71,492 Shares in Modine Manufacturing Company $MOD Bought by Front Street Capital Management Inc.

Front Street Capital Management Inc. acquired a new stake in Modine Manufacturing Company (NYSE:MOD) during the 2nd quarter, Holdings Channel reports. The institutional investor acquired 71,492 shares of the auto parts company’s stock, valued at approximately $19,090,000. Modine Manufacturing accounts for 2.2% of Front Street Capital Management Inc.’s portfolio, making the stock its 17th biggest position.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Optiver Holding B.V. boosted its position in shares of Modine Manufacturing by 19.7% in the first quarter. Optiver Holding B.V. now owns 237 shares of the auto parts company’s stock worth $51,000 after buying an additional 39 shares during the period. World Investment Advisors raised its holdings in shares of Modine Manufacturing by 4.1% during the 1st quarter. World Investment Advisors now owns 1,643 shares of the auto parts company’s stock valued at $356,000 after buying an additional 65 shares during the period. Xponance LLC lifted its position in Modine Manufacturing by 1.7% during the 4th quarter. Xponance LLC now owns 4,424 shares of the auto parts company’s stock worth $591,000 after acquiring an additional 75 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in Modine Manufacturing by 6.1% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,780 shares of the auto parts company’s stock worth $386,000 after acquiring an additional 103 shares during the period. Finally, NewEdge Advisors LLC grew its position in Modine Manufacturing by 18.3% in the fourth quarter. NewEdge Advisors LLC now owns 680 shares of the auto parts company’s stock valued at $91,000 after acquiring an additional 105 shares in the last quarter. Institutional investors and hedge funds own 95.23% of the company’s stock.

Modine Manufacturing Price Performance

Shares of MOD stock opened at $188.48 on Tuesday. The firm has a fifty day moving average of $230.48 and a two-hundred day moving average of $236.23. The firm has a market cap of $10.01 billion, a P/E ratio of 70.86, a P/E/G ratio of 0.65 and a beta of 1.71. Modine Manufacturing Company has a 1-year low of $111.18 and a 1-year high of $323.25. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.04 and a quick ratio of 1.22.

Modine Manufacturing (NYSE:MOD) last issued its earnings results on Wednesday, July 29th. The auto parts company reported $1.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.27 by $0.26. The business had revenue of $874.10 million for the quarter, compared to analyst estimates of $878.69 million. Modine Manufacturing had a net margin of 4.28% and a return on equity of 25.59%. The company’s revenue for the quarter was up 28.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.95 EPS. As a group, research analysts anticipate that Modine Manufacturing Company will post 7.65 earnings per share for the current fiscal year.

Insider Buying and Selling at Modine Manufacturing

In other Modine Manufacturing news, Director Eric D. Ashleman sold 15,000 shares of the stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $288.54, for a total transaction of $4,328,100.00. Following the transaction, the director owned 42,350 shares of the company’s stock, valued at $12,219,669. This trade represents a 26.16% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Brian Jon Agen sold 38,282 shares of Modine Manufacturing stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $295.17, for a total value of $11,299,697.94. Following the completion of the transaction, the vice president owned 66,343 shares of the company’s stock, valued at approximately $19,582,463.31. The trade was a 36.59% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 54,302 shares of company stock worth $15,928,759 over the last quarter. 1.92% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Glj Research restated a “buy” rating and issued a $428.00 target price on shares of Modine Manufacturing in a research note on Monday, June 1st. DA Davidson reissued a “buy” rating and issued a $330.00 price objective on shares of Modine Manufacturing in a research report on Monday, June 22nd. UBS Group raised their target price on Modine Manufacturing to $310.00 and gave the company a “buy” rating in a research note on Wednesday, May 27th. Oppenheimer lifted their target price on Modine Manufacturing from $271.00 to $325.00 and gave the stock an “outperform” rating in a research report on Thursday, May 28th. Finally, KeyCorp reduced their price target on Modine Manufacturing from $370.00 to $280.00 and set an “overweight” rating for the company in a report on Thursday, July 30th. Seven research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $320.14.

Modine Manufacturing Company 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.