SG Americas Securities LLC Decreases Stake in Modine Manufacturing Company $MOD

SG Americas Securities LLC cut its stake in shares of Modine Manufacturing Company (NYSE:MOD) by 22.4% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 49,031 shares of the auto parts company’s stock after selling 14,133 shares during the quarter. SG Americas Securities LLC owned about 0.09% of Modine Manufacturing worth $10,626,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in MOD. Kemnay Advisory Services Inc. purchased a new stake in Modine Manufacturing during the fourth quarter worth about $25,000. Spire Wealth Management purchased a new position in Modine Manufacturing in the 4th quarter valued at approximately $27,000. Sunbelt Securities Inc. acquired a new position in Modine Manufacturing during the third quarter worth $39,000. Danske Bank A S acquired a new position in Modine Manufacturing during the third quarter worth $43,000. Finally, Root Financial Partners LLC boosted its position in Modine Manufacturing by 140.5% during the fourth quarter. Root Financial Partners LLC now owns 368 shares of the auto parts company’s stock worth $49,000 after purchasing an additional 215 shares in the last quarter. Hedge funds and other institutional investors own 95.23% of the company’s stock.

Insiders Place Their Bets

In related news, Director Eric D. Ashleman sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $288.54, for a total transaction of $4,328,100.00. Following the transaction, the director owned 42,350 shares of the company’s stock, valued at approximately $12,219,669. This represents a 26.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Brian Jon Agen sold 38,282 shares of the firm’s stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $295.17, for a total transaction of $11,299,697.94. Following the sale, the vice president owned 66,343 shares in the company, valued at approximately $19,582,463.31. This trade represents a 36.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 54,302 shares of company stock valued at $15,928,759 in the last ninety days. Insiders own 2.48% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on MOD. Weiss Ratings raised Modine Manufacturing from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, May 28th. B. Riley Financial lifted their price target on Modine Manufacturing from $250.00 to $264.00 and gave the stock a “buy” rating in a research note on Tuesday, May 26th. UBS Group boosted their price objective on shares of Modine Manufacturing to $310.00 and gave the stock a “buy” rating in a research report on Wednesday, May 27th. Wall Street Zen raised shares of Modine Manufacturing from a “hold” rating to a “buy” rating in a research note on Saturday, May 30th. Finally, Zacks Research downgraded shares of Modine Manufacturing from a “strong-buy” rating to a “hold” rating in a report on Monday, April 13th. Seven analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, Modine Manufacturing has an average rating of “Moderate Buy” and a consensus target price of $327.14.

Modine Manufacturing Stock Down 9.8%

Shares of NYSE:MOD opened at $255.80 on Friday. The company has a quick ratio of 1.25, a current ratio of 1.94 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $13.51 billion, a P/E ratio of 114.20, a P/E/G ratio of 0.92 and a beta of 1.65. Modine Manufacturing Company has a 52-week low of $86.48 and a 52-week high of $323.25. The stock’s fifty day simple moving average is $270.27 and its 200-day simple moving average is $213.85.

Modine Manufacturing (NYSE:MOD) last posted its quarterly earnings data on Tuesday, May 26th. The auto parts company reported $1.71 EPS for the quarter, topping analysts’ consensus estimates of $1.51 by $0.20. Modine Manufacturing had a return on equity of 24.39% and a net margin of 3.82%.The firm had revenue of $954.40 million during the quarter, compared to analysts’ expectations of $920.67 million. During the same quarter last year, the business posted $1.12 EPS. The firm’s quarterly revenue was up 47.5% compared to the same quarter last year. As a group, equities research analysts forecast that Modine Manufacturing Company will post 7.73 earnings per share for the current fiscal year.

Modine Manufacturing Company Profile

Modine Manufacturing Company (NYSE:MOD) is a global provider of thermal management solutions serving automotive, commercial transportation, heavy-duty off-highway, industrial, HVAC and refrigeration markets. The company designs, manufactures, tests and markets a broad array of heat-transfer products that manage temperature and energy efficiency for engines, power electronics and building climate control systems.

Its product portfolio includes heat exchangers, condensers, radiators, evaporators, charge air coolers, fan systems and associated controls.