3,080 Shares in Modine Manufacturing Company $MOD Bought by Portside Wealth Group LLC

Portside Wealth Group LLC purchased a new position in Modine Manufacturing Company (NYSE:MOD) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 3,080 shares of the auto parts company’s stock, valued at approximately $438,000.

Other large investors have also made changes to their positions in the company. Allspring Global Investments Holdings LLC grew its holdings in Modine Manufacturing by 13.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 84,616 shares of the auto parts company’s stock valued at $12,512,000 after buying an additional 9,989 shares in the last quarter. Schear Investment Advisers LLC purchased a new stake in shares of Modine Manufacturing during the 2nd quarter worth approximately $1,547,000. Principal Financial Group Inc. boosted its position in shares of Modine Manufacturing by 0.9% during the 3rd quarter. Principal Financial Group Inc. now owns 749,845 shares of the auto parts company’s stock valued at $106,598,000 after acquiring an additional 6,847 shares during the last quarter. Y Intercept Hong Kong Ltd grew its holdings in shares of Modine Manufacturing by 390.6% in the third quarter. Y Intercept Hong Kong Ltd now owns 16,861 shares of the auto parts company’s stock valued at $2,397,000 after purchasing an additional 13,424 shares in the last quarter. Finally, Kornitzer Capital Management Inc. KS bought a new stake in Modine Manufacturing in the third quarter worth $8,156,000. 95.23% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Modine Manufacturing

In related news, CEO Neil David Brinker sold 31,871 shares of the firm’s stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $160.56, for a total value of $5,117,207.76. Following the transaction, the chief executive officer owned 238,312 shares of the company’s stock, valued at $38,263,374.72. This trade represents a 11.80% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Suresh V. Garimella sold 1,100 shares of Modine Manufacturing stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $184.07, for a total transaction of $202,477.00. Following the sale, the director owned 79,856 shares of the company’s stock, valued at $14,699,093.92. The trade was a 1.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 34,071 shares of company stock worth $5,484,685 in the last ninety days. 2.48% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. UBS Group began coverage on shares of Modine Manufacturing in a research report on Thursday, November 20th. They set a “buy” rating and a $173.00 price objective for the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Modine Manufacturing in a report on Monday, December 29th. Zacks Research raised Modine Manufacturing from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 30th. DA Davidson restated a “buy” rating and set a $200.00 price objective on shares of Modine Manufacturing in a research report on Thursday, January 29th. Finally, KeyCorp lifted their target price on Modine Manufacturing from $160.00 to $175.00 and gave the stock an “overweight” rating in a report on Tuesday, October 14th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, Modine Manufacturing has an average rating of “Buy” and an average target price of $197.00.

Modine Manufacturing Stock Performance

Modine Manufacturing stock opened at $215.80 on Friday. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.00 and a quick ratio of 1.16. The firm has a market capitalization of $11.36 billion, a P/E ratio of 119.89, a price-to-earnings-growth ratio of 1.30 and a beta of 1.71. Modine Manufacturing Company has a 1-year low of $64.79 and a 1-year high of $220.42. The company’s 50-day moving average is $148.62 and its 200 day moving average is $144.81.

Modine Manufacturing (NYSE:MOD) last released its earnings results on Wednesday, February 4th. The auto parts company reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.20. Modine Manufacturing had a return on equity of 23.74% and a net margin of 3.40%.The firm had revenue of $805.00 million for the quarter, compared to analysts’ expectations of $763.54 million. During the same quarter in the prior year, the firm posted $0.92 earnings per share. The company’s quarterly revenue was up 30.5% on a year-over-year basis. Research analysts forecast that Modine Manufacturing Company will post 3.88 EPS for the current 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.