According to the most recent Form 13F that the company has filed with the Securities and Exchange Commission, during the third quarter of 2018, Strs Ohio reduced its holdings in Modine Manufacturing (NYSE: MOD) by 20.8%. The corporation was left in possession of 47,900 shares in the auto parts company after selling 12,600 shares throughout the period in question. After the most recent reporting period, Strs Ohio owned a total of 619 thousand dollars worth of Modine Manufacturing shares, equivalent to approximately 0.09% of the company.
Recent transactions have resulted in several institutional investors and other hedge funds modifying the amount of the company’s stock that they currently hold in their portfolios. The increase in Quantbot Technologies LP’s ownership stake in Modine Manufacturing that occurred during the first three months of 2018 was 123.5 percent. Quantbot Technologies LP now has 3,800 shares of the auto parts company’s stock, valued at $34,000, thanks to purchasing an additional 2,100 shares during the period in question. By purchasing a greater number of shares of Modine Manufacturing during the second quarter, Captrust Financial Advisors was able to increase the size of its stock holdings by 374.5%. Following the acquisition of a further 3,760 shares during the period in question, Captrust Financial Advisors now possesses a total of 4,764 shares of the stock held by the auto parts company. The aggregate value of these shares is $50,000. US Bancorp DE increased the amount of Modine Manufacturing stock owned by 71.4% during the second quarter of the fiscal year. After making an additional purchase of 3,108 shares during the period, US Bancorp DE now has 4,921 shares of the auto parts company’s stock, which are currently valued at $52,000. This is because US Bancorp DE purchased these shares during the period. Point72 Hong Kong Ltd. increased the amount of Modine Manufacturing stock owned by 2,351.1% over the second quarter of 2018. Point72 Hong Kong Ltd recently purchased an additional 5,478 shares of the auto parts company’s stock, bringing the total number of shares owned by the company to 5,711, valued at $60,000.Amalgamated Bank added a new holding in Modine Manufacturing during the year’s first three months. The value of this new holding was approximately $57,000. This brings us to our last point. Institutional investors own the vast majority of the company’s stock, which accounts for 89.09% of the total value of the company’s outstanding shares.
There have been several research professionals who have provided their feedback regarding the MOD stock. Modine Manufacturing was downgraded from a “strong-buy” recommendation to a “buy” rating in a research report made available to the public on Friday, November 4, by StockNews.com. The report was published on the website. On December 6, CJS Securities announced in a research note that they would start covering shares of Modine Manufacturing. The announcement came the previous day, on Tuesday. They recommended that investors “outperform” the stock. TheStreet raised its recommendation on shares of Modine Manufacturing from a “c+” rating, which it had previously held, to a “b-” rating in a research report published on Thursday, November 3. On Tuesday, EF Hutton Acquisition Company started following the stock of Modine Manufacturing and published their findings in a research note about the company. They suggested “buying” the stock and established a price target of $32.00 for the company’s share price.
On November 7, the Chief Financial Officer of the company, Michael B. Lucareli, sold 60,000 shares of the company’s stock. Related developments have occurred. A total of $1,174,800.00 was received for the sale of the shares, which works out to an average selling price of $19.58 per share. The chief financial officer now has direct ownership of 293,287 shares of the company’s stock, which have a value of $5,742,559.46 as a direct result of the transaction. Follow the link, which will take you to a filing submitted to the Securities and Exchange Commission. You will have the opportunity to acquire additional information regarding the transaction. Corporate insiders own a total of 3.06% of the currently outstanding shares.
On Wednesday, the market opened at $22.44 for MOD stock on the NYSE. Over the past 50 days, the price of a share of the company’s stock has increased to $20.88, while the average price over the previous 200 days has been $16.80. All the financial ratios, including the debt-to-equity ratio, the current ratio, and the quick ratio, are equal to 0.97. 1.58 is the value of the current ratio, and 0.97 is the value of the quick ratio. Stock characteristics include a price-to-earnings ratio of 9.76, a price-to-earnings-growth ratio of 0.53, and a beta value of 2.27. The company currently has a market capitalization of $1.17 billion on the NYSE. Over the past 50 days, the price of a share of the company’s stock has increased to $20.88, while the average price over the previous 200 days has been $16.80. All the financial ratios, including the debt-to-equity ratio, the current ratio, and the quick ratio, are equal to 0.97. 1.58 is the value of the current ratio, and 0.97 is the value of the quick ratio. Stock characteristics include a price-to-earnings ratio of 9.76, a price-to-earnings-growth ratio of 0.53, and a beta value of 2.27. The company currently has a market capitalization of $1.17 billion. Over the previous year, Modine Manufacturing has traded at a range of prices, with $7.67 representing its all-time low and $23.57 representing its all-time high.
The most recent quarterly earnings report, which was reported on November 2 and made public on the same day, was for Modine Manufacturing and was for the period ending September 30. The company that produces vehicle components reported earnings per share for the quarter of $0.48, which was $0.11 more than the average estimate of $0.37 from analysts. The company’s primary market is the automotive industry. However, the actual revenue that the company brought in for the quarter was $578.80 million, which was significantly higher than the $545.10 million that analysts anticipated it would bring in. As can be seen, by their healthy net margin of 5.52% and their 19.79% return on equity, Modine Manufacturing did quite well. During the current fiscal year, Modine Manufacturing is expected to generate earnings of $1.75 per share, by forecasts provided by specialists in the relevant industry.
The Modine Manufacturing Company designs and produces engineered heat transfer systems and parts for use in on- and off-highway original equipment manufacturer (OEM) vehicle applications. These systems and parts are used in both on- and off-road transportation. These parts and systems are designed to transmit heat efficiently to their destinations. Performance Technologies and Climate Solutions are the two primary foci of the company’s commercial activities. Unit heaters can be purchased with several different fuel types, including gas, hydronic, electric, and oil. In addition, there are indoor and outdoor duct furnaces, infrared units, perimeter heating products such as commercial fin-tube radiation, cabinet unit heaters and convectors, unit ventilators, single-packaged vertical units, precision air conditioning units for data center applications, fan walls, chillers, ceiling cassettes, and hybrid fans. All of these products can be found in the marketplace today.
Source: news.google.com
