The Manufacturers Life Insurance Company Has $3.12 Million Stock Holdings in Modine Manufacturing (NYSE:MOD)

The Manufacturers Life Insurance Company boosted its stake in Modine Manufacturing (NYSE:MOD) by 3.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 31,143 shares of the auto parts company’s stock after purchasing an additional 1,063 shares during the period. The Manufacturers Life Insurance Company owned about 0.06% of Modine Manufacturing worth $3,120,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. SG Americas Securities LLC increased its stake in shares of 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 buying an additional 24,312 shares during the period. Hennessy Advisors Inc. increased its position in Modine Manufacturing by 20.4% in the 1st quarter. Hennessy Advisors Inc. now owns 714,400 shares of the auto parts company’s stock valued at $68,004,000 after acquiring an additional 121,200 shares during the period. Fred Alger Management LLC raised its stake in shares of 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 valued at $37,054,000 after acquiring an additional 17,889 shares during the last quarter. Janney Montgomery Scott LLC acquired a new position in shares of Modine Manufacturing during the first quarter worth $833,000. Finally, State Board of Administration of Florida Retirement System grew 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 worth $5,982,000 after purchasing an additional 48,150 shares during the last quarter. Institutional investors and hedge funds own 95.23% of the company’s stock.

Insiders Place Their Bets

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 transaction of $3,775,056.00. Following the transaction, the director now owns 144,038 shares in the company, valued at approximately $15,806,730.12. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.40% of the company’s stock.

Modine Manufacturing Stock Down 0.5 %

Shares of NYSE:MOD opened at $132.77 on Wednesday. The business’s 50-day moving average is $114.20 and its 200-day moving average is $104.17. Modine Manufacturing has a 1 year low of $38.50 and a 1 year high of $138.99. The company has a market capitalization of $6.96 billion, a price-to-earnings ratio of 44.29, a P/E/G 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 (NYSE:MOD) last posted 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. The firm had revenue of $661.50 million for the quarter, compared to analysts’ expectations of $633.55 million. Modine Manufacturing had a return on equity of 24.92% and a net margin of 6.70%. The company’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.85 EPS. Equities research analysts predict that Modine Manufacturing will post 3.85 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have commented on MOD shares. B. Riley lifted their target price on Modine Manufacturing from $125.00 to $140.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Oppenheimer reaffirmed an “outperform” rating and issued a $135.00 price objective on shares of Modine Manufacturing in a research note on Thursday, September 12th. DA Davidson increased their target price on shares of Modine Manufacturing from $140.00 to $155.00 and gave the company a “buy” rating in a research report on Tuesday, September 24th. Finally, William Blair initiated coverage on shares of Modine Manufacturing in a research report on Monday, July 29th. They issued an “outperform” rating on the stock. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Modine Manufacturing has a consensus rating of “Moderate Buy” and an average target price of $143.33.

About Modine Manufacturing

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.