutional investors own 95.23% of the company’s stock.

Modine Manufacturing Stock Performance

Shares of MOD stock opened at $193.16 on Friday. The company has a quick ratio of 1.22, a current ratio of 2.04 and a debt-to-equity ratio of 0.39. The company has a 50 day moving average price of $250.63 and a 200-day moving average price of $232.85. Modine Manufacturing Company has a 52 week low of $111.18 and a 52 week high of $323.25. The firm has a market capitalization of $10.26 billion, a PE ratio of 72.61, a P/E/G ratio of 0.64 and a beta of 1.71.

Modine Manufacturing (NYSE:MOD) last issued its quarterly earnings data on Tuesday, July 28th. The auto parts company reported $1.53 earnings per share for the quarter, beating 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 company had revenue of $874.10 million for the quarter, compared to the consensus estimate of $878.69 million. During the same quarter in the prior year, the firm earned $0.95 earnings per share. The firm’s revenue for the quarter was up 28.0% compared to the same quarter last year. As a group, equities research analysts expect that Modine Manufacturing Company will post 7.65 earnings per share for the current year.

Insider Buying and Selling

In other Modine Manufacturing news, VP Brian Jon Agen sold 38,282 shares of the business’s stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $295.17, for a total transaction of $11,299,697.94. Following the completion of the sale, the vice president directly owned 66,343 shares in the company, valued at $19,582,463.31. The trade was a 36.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Eric S. Mcginnis sold 1,020 shares of the company’s stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $295.06, for a total transaction of $300,961.20. Following the sale, the insider directly owned 28,364 shares of the company’s stock, valued at $8,369,081.84. The trade was a 3.47% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 54,302 shares of company stock valued at $15,928,759 over the last 90 days. Company insiders own 1.92% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on MOD. Weiss Ratings upgraded shares of Modine Manufacturing from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, May 28th. Oppenheimer upped their target price on shares of Modine Manufacturing from $271.00 to $325.00 and gave the stock an “outperform” rating in a research note on Thursday, May 28th. Glj Research reissued a “buy” rating and set a $428.00 price target on shares of Modine Manufacturing in a research report on Monday, June 1st. Zacks Research lowered shares of Modine Manufacturing from a “strong-buy” rating to a “hold” rating in a report on Monday, April 13th. Finally, KeyCorp cut their target price on Modine Manufacturing from $370.00 to $280.00 and set an “overweight” rating on the stock in a research note on Thursday, July 30th. Seven analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $320.14.

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.