US Bancorp DE Sells 729 Shares of Modine Manufacturing Company (NYSE:MOD)

US Bancorp DE reduced its holdings in Modine Manufacturing Company (NYSE:MOD) by 22.3% during the first quarter, Holdings Channel.com reports. The institutional investor owned 2,540 shares of the auto parts company’s stock after selling 729 shares during the quarter. US Bancorp DE’s holdings in Modine Manufacturing were worth $195,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. IFP Advisors Inc lifted its stake in shares of Modine Manufacturing by 14.2% in the 1st quarter. IFP Advisors Inc now owns 911 shares of the auto parts company’s stock valued at $70,000 after purchasing an additional 113 shares during the period. GAMMA Investing LLC lifted its stake in shares of Modine Manufacturing by 63.1% in the 1st quarter. GAMMA Investing LLC now owns 367 shares of the auto parts company’s stock valued at $28,000 after purchasing an additional 142 shares during the period. Summit Investment Advisors Inc. lifted its stake in shares of Modine Manufacturing by 2.8% in the 4th quarter. Summit Investment Advisors Inc. now owns 5,284 shares of the auto parts company’s stock valued at $613,000 after purchasing an additional 146 shares during the period. Mesirow Financial Investment Management Inc. lifted its stake in shares of Modine Manufacturing by 6.2% in the 1st quarter. Mesirow Financial Investment Management Inc. now owns 3,122 shares of the auto parts company’s stock valued at $241,000 after purchasing an additional 182 shares during the period. Finally, Bay Rivers Group lifted its stake in shares of Modine Manufacturing by 3.4% in the 1st quarter. Bay Rivers Group now owns 6,308 shares of the auto parts company’s stock valued at $484,000 after purchasing an additional 209 shares during the period. 95.23% of the stock is currently owned by institutional investors.

Modine Manufacturing Stock Down 0.5%

Shares of NYSE:MOD opened at $138.84 on Friday. The stock has a fifty day simple moving average of $107.62 and a two-hundred day simple moving average of $94.35. The stock has a market capitalization of $7.29 billion, a price-to-earnings ratio of 39.78, a PEG ratio of 0.89 and a beta of 2.12. Modine Manufacturing Company has a 12-month low of $64.79 and a 12-month high of $146.84. The company has a current ratio of 2.06, a quick ratio of 1.28 and a debt-to-equity ratio of 0.47.

Modine Manufacturing (NYSE:MOD) last announced its quarterly earnings data on Wednesday, July 30th. The auto parts company reported $1.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.13. The business had revenue of $682.80 million during the quarter, compared to analysts’ expectations of $653.80 million. Modine Manufacturing had a return on equity of 23.90% and a net margin of 7.21%. The firm’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.04 earnings per share. On average, research analysts anticipate that Modine Manufacturing Company will post 3.88 earnings per share for the current fiscal year.

Insider Buying and Selling at Modine Manufacturing

In other news, EVP Michael B. Lucareli sold 80,661 shares of the business’s stock in a transaction on Thursday, July 31st. The stock was sold at an average price of $128.33, for a total value of $10,351,226.13. Following the completion of the transaction, the executive vice president owned 66,920 shares in the company, valued at $8,587,843.60. The trade was a 54.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Marsha C. Williams sold 25,761 shares of the business’s stock in a transaction on Monday, August 11th. The stock was sold at an average price of $134.77, for a total value of $3,471,809.97. Following the completion of the transaction, the director owned 120,689 shares of the company’s stock, valued at $16,265,256.53. This represents a 17.59% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 200,561 shares of company stock worth $25,462,844. 2.48% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. KeyCorp raised their target price on Modine Manufacturing from $125.00 to $150.00 and gave the company an “overweight” rating in a research note on Thursday, July 31st. Oppenheimer raised their target price on Modine Manufacturing from $121.00 to $122.00 and gave the company an “outperform” rating in a research note on Tuesday, July 1st. Finally, Wall Street Zen cut Modine Manufacturing from a “buy” rating to a “hold” rating in a research note on Saturday, August 2nd.

Modine Manufacturing Profile

Modine Manufacturing Company provides thermal management products and solutions in the United States, Italy, Hungary, China, the United Kingdom, and internationally. It operates through Climate Solutions and Performance Technologies segments. The company offers heat transfer coils, including heat recovery and round tube plate fin coils; gas-fired, hydronic, electric and oilfired unit heaters; roof-mounted direct- and indirect-fired makeup air units; duct furnaces; infrared units; perimeter heating products; single packaged unit ventilators; modular chillers; air handler and condensing units; ceiling cassettes; evaporator unit coolers, remote condensers, fluid coolers, gas coolers, and dry and brine coolers; and motor and generator cooling coils, transformer oil coolers, radiators, dryers, and industrial heat exchangers.