Bank of New York Mellon Corp Has $37.97 Million Stock Holdings in Modine Manufacturing Company $MOD

Bank of New York Mellon Corp trimmed its stake in shares of Modine Manufacturing Company (NYSE:MOD) by 4.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 175,199 shares of the auto parts company’s stock after selling 7,308 shares during the quarter. Bank of New York Mellon Corp’s holdings in Modine Manufacturing were worth $37,967,000 at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

MOD has been the subject of several research reports. Weiss Ratings upgraded shares of Modine Manufacturing from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, May 28th. Wall Street Zen downgraded Modine Manufacturing from a “buy” rating to a “hold” rating in a research report on Saturday. Zacks Research downgraded Modine Manufacturing from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 13th. B. Riley Financial lifted their price target on Modine Manufacturing from $250.00 to $264.00 and gave the stock a “buy” rating in a report on Tuesday, May 26th. Finally, KeyCorp lifted their price target on Modine Manufacturing from $250.00 to $370.00 and gave the stock an “overweight” rating in a report on Wednesday, May 27th. Seven analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Modine Manufacturing currently has a consensus rating of “Moderate Buy” and a consensus price target of $327.14.

Insider Activity

In other news, insider Eric S. Mcginnis sold 1,020 shares of Modine Manufacturing stock in a transaction that occurred 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 sale, the insider directly owned 28,364 shares in the company, valued at approximately $8,369,081.84. The trade was a 3.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Brian Jon Agen sold 38,282 shares of the business’s stock in a transaction that occurred on Thursday, June 18th. The shares were 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 of the company’s stock, valued at approximately $19,582,463.31. This trade represents a 36.59% decrease in their ownership of the stock. 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 ninety days, insiders sold 54,302 shares of company stock worth $15,928,759. Corporate insiders own 1.92% of the company’s stock.

Modine Manufacturing Price Performance

NYSE:MOD opened at $241.46 on Friday. Modine Manufacturing Company has a 52 week low of $98.90 and a 52 week high of $323.25. The firm has a market cap of $12.82 billion, a price-to-earnings ratio of 107.80, a P/E/G ratio of 0.78 and a beta of 1.67. The firm’s 50-day simple moving average is $262.07 and its 200 day simple moving average is $227.62. 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 data on Tuesday, May 26th. The auto parts company reported $1.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.51 by $0.20. Modine Manufacturing had a net margin of 3.82% and a return on equity of 24.39%. The firm had revenue of $954.40 million during the quarter, compared to the consensus estimate of $920.67 million. During the same quarter in the previous year, the firm posted $1.12 EPS. The business’s revenue for the quarter was up 47.5% compared to the same quarter last year. As a group, sell-side analysts predict that Modine Manufacturing Company will post 7.72 earnings per share 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.