SG Americas Securities LLC Sells 21,350 Shares of Modine Manufacturing (NYSE:MOD)

SG Americas Securities LLC reduced its stake in shares of Modine Manufacturing (NYSE:MOD) by 66.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,778 shares of the auto parts company’s stock after selling 21,350 shares during the quarter. SG Americas Securities LLC’s holdings in Modine Manufacturing were worth $1,431,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in MOD. Hennessy Advisors Inc. increased its position in shares of Modine Manufacturing by 20.4% during the 1st 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 during the last quarter. Fred Alger Management LLC boosted its stake in Modine Manufacturing by 5.1% during the second quarter. Fred Alger Management LLC now owns 369,840 shares of the auto parts company’s stock worth $37,054,000 after buying an additional 17,889 shares during the period. Janney Montgomery Scott LLC bought a new position in Modine Manufacturing during the first quarter valued at $833,000. State Board of Administration of Florida Retirement System raised its stake in shares of Modine Manufacturing by 327.8% in the first quarter. State Board of Administration of Florida Retirement System now owns 62,841 shares of the auto parts company’s stock valued at $5,982,000 after acquiring an additional 48,150 shares during the period. Finally, Oliver Luxxe Assets LLC purchased a new stake in shares of Modine Manufacturing in the first quarter valued at $2,775,000. 95.23% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MOD has been the subject of a number of recent analyst reports. William Blair initiated coverage on shares of Modine Manufacturing in a research note on Monday, July 29th. They set an “outperform” rating for the company. Oppenheimer restated an “outperform” rating and set a $135.00 target price on shares of Modine Manufacturing in a research report on Thursday, September 12th. DA Davidson increased their price target on Modine Manufacturing from $140.00 to $155.00 and gave the stock a “buy” rating in a report on Tuesday, September 24th. Finally, B. Riley raised their price target on Modine Manufacturing from $125.00 to $140.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Modine Manufacturing currently has an average rating of “Moderate Buy” and an average price target of $143.33.

Insider Activity

In related 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 completion of the sale, the director now directly owns 144,038 shares of the company’s stock, valued at $15,806,730.12. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 2.40% of the company’s stock.

Modine Manufacturing Trading Down 0.5 %

Shares of MOD opened at $132.77 on Wednesday. The firm has a market capitalization of $6.96 billion, a price-to-earnings ratio of 43.82, a PEG ratio of 0.97 and a beta of 2.22. 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 has a 1-year low of $38.50 and a 1-year high of $138.99. The company has a 50-day moving average of $114.20 and a 200 day moving average of $104.17.

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

Modine Manufacturing Profile

Modine Manufacturing Company provides thermal management products and solutions in the United States, Italy, Hungary, China, the United Kingdom, and internationally. It operates through Climate Solutions and Performance Technologies segments. The company offers heat transfer coils, including heat recovery and round tube plate fin coils; gas-fired, hydronic, electric and oilfired unit heaters; roof-mounted direct- and indirect-fired makeup air units; duct furnaces; infrared units; perimeter heating products; single packaged unit ventilators; modular chillers; air handler and condensing units; ceiling cassettes; evaporator unit coolers, remote condensers, fluid coolers, gas coolers, and dry and brine coolers; and motor and generator cooling coils, transformer oil coolers, radiators, dryers, and industrial heat exchangers.