6,102 Shares in Modine Manufacturing Company $MOD Purchased by Hsbc Holdings PLC

Hsbc Holdings PLC acquired a new position in Modine Manufacturing Company (NYSE:MOD) during the second quarter, Holdings Channel.com reports. The institutional investor acquired 6,102 shares of the auto parts company’s stock, valued at approximately $1,622,000.

Several other institutional investors have also added to or reduced their stakes in the company. Wellington Management Group LLP lifted its stake in shares of Modine Manufacturing by 4.7% during the 4th quarter. Wellington Management Group LLP now owns 2,879,299 shares of the auto parts company’s stock worth $384,415,000 after acquiring an additional 130,511 shares during the last quarter. BlackRock Inc. purchased a new stake in Modine Manufacturing in the second quarter worth $765,540,000. Price T Rowe Associates Inc. MD increased its stake in Modine Manufacturing by 31.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,333,174 shares of the auto parts company’s stock worth $311,503,000 after purchasing an additional 560,131 shares during the period. Wasatch Advisors LP lifted its position in shares of Modine Manufacturing by 1.4% during the second quarter. Wasatch Advisors LP now owns 1,792,413 shares of the auto parts company’s stock worth $176,553,000 after purchasing an additional 23,955 shares during the last quarter. Finally, Capital Research Global Investors boosted its stake in shares of Modine Manufacturing by 13.8% during the fourth quarter. Capital Research Global Investors now owns 1,478,224 shares of the auto parts company’s stock valued at $197,358,000 after purchasing an additional 179,617 shares during the period. Institutional investors own 95.23% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. DA Davidson restated a “buy” rating and issued a $330.00 price target on shares of Modine Manufacturing in a report on Monday, June 22nd. Oppenheimer upped their target price on shares of Modine Manufacturing from $271.00 to $325.00 and gave the stock an “outperform” rating in a research note on Thursday, May 28th. Glj Research reaffirmed a “buy” rating and set a $428.00 target price on shares of Modine Manufacturing in a research report on Monday, June 1st. B. Riley Financial reaffirmed a “buy” rating and set a $305.00 price target (down from $340.00) on shares of Modine Manufacturing in a research note on Thursday, July 30th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Modine Manufacturing in a report on Tuesday, August 25th. Seven equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Modine Manufacturing has an average rating of “Moderate Buy” and a consensus target price of $320.14.

Modine Manufacturing Stock Performance

Shares of Modine Manufacturing stock opened at $177.47 on Monday. The company has a current ratio of 2.04, a quick ratio of 1.22 and a debt-to-equity ratio of 0.39. The stock’s fifty day moving average price is $222.05 and its 200-day moving average price is $235.54. The firm has a market cap of $9.43 billion, a P/E ratio of 66.72, a P/E/G ratio of 0.58 and a beta of 1.71. Modine Manufacturing Company has a 12 month low of $111.18 and a 12 month high of $323.25.

Modine Manufacturing (NYSE:MOD) last released its quarterly earnings data on Wednesday, July 29th. The auto parts company reported $1.53 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $878.69 million. During the same period in the prior year, the firm earned $0.95 earnings per share. The firm’s revenue for the quarter was up 28.0% compared to the same quarter last year. On average, equities research analysts expect that Modine Manufacturing Company will post 7.65 earnings per share for the current fiscal year.

Insider Transactions at Modine Manufacturing

In other 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 value of $4,328,100.00. Following the completion of the sale, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Brian Jon Agen sold 38,282 shares of the stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $295.17, for a total transaction of $11,299,697.94. Following the transaction, the vice president owned 66,343 shares in the company, valued at approximately $19,582,463.31. This represents a 36.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 54,302 shares of company stock valued at $15,928,759. Company insiders own 1.92% of the company’s stock.

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.