Intrust Bank NA Invests $282,000 in Modine Manufacturing (NYSE:MOD)

Intrust Bank NA acquired a new position in shares of Modine Manufacturing (NYSE:MOD) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 4,717 shares of the auto parts company’s stock, valued at approximately $282,000.

Other large investors have also added to or reduced their stakes in the company. SummerHaven Investment Management LLC grew its stake in Modine Manufacturing by 0.9% in the 4th quarter. SummerHaven Investment Management LLC now owns 20,895 shares of the auto parts company’s stock valued at $1,247,000 after buying an additional 192 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in Modine Manufacturing by 51.8% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,172 shares of the auto parts company’s stock worth $70,000 after purchasing an additional 400 shares during the period. Jennison Associates LLC grew its holdings in Modine Manufacturing by 3.3% during the 4th quarter. Jennison Associates LLC now owns 15,233 shares of the auto parts company’s stock valued at $909,000 after buying an additional 493 shares in the last quarter. PNC Financial Services Group Inc. increased its position in shares of Modine Manufacturing by 49.9% during the third quarter. PNC Financial Services Group Inc. now owns 2,206 shares of the auto parts company’s stock valued at $101,000 after buying an additional 734 shares during the period. Finally, Strs Ohio increased its holdings in Modine Manufacturing by 28.6% during the 4th quarter. Strs Ohio now owns 3,600 shares of the auto parts company’s stock worth $214,000 after acquiring an additional 800 shares during the period. Hedge funds and other institutional investors own 95.23% of the company’s stock.

Wall Street Analysts Forecast Growth

MOD has been the topic of several research analyst reports. B. Riley reaffirmed a “buy” rating and issued a $98.00 price target (up previously from $88.00) on shares of Modine Manufacturing in a report on Tuesday, February 27th. Oppenheimer started coverage on Modine Manufacturing in a research note on Tuesday, March 19th. They issued an “outperform” rating and a $105.00 target price on the stock. DA Davidson reiterated a “buy” rating and set a $90.00 price target on shares of Modine Manufacturing in a research report on Tuesday, February 27th. Finally, StockNews.com cut shares of Modine Manufacturing from a “buy” rating to a “hold” rating in a research report on Wednesday, January 31st. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $97.67.

Modine Manufacturing Stock Down 0.4 %

MOD opened at $92.28 on Thursday. The company has a quick ratio of 1.21, a current ratio of 1.93 and a debt-to-equity ratio of 0.43. The business’s fifty day simple moving average is $91.00 and its 200 day simple moving average is $68.84. Modine Manufacturing has a 52 week low of $19.41 and a 52 week high of $106.01. The stock has a market cap of $4.82 billion, a PE ratio of 21.76, a P/E/G ratio of 0.71 and a beta of 2.28.

Modine Manufacturing (NYSE:MOD) last announced its quarterly earnings data on Tuesday, January 30th. The auto parts company reported $0.74 EPS for the quarter, beating the consensus estimate of $0.57 by $0.17. The firm had revenue of $561.40 million for the quarter, compared to analyst estimates of $594.84 million. Modine Manufacturing had a return on equity of 25.28% and a net margin of 9.31%. The company’s revenue was up .2% on a year-over-year basis. During the same period in the prior year, the company earned $0.48 EPS. As a group, research analysts expect that Modine Manufacturing will post 3.27 earnings per share for the current fiscal year.

Insider Buying and Selling at Modine Manufacturing

In other news, CFO Michael B. Lucareli sold 82,312 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $90.33, for a total value of $7,435,242.96. Following the completion of the sale, the chief financial officer now directly owns 194,587 shares in the company, valued at approximately $17,577,043.71. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CFO Michael B. Lucareli sold 82,312 shares of the firm’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $90.33, for a total transaction of $7,435,242.96. Following the transaction, the chief financial officer now directly owns 194,587 shares of the company’s stock, valued at $17,577,043.71. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Brian Jon Agen sold 16,799 shares of the stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $95.64, for a total value of $1,606,656.36. Following the sale, the vice president now owns 102,409 shares of the company’s stock, valued at $9,794,396.76. The disclosure for this sale can be found here. Insiders have sold 113,336 shares of company stock worth $10,330,115 over the last ninety days. Insiders own 2.86% of the company’s stock.

Modine Manufacturing Company Profile

Modine Manufacturing Company provides engineered heat transfer systems and heat transfer components for use in on- and off-highway original equipment manufacturer (OEM) vehicular applications. It operates through Climate Solutions and Performance Technologies segments. The company offers gas-fired, hydronic, electric, and oil-fired unit heaters; indoor and outdoor duct furnaces; infrared units; perimeter heating products, such as commercial fin-tube radiation, cabinet unit heaters, and convectors; roof-mounted direct- and indirect-fired makeup air units; unit ventilators; single packaged vertical units; precision air conditioning units for data center applications; air handler units; fan walls; chillers; ceiling cassettes; hybrid fan coils; and condensers and condensing units.