Hudson Bay Capital Management LP Reduces Stock Position in Modine Manufacturing Company $MOD

Hudson Bay Capital Management LP lessened its stake in Modine Manufacturing Company (NYSE:MOD) by 41.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 101,581 shares of the auto parts company’s stock after selling 71,836 shares during the quarter. Hudson Bay Capital Management LP owned about 0.19% of Modine Manufacturing worth $14,441,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Allworth Financial LP boosted its stake in Modine Manufacturing by 38.8% during the third quarter. Allworth Financial LP now owns 1,002 shares of the auto parts company’s stock worth $142,000 after buying an additional 280 shares during the last quarter. IFP Advisors Inc increased its stake in shares of Modine Manufacturing by 25.6% in the 3rd quarter. IFP Advisors Inc now owns 887 shares of the auto parts company’s stock worth $126,000 after acquiring an additional 181 shares during the last quarter. Swiss Life Asset Management Ltd acquired a new stake in shares of Modine Manufacturing in the 3rd quarter worth $321,000. Penn Capital Management Company LLC purchased a new position in shares of Modine Manufacturing during the 3rd quarter worth $14,925,000. Finally, CIBC Bancorp USA Inc. purchased a new position in shares of Modine Manufacturing during the 3rd quarter worth $795,000. Hedge funds and other institutional investors own 95.23% of the company’s stock.

Analyst Upgrades and Downgrades

MOD has been the subject of a number of analyst reports. Wall Street Zen lowered shares of Modine Manufacturing from a “buy” rating to a “hold” rating in a report on Sunday, February 22nd. Zacks Research raised shares of Modine Manufacturing from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 30th. Weiss Ratings reiterated a “hold (c)” rating on shares of Modine Manufacturing in a report on Monday, December 29th. DA Davidson increased their price target on shares of Modine Manufacturing from $255.00 to $265.00 and gave the company a “buy” rating in a research note on Monday, February 9th. Finally, UBS Group began coverage on shares of Modine Manufacturing in a report on Thursday, November 20th. They set a “buy” rating and a $173.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $223.20.

Modine Manufacturing Stock Up 0.1%

Shares of NYSE:MOD opened at $200.68 on Friday. The business has a 50-day moving average price of $189.28 and a 200 day moving average price of $161.46. The company has a current ratio of 2.19, a quick ratio of 1.28 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $10.58 billion, a price-to-earnings ratio of 111.49, a PEG ratio of 1.22 and a beta of 1.67. Modine Manufacturing Company has a 12-month low of $64.79 and a 12-month high of $243.80.

Modine Manufacturing (NYSE:MOD) last posted its earnings results on Wednesday, February 4th. The auto parts company reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.20. The company had revenue of $805.00 million for the quarter, compared to analysts’ expectations of $763.54 million. Modine Manufacturing had a net margin of 3.40% and a return on equity of 22.99%. Modine Manufacturing’s revenue for the quarter was up 30.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.92 earnings per share. Sell-side analysts expect that Modine Manufacturing Company will post 3.88 EPS for the current year.

Insider Activity

In other news, Director Suresh V. Garimella sold 1,100 shares of the company’s stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $184.07, for a total value of $202,477.00. Following the transaction, the director directly owned 79,856 shares in the company, valued at approximately $14,699,093.92. This represents a 1.36% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 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.