Kranot Hishtalmut Le Morim Tichoniim Havera Menahelet LTD Acquires Shares of 13,473 Modine Manufacturing Company $MOD

Kranot Hishtalmut Le Morim Tichoniim Havera Menahelet LTD acquired a new position in Modine Manufacturing Company (NYSE:MOD) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 13,473 shares of the auto parts company’s stock, valued at approximately $3,598,000.

Other institutional investors also recently bought and sold shares of the company. Baird Financial Group Inc. boosted its position in Modine Manufacturing by 739.2% during the 2nd quarter. Baird Financial Group Inc. now owns 10,238 shares of the auto parts company’s stock valued at $2,734,000 after acquiring an additional 9,018 shares in the last quarter. Arizona State Retirement System lifted its stake in shares of Modine Manufacturing by 0.4% during the 2nd quarter. Arizona State Retirement System now owns 13,823 shares of the auto parts company’s stock worth $3,691,000 after purchasing an additional 52 shares during the last quarter. Nykredit A S purchased a new stake in shares of Modine Manufacturing during the 2nd quarter worth $474,000. Amundi boosted its position in Modine Manufacturing by 1.6% during the second quarter. Amundi now owns 316,781 shares of the auto parts company’s stock valued at $84,587,000 after purchasing an additional 5,088 shares in the last quarter. Finally, HighTower Advisors LLC boosted its position in Modine Manufacturing by 23.9% during the second quarter. HighTower Advisors LLC now owns 2,684 shares of the auto parts company’s stock valued at $717,000 after purchasing an additional 517 shares in the last quarter. 95.23% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Eric S. Mcginnis sold 1,020 shares of Modine Manufacturing stock in a transaction 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 sale, the insider owned 28,364 shares of the company’s stock, valued at approximately $8,369,081.84. This trade represents a 3.47% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Brian Agen sold 38,282 shares of the business’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 directly owned 66,343 shares of the company’s stock, valued at approximately $19,582,463.31. The trade was a 36.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 54,302 shares of company stock worth $15,928,759 in the last ninety days. Company insiders own 1.92% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. B. Riley Financial restated a “buy” rating and issued a $305.00 price target (down from $340.00) on shares of Modine Manufacturing in a report on Thursday, July 30th. Glj Research reiterated a “buy” rating and set a $428.00 price objective on shares of Modine Manufacturing in a research note on Monday, June 1st. Wall Street Zen cut shares of Modine Manufacturing from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. Weiss Ratings restated a “hold (c)” rating on shares of Modine Manufacturing in a research note on Tuesday, August 25th. Finally, KeyCorp reaffirmed an “overweight” rating and issued a $280.00 price target on shares of Modine Manufacturing in a report on Wednesday, September 2nd. Seven investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $320.14.

Modine Manufacturing Stock Down 1.1%

Modine Manufacturing stock opened at $192.54 on Wednesday. The business’s 50-day simple moving average is $209.98 and its two-hundred day simple moving average is $234.02. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.22 and a current ratio of 2.04. The company has a market cap of $10.23 billion, a PE ratio of 72.38, a PEG ratio of 0.64 and a beta of 1.74. Modine Manufacturing Company has a fifty-two week low of $111.18 and a fifty-two week high of $323.25.

Modine Manufacturing (NYSE:MOD) last announced its quarterly earnings data on Wednesday, July 29th. The auto parts company reported $1.53 EPS for the quarter, beating the consensus estimate of $1.27 by $0.26. The business had revenue of $874.10 million during the quarter, compared to analysts’ expectations of $878.69 million. Modine Manufacturing had a net margin of 4.28% and a return on equity of 25.59%. The business’s quarterly revenue was up 28.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.95 EPS. Equities analysts anticipate that Modine Manufacturing Company will post 7.65 EPS for the current year.

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.