William Blair Investment Management LLC Buys New Position in Modine Manufacturing Company $MOD

William Blair Investment Management LLC bought a new stake in shares of Modine Manufacturing Company (NYSE:MOD) in the 2nd quarter, HoldingsChannel reports. The firm bought 213,929 shares of the auto parts company’s stock, valued at approximately $57,123,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. V Square Quantitative Management LLC bought a new position in shares of Modine Manufacturing in the 1st quarter worth $25,000. Rakuten Securities Inc. bought a new stake in shares of Modine Manufacturing during the 2nd quarter worth $40,000. Kemnay Advisory Services Inc. bought a new stake in shares of Modine Manufacturing during the 4th quarter worth $25,000. Optiver Holding B.V. grew its position in Modine Manufacturing by 19.7% in the first quarter. Optiver Holding B.V. now owns 237 shares of the auto parts company’s stock worth $51,000 after acquiring an additional 39 shares in the last quarter. Finally, Keating Financial Advisory Services Inc. purchased a new position in Modine Manufacturing in the second quarter worth $65,000. Hedge funds and other institutional investors own 95.23% of the company’s stock.

Insider Buying and Selling at Modine Manufacturing

In other Modine Manufacturing news, Director Eric D. Ashleman sold 15,000 shares of the business’s stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $288.54, for a total value of $4,328,100.00. Following the transaction, the director owned 42,350 shares in the company, valued at approximately $12,219,669. The trade was a 26.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Eric S. Mcginnis sold 1,020 shares of the company’s stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $295.06, for a total transaction of $300,961.20. Following the transaction, the insider directly owned 28,364 shares of the company’s stock, valued at approximately $8,369,081.84. This trade represents a 3.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 54,302 shares of company stock valued at $15,928,759 in the last quarter. Company insiders own 1.92% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on MOD shares. Wall Street Zen cut Modine Manufacturing from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. Glj Research reaffirmed a “buy” rating and set a $428.00 price target on shares of Modine Manufacturing in a research note on Monday, June 1st. DA Davidson reiterated a “buy” rating and issued a $330.00 price objective on shares of Modine Manufacturing in a report on Monday, June 22nd. Oppenheimer increased their price objective on Modine Manufacturing from $271.00 to $325.00 and gave the company an “outperform” rating in a research report on Thursday, May 28th. Finally, UBS Group raised their price objective on Modine Manufacturing to $310.00 and gave the company a “buy” rating in a report on Wednesday, May 27th. Seven investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $320.14.

Modine Manufacturing Stock Performance

NYSE:MOD opened at $198.03 on Friday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.22 and a current ratio of 2.04. Modine Manufacturing Company has a fifty-two week low of $111.18 and a fifty-two week high of $323.25. The firm has a market cap of $10.52 billion, a PE ratio of 74.45, a price-to-earnings-growth ratio of 0.62 and a beta of 1.71. The business has a 50 day moving average price of $232.44 and a 200-day moving average price of $236.03.

Modine Manufacturing (NYSE:MOD) last issued its earnings results on Wednesday, July 29th. The auto parts company reported $1.53 EPS for the quarter, topping the consensus estimate of $1.27 by $0.26. Modine Manufacturing had a net margin of 4.28% and a return on equity of 25.59%. The company had revenue of $874.10 million for the quarter, compared to the consensus estimate of $878.69 million. During the same period in the previous year, the firm earned $0.95 earnings per share. The firm’s revenue for the quarter was up 28.0% on a year-over-year basis. Equities research analysts predict that Modine Manufacturing Company will post 7.65 earnings per share for the current year.

About Modine Manufacturing

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.