Jefferies Financial Group Inc. Acquires New Shares in Modine Manufacturing Company $MOD

Jefferies Financial Group Inc. acquired a new position in shares of Modine Manufacturing Company (NYSE:MOD) in the 2nd quarter, HoldingsChannel.com reports. The fund acquired 4,006 shares of the auto parts company’s stock, valued at approximately $1,070,000.

A number of other institutional investors also recently bought and sold shares of the company. Public Employees Retirement System of Ohio acquired a new position in shares of Modine Manufacturing during the 2nd quarter worth $9,107,000. PenderFund Capital Management Ltd. acquired a new stake in Modine Manufacturing in the 2nd quarter valued at about $42,000. Corient Private Wealth LP acquired a new stake in Modine Manufacturing in the 2nd quarter valued at about $857,000. Panoramic Capital LLC purchased a new position in Modine Manufacturing during the 2nd quarter valued at about $3,435,000. Finally, Bank of America Corp DE purchased a new position in Modine Manufacturing during the 2nd quarter valued at about $94,726,000. 95.23% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. UBS Group lifted their target price on shares of Modine Manufacturing to $310.00 and gave the stock a “buy” rating in a research report on Wednesday, May 27th. Oppenheimer lifted their price objective on Modine Manufacturing from $271.00 to $325.00 and gave the stock an “outperform” rating in a research report on Thursday, May 28th. Glj Research reaffirmed a “buy” rating and issued a $428.00 target price on shares of Modine Manufacturing in a research note on Monday, June 1st. Weiss Ratings reiterated a “hold (c)” rating on shares of Modine Manufacturing in a report on Tuesday, August 25th. Finally, B. Riley Financial reissued a “buy” rating and set a $305.00 price target (down from $340.00) on shares of Modine Manufacturing in a research report on Thursday, July 30th. Seven analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $320.14.

Insider Buying and Selling

In other Modine Manufacturing news, VP Brian Jon Agen sold 38,282 shares of Modine Manufacturing stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $295.17, for a total value of $11,299,697.94. Following the completion of the sale, the vice president directly owned 66,343 shares of the company’s stock, valued at approximately $19,582,463.31. The trade was a 36.59% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Eric D. Ashleman sold 15,000 shares of the business’s stock in a transaction on 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 completion of the transaction, the director owned 42,350 shares of the company’s stock, valued at $12,219,669. This trade represents a 26.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 54,302 shares of company stock worth $15,928,759. 1.92% of the stock is owned by insiders.

Modine Manufacturing Price Performance

NYSE:MOD opened at $177.47 on Monday. Modine Manufacturing Company has a 12-month low of $111.18 and a 12-month high of $323.25. The firm has a market cap of $9.43 billion, a price-to-earnings ratio of 66.72, a price-to-earnings-growth ratio of 0.58 and a beta of 1.71. The company’s 50-day moving average is $222.05 and its two-hundred day moving average is $235.54. The company has a current ratio of 2.04, a quick ratio of 1.22 and a debt-to-equity ratio of 0.39.

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