Mackenzie Financial Corp Sells 310 Shares of Modine Manufacturing (NYSE:MOD)

Mackenzie Financial Corp decreased its position in Modine Manufacturing (NYSE:MOD) by 7.1% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 4,055 shares of the auto parts company’s stock after selling 310 shares during the period. Mackenzie Financial Corp’s holdings in Modine Manufacturing were worth $406,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. SG Americas Securities LLC grew its stake in Modine Manufacturing by 311.1% in the second quarter. SG Americas Securities LLC now owns 32,128 shares of the auto parts company’s stock valued at $3,219,000 after acquiring an additional 24,312 shares during the period. Hennessy Advisors Inc. increased its stake 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 purchasing an additional 121,200 shares in the last quarter. Fred Alger Management LLC increased its stake in Modine Manufacturing by 5.1% during the 2nd quarter. Fred Alger Management LLC now owns 369,840 shares of the auto parts company’s stock worth $37,054,000 after purchasing an additional 17,889 shares in the last quarter. Janney Montgomery Scott LLC acquired a new stake in Modine Manufacturing during the 1st quarter worth approximately $833,000. Finally, State Board of Administration of Florida Retirement System lifted its stake in 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 buying an additional 48,150 shares in the last quarter. Institutional investors own 95.23% of the company’s stock.

Wall Street Analysts Forecast Growth

MOD has been the subject of several research reports. B. Riley increased their price objective 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 started coverage on Modine Manufacturing in a research note on Monday, July 29th. They issued an “outperform” rating on the stock. DA Davidson boosted their price target on Modine Manufacturing from $140.00 to $155.00 and gave the company a “buy” rating in a report on Tuesday, September 24th. Finally, Oppenheimer reiterated an “outperform” rating and set a $135.00 price objective on shares of Modine Manufacturing in a report on Thursday, September 12th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $143.33.

Modine Manufacturing Stock Up 2.7 %

Modine Manufacturing stock opened at $134.38 on Friday. The company has a fifty day simple moving average of $113.58 and a 200 day simple moving average of $103.92. The company has a current ratio of 1.80, a quick ratio of 1.11 and a debt-to-equity ratio of 0.51. Modine Manufacturing has a 1-year low of $38.50 and a 1-year high of $138.99. The company has a market cap of $7.04 billion, a P/E ratio of 44.35, a price-to-earnings-growth ratio of 0.97 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, beating analysts’ consensus estimates of $0.86 by $0.18. The business had revenue of $661.50 million for the quarter, compared to the consensus estimate of $633.55 million. Modine Manufacturing had a return on equity of 24.92% and a net margin of 6.70%. Modine Manufacturing’s quarterly revenue was up 6.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.85 earnings per share. Research analysts anticipate that Modine Manufacturing will post 3.85 earnings per share for the current fiscal year.

Insider Activity

In other Modine Manufacturing news, Director Marsha C. Williams sold 34,400 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were 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 of the company’s stock, valued at approximately $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 SEC, which is available through this hyperlink. 2.40% of the stock is currently owned by insiders.

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.