SG Americas Securities LLC Reduces Stock Position in Modine Manufacturing (NYSE:MOD)

SG Americas Securities LLC cut its holdings in Modine Manufacturing (NYSE:MOD - Free Report) by 66.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,778 shares of the auto parts company's stock after selling 21,350 shares during the period. SG Americas Securities LLC's holdings in Modine Manufacturing were worth $1,431,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Acadian Asset Management LLC purchased a new position in Modine Manufacturing in the first quarter valued at about $37,000. Opal Wealth Advisors LLC purchased a new position in Modine Manufacturing in the second quarter valued at approximately $51,000. West Oak Capital LLC grew its holdings in Modine Manufacturing by 300.0% during the second quarter. West Oak Capital LLC now owns 600 shares of the auto parts company's stock valued at $60,000 after purchasing an additional 450 shares during the period. Fifth Third Bancorp purchased a new stake in Modine Manufacturing in the second quarter worth $64,000. Finally, DekaBank Deutsche Girozentrale bought a new stake in shares of Modine Manufacturing in the second quarter valued at $68,000. 95.23% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Marsha C. Williams sold 34,400 shares of Modine Manufacturing stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $109.74, for a total transaction of $3,775,056.00. Following the completion of the sale, the director now owns 144,038 shares in the company, valued at approximately $15,806,730.12. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 2.40% of the company's stock.

Modine Manufacturing Price Performance

Shares of Modine Manufacturing stock traded up $1.24 on Wednesday, reaching $134.01. The stock had a trading volume of 523,379 shares, compared to its average volume of 871,569. The business's 50 day moving average is $114.88 and its two-hundred day moving average is $104.39. The company has a current ratio of 1.80, a quick ratio of 1.11 and a debt-to-equity ratio of 0.51. Modine Manufacturing has a 1 year low of $38.50 and a 1 year high of $138.99. The company has a market cap of $7.02 billion, a P/E ratio of 44.14, a price-to-earnings-growth ratio of 0.97 and a beta of 2.22.

Modine Manufacturing (NYSE:MOD - Get Free Report) last announced its quarterly earnings results on Tuesday, July 30th. The auto parts company reported $1.04 EPS for the quarter, beating the consensus estimate of $0.86 by $0.18. The firm had revenue of $661.50 million during the quarter, compared to the consensus estimate of $633.55 million. Modine Manufacturing had a net margin of 6.70% and a return on equity of 24.92%. The business's quarterly revenue was up 6.3% compared to the same quarter last year. During the same period last year, the firm earned $0.85 EPS. As a group, research analysts anticipate that Modine Manufacturing will post 3.85 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on MOD. B. Riley increased their price target on Modine Manufacturing from $125.00 to $140.00 and gave the stock a "buy" rating in a research note on Thursday, August 1st. William Blair began coverage on shares of Modine Manufacturing in a research report on Monday, July 29th. They set an "outperform" rating for the company. Oppenheimer reissued an "outperform" rating and issued a $135.00 price target on shares of Modine Manufacturing in a research report on Thursday, September 12th. Finally, DA Davidson raised their price objective on shares of Modine Manufacturing from $140.00 to $155.00 and gave the stock a "buy" rating in a report on Tuesday, September 24th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $143.33.

Modine Manufacturing Company 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.