Bessemer Group Inc. Has $35.50 Million Stake in Modine Manufacturing Company $MOD

Bessemer Group Inc. lifted its holdings in Modine Manufacturing Company (NYSE:MOD) by 20.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 163,832 shares of the auto parts company’s stock after acquiring an additional 28,113 shares during the quarter. Bessemer Group Inc. owned approximately 0.31% of Modine Manufacturing worth $35,504,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. V Square Quantitative Management LLC acquired a new position in Modine Manufacturing in the first quarter worth $25,000. Kemnay Advisory Services Inc. bought a new position in shares of Modine Manufacturing in the fourth quarter valued at about $25,000. Spire Wealth Management acquired a new position in Modine Manufacturing during the 4th quarter worth about $27,000. Sunbelt Securities Inc. acquired a new position in Modine Manufacturing during the 3rd quarter worth about $39,000. Finally, Danske Bank A S bought a new stake in Modine Manufacturing during the 3rd quarter worth about $43,000. 95.23% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Modine Manufacturing

In other news, insider Eric S. Mcginnis sold 1,020 shares of the business’s 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 completion of the transaction, the insider owned 28,364 shares of the company’s stock, valued at $8,369,081.84. The trade was a 3.47% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Brian Jon Agen sold 38,282 shares of the company’s stock in a transaction on Thursday, June 18th. The shares were 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 approximately $19,582,463.31. This represents a 36.59% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 54,302 shares of company stock valued at $15,928,759. Corporate insiders own 2.48% of the company’s stock.

Modine Manufacturing Trading Up 1.4%

NYSE:MOD opened at $229.31 on Friday. Modine Manufacturing Company has a 1-year low of $90.41 and a 1-year high of $323.25. The business’s 50-day moving average price is $265.89 and its two-hundred day moving average price is $223.86. The company has a current ratio of 1.94, a quick ratio of 1.25 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $12.18 billion, a price-to-earnings ratio of 102.37, a PEG ratio of 0.73 and a beta of 1.67.

Modine Manufacturing (NYSE:MOD) last posted its 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. The company had revenue of $954.40 million during the quarter, compared to analyst estimates of $920.67 million. Modine Manufacturing had a return on equity of 24.39% and a net margin of 3.82%.The company’s revenue for the quarter was up 47.5% compared to the same quarter last year. During the same period in the previous year, the company earned $1.12 EPS. On average, equities analysts expect that Modine Manufacturing Company will post 7.72 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on MOD. B. Riley Financial upped their target price on shares of Modine Manufacturing from $250.00 to $264.00 and gave the stock a “buy” rating in a research report on Tuesday, May 26th. UBS Group raised 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. Oppenheimer boosted their price objective 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. Wall Street Zen upgraded Modine Manufacturing from a “hold” rating to a “buy” rating in a research report on Saturday, May 30th. Finally, KeyCorp increased their price objective on Modine Manufacturing from $250.00 to $370.00 and gave the company an “overweight” rating in a research report on Wednesday, May 27th. Seven research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, Modine Manufacturing has an average rating of “Moderate Buy” and an average price target of $327.14.

Modine Manufacturing 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.