Glenmede Trust Co. NA Sells 3,860 Shares of Modine Manufacturing Company $MOD

Glenmede Trust Co. NA lowered its stake in Modine Manufacturing Company (NYSE:MOD) by 48.3% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,125 shares of the auto parts company’s stock after selling 3,860 shares during the quarter. Glenmede Trust Co. NA’s holdings in Modine Manufacturing were worth $894,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in MOD. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Modine Manufacturing by 26.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,223 shares of the auto parts company’s stock worth $2,857,000 after purchasing an additional 7,831 shares in the last quarter. California Public Employees Retirement System boosted its holdings in Modine Manufacturing by 8.3% in the 2nd quarter. California Public Employees Retirement System now owns 68,702 shares of the auto parts company’s stock worth $6,767,000 after buying an additional 5,244 shares during the period. State Street Corp boosted its holdings in Modine Manufacturing by 4.2% in the 2nd quarter. State Street Corp now owns 1,309,488 shares of the auto parts company’s stock worth $128,985,000 after buying an additional 53,351 shares during the period. Qube Research & Technologies Ltd increased its stake in Modine Manufacturing by 106.3% in the 2nd quarter. Qube Research & Technologies Ltd now owns 161,319 shares of the auto parts company’s stock worth $15,890,000 after buying an additional 83,105 shares in the last quarter. Finally, Sei Investments Co. increased its stake in Modine Manufacturing by 70.8% in the 2nd quarter. Sei Investments Co. now owns 309,653 shares of the auto parts company’s stock worth $30,501,000 after buying an additional 128,348 shares in the last quarter. 95.23% of the stock is currently owned by institutional investors.

Insider Activity at Modine Manufacturing

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 stock was sold at an average price of $295.17, for a total value of $11,299,697.94. Following the sale, the vice president owned 66,343 shares of the company’s stock, valued at $19,582,463.31. The trade was a 36.59% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Eric S. Mcginnis sold 1,020 shares of the company’s stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $295.06, for a total value of $300,961.20. Following the sale, the insider directly owned 28,364 shares in the company, valued at $8,369,081.84. This trade represents a 3.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 54,302 shares of company stock valued at $15,928,759. Insiders own 1.92% of the company’s stock.

Analyst Ratings Changes

MOD has been the topic of several research analyst reports. Zacks Research downgraded Modine Manufacturing from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 13th. KeyCorp cut their target price on Modine Manufacturing from $370.00 to $280.00 and set an “overweight” rating for the company in a research report on Thursday, July 30th. B. Riley Financial reissued a “buy” rating and set a $305.00 target price (down from $340.00) on shares of Modine Manufacturing in a research note on Thursday, July 30th. Weiss Ratings raised Modine Manufacturing from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, May 28th. Finally, DA Davidson reissued a “buy” rating and issued a $330.00 price target on shares of Modine Manufacturing in a report on Monday, June 22nd. Seven investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $320.14.

Modine Manufacturing Stock Down 0.7%

Shares of MOD stock opened at $193.16 on Friday. The company’s fifty day simple moving average is $250.63 and its two-hundred day simple moving average is $232.85. Modine Manufacturing Company has a 52 week low of $111.18 and a 52 week high of $323.25. The stock has a market cap of $10.26 billion, a P/E ratio of 72.61, a PEG ratio of 0.64 and a beta of 1.71. The company has a quick ratio of 1.22, a current ratio of 2.04 and a debt-to-equity ratio of 0.39.

Modine Manufacturing (NYSE:MOD) last issued its quarterly earnings data on Tuesday, July 28th. The auto parts company reported $1.53 earnings per share for the quarter, beating analysts’ consensus estimates of $1.27 by $0.26. Modine Manufacturing had a return on equity of 25.59% and a net margin of 4.28%.The firm had revenue of $874.10 million during the quarter, compared to analyst estimates of $878.69 million. During the same quarter last year, the business posted $0.95 earnings per share. The business’s quarterly revenue was up 28.0% compared to the same quarter last year. Analysts predict that Modine Manufacturing Company will post 7.65 EPS for the current fiscal 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.