Bank of New York Mellon Corp Has $22.58 Million Position in Modine Manufacturing (NYSE:MOD)

Bank of New York Mellon Corp boosted its holdings in shares of Modine Manufacturing (NYSE:MOD) by 15.7% in the second quarter, according to its most recent filing with the SEC. The firm owned 225,375 shares of the auto parts company’s stock after acquiring an additional 30,617 shares during the period. Bank of New York Mellon Corp’s holdings in Modine Manufacturing were worth $22,580,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in MOD. Riverwater Partners LLC grew its stake in shares of Modine Manufacturing by 0.6% during the first quarter. Riverwater Partners LLC now owns 23,633 shares of the auto parts company’s stock worth $2,250,000 after purchasing an additional 152 shares during the period. SummerHaven Investment Management LLC raised its position in shares of Modine Manufacturing by 0.7% in the 2nd quarter. SummerHaven Investment Management LLC now owns 21,194 shares of the auto parts company’s stock valued at $2,123,000 after acquiring an additional 155 shares during the period. Horizon Investment Services LLC boosted its stake in Modine Manufacturing by 4.4% during the 1st quarter. Horizon Investment Services LLC now owns 4,558 shares of the auto parts company’s stock worth $434,000 after acquiring an additional 191 shares during the last quarter. Nordea Investment Management AB grew its holdings in Modine Manufacturing by 0.4% during the first quarter. Nordea Investment Management AB now owns 82,126 shares of the auto parts company’s stock valued at $7,879,000 after purchasing an additional 338 shares during the period. Finally, Strid Group LLC bought a new stake in Modine Manufacturing in the first quarter valued at approximately $33,000. Institutional investors own 95.23% of the company’s stock.

Modine Manufacturing Stock Performance

MOD opened at $103.94 on Friday. The company has a market capitalization of $5.45 billion, a price-to-earnings ratio of 34.30, a P/E/G ratio of 0.93 and a beta of 2.27. The business’s 50-day moving average price is $107.85 and its two-hundred day moving average price is $98.73. Modine Manufacturing has a 1 year low of $38.50 and a 1 year high of $123.92. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.80 and a quick ratio of 1.11.

Modine Manufacturing (NYSE:MOD) last released its earnings results on Tuesday, July 30th. The auto parts company reported $1.04 EPS for the quarter, beating the consensus estimate of $0.86 by $0.18. The firm had revenue of $661.50 million for the quarter, compared to analysts’ expectations of $633.55 million. Modine Manufacturing had a return on equity of 24.92% and a net margin of 6.70%. The business’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.85 EPS. Equities analysts expect that Modine Manufacturing will post 3.85 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. B. Riley lifted their price target on shares of Modine Manufacturing from $125.00 to $140.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. William Blair initiated coverage on Modine Manufacturing in a research note on Monday, July 29th. They issued an “outperform” rating for the company. DA Davidson raised their price target on Modine Manufacturing from $120.00 to $140.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Finally, Oppenheimer boosted their price objective on Modine Manufacturing from $114.00 to $135.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $138.33.

Insider Buying and Selling

In other Modine Manufacturing news, Director Marsha C. Williams sold 34,400 shares of Modine Manufacturing stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $109.74, for a total value of $3,775,056.00. Following the sale, the director now directly owns 144,038 shares in the company, valued at approximately $15,806,730.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.40% of the stock is currently owned by corporate insiders.

About Modine Manufacturing

Modine Manufacturing Company provides engineered heat transfer systems and heat transfer components for use in on- and off-highway original equipment manufacturer (OEM) vehicular applications. It operates through Climate Solutions and Performance Technologies segments. The company offers gas-fired, hydronic, electric, and oil-fired unit heaters; indoor and outdoor duct furnaces; infrared units; perimeter heating products, such as commercial fin-tube radiation, cabinet unit heaters, and convectors; roof-mounted direct- and indirect-fired makeup air units; unit ventilators; single packaged vertical units; precision air conditioning units for data center applications; air handler units; fan walls; chillers; ceiling cassettes; hybrid fan coils; and condensers and condensing units.