Modine Manufacturing (NYSE:MOD) Shares Bought by Livforsakringsbolaget Skandia Omsesidigt

Livforsakringsbolaget Skandia Omsesidigt grew its position in shares of Modine Manufacturing (NYSE:MOD) by 159.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,500 shares of the auto parts company’s stock after purchasing an additional 13,200 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Modine Manufacturing were worth $1,284,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. raised its stake in shares of Modine Manufacturing by 966.7% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,472 shares of the auto parts company’s stock valued at $29,000 after acquiring an additional 1,334 shares in the last quarter. Point72 Middle East FZE acquired a new stake in shares of Modine Manufacturing in the fourth quarter valued at $31,000. Quantbot Technologies LP raised its stake in shares of Modine Manufacturing by 123.5% in the first quarter. Quantbot Technologies LP now owns 3,800 shares of the auto parts company’s stock valued at $34,000 after acquiring an additional 2,100 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in shares of Modine Manufacturing by 161.3% in the first quarter. Tower Research Capital LLC TRC now owns 1,680 shares of the auto parts company’s stock valued at $38,000 after acquiring an additional 1,037 shares in the last quarter. Finally, Harbour Investments Inc. raised its stake in shares of Modine Manufacturing by 154.1% in the second quarter. Harbour Investments Inc. now owns 1,245 shares of the auto parts company’s stock valued at $41,000 after acquiring an additional 755 shares in the last quarter. 95.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, VP Brian Jon Agen sold 16,799 shares of the firm’s stock in a transaction dated 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 owns 102,409 shares of the company’s stock, valued at $9,794,396.76. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Modine Manufacturing news, CFO Michael B. Lucareli sold 82,312 shares of Modine Manufacturing stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $90.33, for a total value of $7,435,242.96. Following the sale, the chief financial officer now owns 194,587 shares of the company’s stock, valued at approximately $17,577,043.71. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Brian Jon Agen sold 16,799 shares of Modine Manufacturing stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $95.64, for a total value of $1,606,656.36. Following the completion of the sale, the vice president now directly owns 102,409 shares in the company, valued at approximately $9,794,396.76. The disclosure for this sale can be found here. Insiders have sold a total of 113,336 shares of company stock valued at $10,330,115 over the last quarter. 2.86% of the stock is currently owned by insiders.

Analyst Ratings Changes

MOD has been the topic of several analyst reports. B. Riley reiterated a “buy” rating and issued a $98.00 price objective (up from $88.00) on shares of Modine Manufacturing in a research note on Tuesday, February 27th. StockNews.com cut Modine Manufacturing from a “buy” rating to a “hold” rating in a research note on Wednesday, January 31st. Oppenheimer initiated coverage on Modine Manufacturing in a research note on Tuesday, March 19th. They issued an “outperform” rating and a $105.00 price objective on the stock. Finally, DA Davidson restated a “buy” rating and issued a $90.00 price target on shares of Modine Manufacturing in a research note on Tuesday, February 27th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Modine Manufacturing currently has a consensus rating of “Moderate Buy” and a consensus price target of $97.67.

Modine Manufacturing Stock Performance

Shares of MOD stock opened at $85.18 on Thursday. The stock’s 50-day moving average is $88.26 and its two-hundred day moving average is $65.83. The firm has a market cap of $4.45 billion, a price-to-earnings ratio of 20.20, a PEG ratio of 0.69 and a beta of 2.29. Modine Manufacturing has a 1 year low of $19.41 and a 1 year high of $106.01. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.21 and a current ratio of 1.93.

Modine Manufacturing (NYSE:MOD) last issued its quarterly earnings data on Tuesday, January 30th. The auto parts company reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.17. The company had revenue of $561.40 million for the quarter, compared to analyst estimates of $594.84 million. Modine Manufacturing had a return on equity of 25.28% and a net margin of 9.31%. The business’s quarterly revenue was up .2% compared to the same quarter last year. During the same quarter last year, the company posted $0.48 earnings per share. Analysts predict that Modine Manufacturing will post 3.27 earnings per share for the current year.

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.