Panoramic Capital LLC Purchases New Stake in Modine Manufacturing Company $MOD

Panoramic Capital LLC acquired a new position in Modine Manufacturing Company (NYSE:MOD) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 12,866 shares of the auto parts company’s stock, valued at approximately $3,435,000. Modine Manufacturing accounts for about 1.5% of Panoramic Capital LLC’s portfolio, making the stock its 21st largest position.

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

Analysts Set New Price Targets

A number of brokerages recently issued reports on MOD. Oppenheimer boosted their price objective on Modine Manufacturing from $271.00 to $325.00 and gave the company an “outperform” rating in a research note on Thursday, May 28th. B. Riley Financial restated a “buy” rating and set a $305.00 price target (down from $340.00) on shares of Modine Manufacturing in a research note on Thursday, July 30th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Modine Manufacturing in a report on Tuesday. UBS Group raised their price target on Modine Manufacturing to $310.00 and gave the stock a “buy” rating in a report on Wednesday, May 27th. Finally, DA Davidson reiterated a “buy” rating and set a $330.00 price objective on shares of Modine Manufacturing in a research note on Monday, June 22nd. Seven research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $320.14.

Modine Manufacturing Stock Performance

NYSE MOD opened at $187.25 on Thursday. 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. The stock has a market capitalization of $9.94 billion, a PE ratio of 70.39, a P/E/G ratio of 0.61 and a beta of 1.71. The company’s 50 day simple moving average is $226.58 and its two-hundred day simple moving average is $236.03.

Modine Manufacturing (NYSE:MOD) last released its quarterly earnings results on Wednesday, July 29th. The auto parts company reported $1.53 EPS for the quarter, beating analysts’ consensus estimates of $1.27 by $0.26. The firm had revenue of $874.10 million during 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 business’s revenue for the quarter was up 28.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.95 EPS. Analysts predict that Modine Manufacturing Company will post 7.65 earnings per share for the current fiscal year.

Insider Activity at Modine Manufacturing

In other Modine Manufacturing news, Director Eric D. Ashleman sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $288.54, for a total value of $4,328,100.00. Following the sale, 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 legal filing with the SEC, which is available at this link. Also, VP Brian Jon Agen sold 38,282 shares of Modine Manufacturing stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $295.17, for a total value of $11,299,697.94. Following the sale, the vice president 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 position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 54,302 shares of company stock valued at $15,928,759. Company insiders own 1.92% of the company’s stock.

About Modine Manufacturing

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.