Livforsakringsbolaget Skandia Omsesidigt Buys 13,200 Shares of Modine Manufacturing (NYSE:MOD)

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

A number of other hedge funds have also recently added to or reduced their stakes in MOD. Swiss National Bank grew its holdings in Modine Manufacturing by 8.2% during the 1st quarter. Swiss National Bank now owns 122,600 shares of the auto parts company’s stock worth $1,105,000 after acquiring an additional 9,300 shares during the last quarter. Private Advisor Group LLC acquired a new stake in shares of Modine Manufacturing in the 1st quarter valued at approximately $431,000. Bank of Montreal Can raised its position in shares of Modine Manufacturing by 10.5% in the 1st quarter. Bank of Montreal Can now owns 14,294 shares of the auto parts company’s stock valued at $136,000 after acquiring an additional 1,363 shares during the period. MetLife Investment Management LLC raised its position in shares of Modine Manufacturing by 128.3% in the 1st quarter. MetLife Investment Management LLC now owns 22,893 shares of the auto parts company’s stock valued at $206,000 after acquiring an additional 12,864 shares during the period. Finally, BlackRock Inc. raised its position in shares of Modine Manufacturing by 3.7% in the 1st quarter. BlackRock Inc. now owns 4,066,537 shares of the auto parts company’s stock valued at $36,639,000 after acquiring an additional 144,771 shares during the period. Institutional investors own 95.23% of the company’s stock.

Insider Transactions at Modine Manufacturing

In other news, CFO Michael B. Lucareli sold 82,312 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $90.33, for a total transaction of $7,435,242.96. Following the completion of the transaction, the chief financial officer now directly owns 194,587 shares of the company’s stock, valued at approximately $17,577,043.71. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Michael B. Lucareli sold 82,312 shares of the firm’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $90.33, for a total value of $7,435,242.96. Following the completion of the transaction, the chief financial officer now directly owns 194,587 shares of the company’s stock, valued at $17,577,043.71. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Christopher William Patterson sold 14,225 shares of the firm’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $90.56, for a total transaction of $1,288,216.00. Following the completion of the transaction, the director now directly owns 97,517 shares of the company’s stock, valued at $8,831,139.52. The disclosure for this sale can be found here. Insiders sold 113,336 shares of company stock valued at $10,330,115 in the last ninety days. 2.86% of the stock is currently owned by corporate insiders.

Modine Manufacturing Stock Performance

Shares of MOD stock opened at $85.18 on Thursday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.21 and a current ratio of 1.93. The company has a market capitalization of $4.45 billion, a P/E ratio of 20.20, a price-to-earnings-growth ratio of 0.69 and a beta of 2.29. The company’s 50 day moving average price is $88.26 and its two-hundred day moving average price is $65.83. Modine Manufacturing has a 52 week low of $19.41 and a 52 week high of $106.01.

Modine Manufacturing (NYSE:MOD) last issued its quarterly earnings results on Tuesday, January 30th. The auto parts company reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.17. The company had revenue of $561.40 million during the quarter, compared to analysts’ expectations of $594.84 million. Modine Manufacturing had a net margin of 9.31% and a return on equity of 25.28%. The business’s quarterly revenue was up .2% on a year-over-year basis. During the same period last year, the business earned $0.48 EPS. On average, analysts expect that Modine Manufacturing will post 3.27 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Oppenheimer assumed coverage on shares of Modine Manufacturing in a research report on Tuesday, March 19th. They issued an “outperform” rating and a $105.00 price target on the stock. B. Riley reiterated a “buy” rating and issued a $98.00 price target (up from $88.00) on shares of Modine Manufacturing in a research report on Tuesday, February 27th. StockNews.com downgraded shares of Modine Manufacturing from a “buy” rating to a “hold” rating in a research report on Wednesday, January 31st. Finally, DA Davidson restated a “buy” rating and set a $90.00 target price on shares of Modine Manufacturing in a report on Tuesday, February 27th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, Modine Manufacturing currently has a consensus rating of “Moderate Buy” and a consensus target price of $97.67.

Modine Manufacturing 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.