Moody National Bank Trust Division Cuts Stock Position in Modine Manufacturing (NYSE:MOD)

Moody National Bank Trust Division lessened its holdings in Modine Manufacturing (NYSE:MOD) by 55.1% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 10,719 shares of the auto parts company’s stock after selling 13,171 shares during the period. Moody National Bank Trust Division’s holdings in Modine Manufacturing were worth $1,020,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. Principal Securities Inc. purchased a new position in shares of Modine Manufacturing during the fourth quarter valued at about $29,000. Nisa Investment Advisors LLC grew its position in shares of Modine Manufacturing by 51.8% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,172 shares of the auto parts company’s stock valued at $70,000 after purchasing an additional 400 shares in the last quarter. PNC Financial Services Group Inc. grew its position in shares of Modine Manufacturing by 49.9% during the third quarter. PNC Financial Services Group Inc. now owns 2,206 shares of the auto parts company’s stock valued at $101,000 after purchasing an additional 734 shares in the last quarter. AJOVista LLC purchased a new position in shares of Modine Manufacturing during the fourth quarter valued at about $133,000. Finally, Invst LLC purchased a new position in shares of Modine Manufacturing during the fourth quarter valued at about $181,000. Hedge funds and other institutional investors own 95.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on MOD shares. Oppenheimer raised their price objective on shares of Modine Manufacturing from $105.00 to $110.00 and gave the stock an “outperform” rating in a research note on Thursday, May 23rd. DA Davidson lifted their price target on shares of Modine Manufacturing from $110.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, May 24th. Finally, B. Riley reaffirmed a “buy” rating and set a $98.00 price target (up previously from $88.00) on shares of Modine Manufacturing in a research note on Tuesday, February 27th.

Modine Manufacturing Stock Up 5.0 %

Modine Manufacturing stock opened at $97.77 on Thursday. The business has a fifty day moving average of $96.44 and a two-hundred day moving average of $81.94. The company has a quick ratio of 0.98, a current ratio of 1.64 and a debt-to-equity ratio of 0.53. The firm has a market cap of $5.12 billion, a P/E ratio of 32.27, a P/E/G ratio of 0.78 and a beta of 2.26. Modine Manufacturing has a twelve month low of $30.59 and a twelve month high of $109.53.

Modine Manufacturing (NYSE:MOD) last posted its earnings results on Tuesday, May 21st. The auto parts company reported $0.77 earnings per share for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.02). The company had revenue of $603.50 million for the quarter, compared to analysts’ expectations of $605.44 million. Modine Manufacturing had a return on equity of 24.69% and a net margin of 6.71%. The firm’s quarterly revenue was down 2.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.67 EPS. On average, analysts forecast that Modine Manufacturing will post 3.7 earnings per share for the current fiscal year.

Insider Transactions at Modine Manufacturing

In other news, VP Brian Jon Agen sold 16,799 shares of the company’s stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $95.64, for a total transaction of $1,606,656.36. Following the transaction, the vice president now directly owns 102,409 shares of the company’s stock, valued at $9,794,396.76. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 2.86% of the company’s stock.

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.