National Bank of Canada FI Cuts Stock Position in Modine Manufacturing (NYSE:MOD)

National Bank of Canada FI cut its holdings in shares of Modine Manufacturing (NYSE:MOD) by 3.4% during the second quarter, Holdings Channel reports. The firm owned 5,077 shares of the auto parts company’s stock after selling 177 shares during the quarter. National Bank of Canada FI’s holdings in Modine Manufacturing were worth $519,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Modine Manufacturing by 27.3% in the first quarter. Vanguard Group Inc. now owns 3,909,016 shares of the auto parts company’s stock valued at $372,099,000 after purchasing an additional 838,460 shares in the last quarter. Capital International Investors boosted its holdings in Modine Manufacturing by 40.6% in the first quarter. Capital International Investors now owns 1,425,845 shares of the auto parts company’s stock valued at $135,726,000 after purchasing an additional 411,946 shares in the last quarter. Hennessy Advisors Inc. boosted its holdings in Modine Manufacturing by 20.4% in the first quarter. Hennessy Advisors Inc. now owns 714,400 shares of the auto parts company’s stock valued at $68,004,000 after purchasing an additional 121,200 shares in the last quarter. Axiom Investors LLC DE boosted its holdings in Modine Manufacturing by 286.0% in the fourth quarter. Axiom Investors LLC DE now owns 281,690 shares of the auto parts company’s stock valued at $16,817,000 after purchasing an additional 208,715 shares in the last quarter. Finally, UBS Group AG boosted its holdings in shares of Modine Manufacturing by 19.8% in the fourth quarter. UBS Group AG now owns 247,047 shares of the auto parts company’s stock valued at $14,749,000 after acquiring an additional 40,883 shares during the period. 95.23% of the stock is currently owned by hedge funds and other institutional investors.

Modine Manufacturing Stock Up 0.3 %

MOD opened at $111.13 on Friday. The company has a quick ratio of 1.11, a current ratio of 1.80 and a debt-to-equity ratio of 0.51. The firm has a market cap of $5.82 billion, a P/E ratio of 36.68, a PEG ratio of 0.83 and a beta of 2.22. Modine Manufacturing has a 52 week low of $38.50 and a 52 week high of $123.92. The business’s fifty day simple moving average is $107.64 and its 200 day simple moving average is $99.68.

Modine Manufacturing (NYSE:MOD) last issued its quarterly earnings results on Tuesday, July 30th. The auto parts company reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.86 by $0.18. Modine Manufacturing had a return on equity of 24.92% and a net margin of 6.70%. The firm had revenue of $661.50 million for the quarter, compared to analyst estimates of $633.55 million. During the same period last year, the company earned $0.85 EPS. The firm’s quarterly revenue was up 6.3% on a year-over-year basis. As a group, equities research analysts anticipate that Modine Manufacturing will post 3.85 EPS for the current fiscal year.

Insider Activity

In related news, Director Marsha C. Williams sold 34,400 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $109.74, for a total transaction 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 SEC, which is accessible through this link. Corporate insiders own 2.40% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on MOD. William Blair began coverage on Modine Manufacturing in a report on Monday, July 29th. They issued an “outperform” rating for the company. DA Davidson increased their price objective on Modine Manufacturing from $120.00 to $140.00 and gave the company a “buy” rating in a report on Thursday, August 1st. B. Riley increased their price objective on Modine Manufacturing from $125.00 to $140.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Finally, Oppenheimer reissued an “outperform” rating and issued a $135.00 price objective on shares of Modine Manufacturing in a report on Thursday. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $138.33.

Modine Manufacturing Profile

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.