TD Asset Management Inc Purchases 4,400 Shares of Modine Manufacturing (NYSE:MOD)

TD Asset Management Inc grew its position in Modine Manufacturing (NYSE:MOD) by 51.2% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 13,000 shares of the auto parts company’s stock after purchasing an additional 4,400 shares during the period. TD Asset Management Inc’s holdings in Modine Manufacturing were worth $1,302,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MOD. Vanguard Group Inc. raised its stake in Modine Manufacturing by 27.3% during the 1st quarter. Vanguard Group Inc. now owns 3,909,016 shares of the auto parts company’s stock worth $372,099,000 after buying an additional 838,460 shares during the period. Capital International Investors increased its stake in Modine Manufacturing by 40.6% during the 1st quarter. Capital International Investors now owns 1,425,845 shares of the auto parts company’s stock worth $135,726,000 after purchasing an additional 411,946 shares in the last quarter. Hennessy Advisors Inc. raised its holdings in Modine Manufacturing by 20.4% during the 1st quarter. Hennessy Advisors Inc. now owns 714,400 shares of the auto parts company’s stock worth $68,004,000 after buying an additional 121,200 shares during the period. Axiom Investors LLC DE lifted its stake 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 buying 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 buying an additional 40,883 shares during the period. 95.23% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Marsha C. Williams sold 34,400 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at approximately $15,806,730.12. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 2.40% of the stock is currently owned by insiders.

Modine Manufacturing Trading Up 0.2 %

Shares of NYSE:MOD opened at $111.07 on Friday. The company’s 50-day moving average price is $107.64 and its two-hundred day moving average price is $99.75. Modine Manufacturing has a one year low of $38.50 and a one 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. The stock has a market capitalization of $5.82 billion, a PE ratio of 36.66, a price-to-earnings-growth ratio of 0.83 and a beta of 2.22.

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

Analyst Upgrades and Downgrades

A number of brokerages recently commented on MOD. William Blair began coverage on shares of Modine Manufacturing in a report on Monday, July 29th. They set an “outperform” rating on the stock. B. Riley lifted their price target on Modine Manufacturing from $125.00 to $140.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. DA Davidson upped their price objective 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 reissued an “outperform” rating and issued a $135.00 target price on shares of Modine Manufacturing in a research report on Thursday. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $138.33.

Modine Manufacturing Company 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.