3,823 Shares in Modine Manufacturing Company $MOD Purchased by OP Asset Management Ltd

OP Asset Management Ltd acquired a new position in shares of Modine Manufacturing Company (NYSE:MOD) during the 1st quarter, Holdings Channel reports. The fund acquired 3,823 shares of the auto parts company’s stock, valued at approximately $828,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in MOD. Kemnay Advisory Services Inc. bought a new stake in shares of Modine Manufacturing in the 4th quarter valued at approximately $25,000. Spire Wealth Management bought a new position in shares of Modine Manufacturing during the 4th quarter valued at approximately $27,000. Sunbelt Securities Inc. bought a new position in shares of Modine Manufacturing during the 3rd quarter valued at approximately $39,000. Danske Bank A S purchased a new stake in Modine Manufacturing during the 3rd quarter valued at $43,000. Finally, Root Financial Partners LLC raised its holdings in Modine Manufacturing by 140.5% during the 4th quarter. Root Financial Partners LLC now owns 368 shares of the auto parts company’s stock valued at $49,000 after buying an additional 215 shares during the period. 95.23% of the stock is currently owned by hedge funds and other institutional investors.

Modine Manufacturing Price Performance

MOD opened at $256.46 on Tuesday. The business has a fifty day moving average of $270.70 and a 200 day moving average of $215.01. The stock has a market cap of $13.55 billion, a P/E ratio of 114.49, a PEG ratio of 0.83 and a beta of 1.65. The company has a quick ratio of 1.25, a current ratio of 1.94 and a debt-to-equity ratio of 0.32. Modine Manufacturing Company has a 52-week low of $86.48 and a 52-week high of $323.25.

Modine Manufacturing (NYSE:MOD) last released its earnings results on Tuesday, May 26th. The auto parts company reported $1.71 earnings per share for the quarter, topping analysts’ consensus estimates of $1.51 by $0.20. Modine Manufacturing had a return on equity of 24.39% and a net margin of 3.82%.The business had revenue of $954.40 million for the quarter, compared to analyst estimates of $920.67 million. During the same quarter last year, the firm posted $1.12 earnings per share. The business’s revenue was up 47.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Modine Manufacturing Company will post 7.73 EPS for the current year.

Analyst Upgrades and Downgrades

MOD has been the subject of several recent analyst reports. DA Davidson reaffirmed a “buy” rating and set a $330.00 price objective on shares of Modine Manufacturing in a research note on Monday, June 22nd. Weiss Ratings raised shares of Modine Manufacturing from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, May 28th. UBS Group raised their target price on shares of Modine Manufacturing to $310.00 and gave the stock a “buy” rating in a report on Wednesday, May 27th. B. Riley Financial lifted their price target on shares of Modine Manufacturing from $250.00 to $264.00 and gave the stock a “buy” rating in a research note on Tuesday, May 26th. Finally, Zacks Research downgraded shares of Modine Manufacturing from a “strong-buy” rating to a “hold” rating in a report on Monday, April 13th. Seven investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, Modine Manufacturing currently has an average rating of “Moderate Buy” and an average price target of $327.14.

Insider Buying and Selling

In related news, insider Eric S. Mcginnis sold 1,020 shares of Modine Manufacturing stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $295.06, for a total transaction of $300,961.20. Following the completion of the sale, the insider owned 28,364 shares in the company, valued at $8,369,081.84. This trade represents a 3.47% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Brian Jon Agen sold 38,282 shares of the business’s stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $295.17, for a total transaction of $11,299,697.94. Following the completion of the sale, the vice president directly owned 66,343 shares of the company’s stock, valued at approximately $19,582,463.31. This trade represents a 36.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 54,302 shares of company stock valued at $15,928,759 in the last 90 days. Company insiders own 2.48% of the company’s stock.

Modine Manufacturing Profile

Modine Manufacturing Company (NYSE:MOD) is a global provider of thermal management solutions serving automotive, commercial transportation, heavy-duty off-highway, industrial, HVAC and refrigeration markets. The company designs, manufactures, tests and markets a broad array of heat-transfer products that manage temperature and energy efficiency for engines, power electronics and building climate control systems.

Its product portfolio includes heat exchangers, condensers, radiators, evaporators, charge air coolers, fan systems and associated controls.