UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Buys 72,253 Shares of Modine Manufacturing Company $MOD

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Modine Manufacturing Company (NYSE:MOD) by 59.5% in the second quarter, Holdings Channel reports. The institutional investor owned 193,619 shares of the auto parts company’s stock after acquiring an additional 72,253 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Modine Manufacturing were worth $51,700,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in MOD. Lazard Asset Management LLC bought a new stake in Modine Manufacturing during the 1st quarter valued at about $1,722,000. Robinhood Asset Management LLC purchased a new stake in Modine Manufacturing during the second quarter worth $8,848,000. Ranger Investment Management L.P. purchased a new stake in shares of Modine Manufacturing during the 1st quarter worth $15,557,000. Allspring Global Investments Holdings LLC boosted its holdings in shares of Modine Manufacturing by 253.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 306,005 shares of the auto parts company’s stock valued at $68,230,000 after buying an additional 219,373 shares in the last quarter. Finally, SIR Capital Management L.P. acquired a new stake in Modine Manufacturing in the second quarter valued at approximately $10,452,000. Institutional investors own 95.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on MOD shares. DA Davidson reissued a “buy” rating and issued a $330.00 price target on shares of Modine Manufacturing in a report on Monday, June 22nd. UBS Group upped their price target on shares of Modine Manufacturing to $310.00 and gave the company a “buy” rating in a report on Wednesday, May 27th. Weiss Ratings restated a “hold (c)” rating on shares of Modine Manufacturing in a research report on Tuesday, August 25th. Glj Research reissued a “buy” rating and set a $428.00 target price on shares of Modine Manufacturing in a research note on Monday, June 1st. Finally, B. Riley Financial reissued a “buy” rating and issued a $305.00 price target (down from $340.00) on shares of Modine Manufacturing in a research note on Thursday, July 30th. Seven equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $320.14.

Insider Buying and Selling

In other Modine Manufacturing news, VP Brian Jon Agen sold 38,282 shares of the firm’s stock in a transaction on 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 owned 66,343 shares of the company’s stock, valued at $19,582,463.31. This trade represents a 36.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Eric D. Ashleman sold 15,000 shares of the firm’s stock in a transaction dated 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 sale, the director directly owned 42,350 shares of the company’s stock, valued at $12,219,669. The trade was a 26.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 54,302 shares of company stock worth $15,928,759. Company insiders own 1.92% of the company’s stock.

Modine Manufacturing Trading Down 0.9%

Shares of Modine Manufacturing stock opened at $179.29 on Thursday. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.04 and a quick ratio of 1.22. The stock’s 50 day simple moving average is $215.88 and its 200-day simple moving average is $234.72. The stock has a market cap of $9.52 billion, a P/E ratio of 67.40, a P/E/G ratio of 0.59 and a beta of 1.74. Modine Manufacturing Company has a 1-year low of $111.18 and a 1-year high of $323.25.

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