Hsbc Holdings PLC Sells 7,150 Shares of Modine Manufacturing (NYSE:MOD)

Hsbc Holdings PLC lessened its holdings in Modine Manufacturing (NYSE:MOD) by 73.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,530 shares of the auto parts company’s stock after selling 7,150 shares during the period. Hsbc Holdings PLC’s holdings in Modine Manufacturing were worth $253,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in shares of Modine Manufacturing by 27.3% during the 1st quarter. Vanguard Group Inc. now owns 3,909,016 shares of the auto parts company’s stock valued at $372,099,000 after purchasing an additional 838,460 shares during the last quarter. Capital International Investors grew its stake in shares of Modine Manufacturing by 40.6% during the first quarter. Capital International Investors now owns 1,425,845 shares of the auto parts company’s stock worth $135,726,000 after buying an additional 411,946 shares during the last quarter. Emerald Advisers LLC acquired a new position in shares of Modine Manufacturing during the second quarter worth $26,064,000. F M Investments LLC bought a new position in shares of Modine Manufacturing in the 2nd quarter valued at $22,600,000. Finally, Emerald Mutual Fund Advisers Trust acquired a new stake in shares of Modine Manufacturing during the 2nd quarter valued at $21,340,000. Institutional investors and hedge funds own 95.23% of the company’s stock.

Wall Street Analyst Weigh In

MOD has been the subject of several research reports. DA Davidson increased their target price on Modine Manufacturing from $140.00 to $155.00 and gave the company a “buy” rating in a research report on Tuesday, September 24th. B. Riley lifted their target price on shares of Modine Manufacturing from $125.00 to $140.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Oppenheimer restated an “outperform” rating and issued a $135.00 price target on shares of Modine Manufacturing in a research report on Thursday, September 12th. Finally, William Blair initiated coverage on shares of Modine Manufacturing in a report on Monday, July 29th. They set an “outperform” rating on the stock. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Modine Manufacturing presently has an average rating of “Moderate Buy” and an average target price of $143.33.

Insider Buying and Selling at Modine Manufacturing

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 value of $3,775,056.00. Following the completion of the transaction, the director now directly owns 144,038 shares of the company’s stock, valued at approximately $15,806,730.12. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 2.40% of the company’s stock.

Modine Manufacturing Stock Performance

Shares of MOD stock opened at $134.35 on Friday. The stock has a market capitalization of $7.04 billion, a PE ratio of 44.34, a PEG ratio of 0.97 and a beta of 2.22. The business’s 50 day simple moving average is $113.58 and its 200 day simple moving average is $103.85. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.80 and a quick ratio of 1.11. Modine Manufacturing has a one year low of $38.50 and a one year high of $138.99.

Modine Manufacturing (NYSE:MOD) last posted its quarterly earnings data on Tuesday, July 30th. The auto parts company reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $0.86 by $0.18. Modine Manufacturing had a net margin of 6.70% and a return on equity of 24.92%. The company had revenue of $661.50 million for the quarter, compared to analyst estimates of $633.55 million. During the same period in the prior year, the firm posted $0.85 EPS. The company’s quarterly revenue was up 6.3% on a year-over-year basis. As a group, research analysts forecast that Modine Manufacturing will post 3.85 earnings per share for the current year.

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.