Modine Manufacturing Company $MOD Shares Sold by Moody National Bank Trust Division

Moody National Bank Trust Division lowered its stake in Modine Manufacturing Company (NYSE:MOD) by 25.4% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 22,101 shares of the auto parts company’s stock after selling 7,516 shares during the period. Moody National Bank Trust Division’s holdings in Modine Manufacturing were worth $5,901,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of MOD. V Square Quantitative Management LLC bought a new stake in shares of Modine Manufacturing during the 1st quarter worth $25,000. Kemnay Advisory Services Inc. acquired a new stake in shares of Modine Manufacturing during the fourth quarter worth $25,000. Sunbelt Securities Inc. purchased a new stake in shares of Modine Manufacturing during the third quarter valued at $39,000. Danske Bank A S purchased a new stake in shares of Modine Manufacturing during the third quarter valued at $43,000. Finally, Root Financial Partners LLC boosted its position in shares of Modine Manufacturing by 140.5% in the 4th quarter. Root Financial Partners LLC now owns 368 shares of the auto parts company’s stock valued at $49,000 after purchasing an additional 215 shares during the period. Institutional investors and hedge funds own 95.23% of the company’s stock.

Modine Manufacturing Trading Up 3.1%

Modine Manufacturing stock opened at $202.04 on Wednesday. Modine Manufacturing Company has a 12 month low of $111.18 and a 12 month high of $323.25. 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 stock has a market cap of $10.73 billion, a P/E ratio of 75.96, a P/E/G ratio of 0.64 and a beta of 1.71. The company’s fifty day simple moving average is $253.91 and its 200-day simple moving average is $232.00.

Modine Manufacturing (NYSE:MOD) last announced its quarterly earnings data on Tuesday, July 28th. The auto parts company reported $1.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.27 by $0.26. The business had revenue of $874.10 million during the quarter, compared to analyst estimates of $878.69 million. Modine Manufacturing had a return on equity of 25.59% and a net margin of 4.28%.Modine Manufacturing’s quarterly revenue was up 28.0% compared to the same quarter last year. During the same period last year, the company earned $0.95 earnings per share. As a group, sell-side analysts forecast that Modine Manufacturing Company will post 7.65 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on MOD. Weiss Ratings raised Modine Manufacturing from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, May 28th. Zacks Research lowered shares of Modine Manufacturing from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 13th. UBS Group raised their target price on shares of Modine Manufacturing to $310.00 and gave the stock a “buy” rating in a report on Wednesday, May 27th. Oppenheimer lifted their target price on shares of Modine Manufacturing from $271.00 to $325.00 and gave the stock an “outperform” rating in a research report on Thursday, May 28th. Finally, Glj Research restated a “buy” rating and set a $428.00 price target on shares of Modine Manufacturing in a report on Monday, June 1st. Seven investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, Modine Manufacturing has a consensus rating of “Moderate Buy” and an average price target of $320.14.

Insiders Place Their Bets

In other news, VP Brian Jon Agen sold 38,282 shares of Modine Manufacturing 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Eric D. Ashleman sold 15,000 shares of Modine Manufacturing stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $288.54, for a total value of $4,328,100.00. Following the sale, the director 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 disclosure for this sale is available in the SEC filing. Insiders have sold a total of 54,302 shares of company stock valued at $15,928,759 in the last three months. Insiders own 1.92% of the company’s stock.

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.