Gibbs Wealth Management Purchases 2,781 Shares of Modine Manufacturing Company $MOD

Gibbs Wealth Management increased its holdings in Modine Manufacturing Company (NYSE:MOD) by 65.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,049 shares of the auto parts company’s stock after buying an additional 2,781 shares during the period. Gibbs Wealth Management’s holdings in Modine Manufacturing were worth $1,528,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of MOD. Wellington Management Group LLP increased its holdings in Modine Manufacturing by 4.7% during 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 acquiring an additional 130,511 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of Modine Manufacturing by 31.6% during the 4th 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 purchasing an additional 560,131 shares in the last quarter. Wasatch Advisors LP grew its position in shares of Modine Manufacturing by 1.4% during the 2nd quarter. Wasatch Advisors LP now owns 1,792,413 shares of the auto parts company’s stock valued at $176,553,000 after purchasing an additional 23,955 shares in the last quarter. Capital Research Global Investors increased its holdings 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 purchasing an additional 179,617 shares during the period. Finally, Invesco Ltd. increased its holdings in shares of Modine Manufacturing by 120.4% in the fourth quarter. Invesco Ltd. now owns 1,318,529 shares of the auto parts company’s stock worth $176,037,000 after purchasing an additional 720,389 shares during the period. 95.23% of the stock is currently owned by hedge funds and other institutional investors.

Modine Manufacturing Price Performance

MOD stock opened at $250.01 on Friday. The firm has a market cap of $13.28 billion, a P/E ratio of 111.61, a P/E/G ratio of 0.81 and a beta of 1.67. The firm’s fifty day moving average is $262.68 and its 200 day moving average is $227.52. Modine Manufacturing Company has a 52 week low of $96.45 and a 52 week high of $323.25. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.25 and a current ratio of 1.94.

Modine Manufacturing (NYSE:MOD) last posted its quarterly earnings results on Tuesday, May 26th. The auto parts company reported $1.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.51 by $0.20. Modine Manufacturing had a return on equity of 24.39% and a net margin of 3.82%.The business had revenue of $954.40 million for the quarter, compared to analyst estimates of $920.67 million. During the same period last year, the company earned $1.12 EPS. Modine Manufacturing’s revenue for the quarter was up 47.5% compared to the same quarter last year. Research analysts predict that Modine Manufacturing Company will post 7.72 earnings per share for the current year.

Insider Activity at Modine Manufacturing

In other Modine Manufacturing news, VP Brian Jon Agen sold 38,282 shares of the stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $295.17, for a total value of $11,299,697.94. Following the completion of the sale, the vice president owned 66,343 shares in the company, valued at approximately $19,582,463.31. This trade represents a 36.59% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed 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 on 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 completion of 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 position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 54,302 shares of company stock worth $15,928,759 in the last 90 days. Company insiders own 1.92% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on MOD. DA Davidson restated a “buy” rating and set a $330.00 target price on shares of Modine Manufacturing in a research report on Monday, June 22nd. Weiss Ratings upgraded Modine Manufacturing from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, May 28th. Oppenheimer lifted their price target on Modine Manufacturing from $271.00 to $325.00 and gave the company an “outperform” rating in a research report on Thursday, May 28th. Glj Research restated a “buy” rating and issued a $428.00 price objective on shares of Modine Manufacturing in a research report on Monday, June 1st. Finally, Zacks Research downgraded shares of Modine Manufacturing from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 13th. Seven equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $327.14.

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.