Polymer Capital Management HK LTD Invests $8.66 Million in Modine Manufacturing Company $MOD

Polymer Capital Management HK LTD acquired a new position in shares of Modine Manufacturing Company (NYSE:MOD) in the 2nd quarter, HoldingsChannel reports. The firm acquired 32,442 shares of the auto parts company’s stock, valued at approximately $8,663,000.

Several other large investors also recently made changes to their positions in MOD. Lazard Asset Management LLC bought a new position in shares of Modine Manufacturing in the first quarter worth about $1,722,000. Ranger Investment Management L.P. bought a new stake in shares of Modine Manufacturing during the first quarter valued at approximately $15,557,000. Robinhood Asset Management LLC acquired a new stake in shares of Modine Manufacturing in the second quarter valued at approximately $8,848,000. Allspring Global Investments Holdings LLC increased its holdings in shares of Modine Manufacturing by 253.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 306,005 shares of the auto parts company’s stock valued at $68,230,000 after purchasing an additional 219,373 shares in the last quarter. Finally, Lisanti Capital Growth LLC bought a new position in Modine Manufacturing in the 2nd quarter worth approximately $6,402,000. Institutional investors own 95.23% of the company’s stock.

Modine Manufacturing Trading Up 0.2%

Shares of NYSE MOD opened at $198.03 on Monday. The company’s 50 day simple moving average is $232.44 and its 200 day simple moving average is $236.31. Modine Manufacturing Company has a fifty-two week low of $111.18 and a fifty-two week high of $323.25. The firm has a market capitalization of $10.52 billion, a P/E ratio of 74.45, a P/E/G ratio of 0.65 and a beta of 1.71. 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 released its earnings results on Wednesday, July 29th. The auto parts company reported $1.53 EPS for the quarter, topping analysts’ consensus estimates of $1.27 by $0.26. Modine Manufacturing had a net margin of 4.28% and a return on equity of 25.59%. The firm had revenue of $874.10 million during the quarter, compared to analyst estimates of $878.69 million. During the same quarter in the previous year, the business earned $0.95 EPS. The business’s quarterly revenue was up 28.0% compared to the same quarter last year. On average, analysts predict that Modine Manufacturing Company will post 7.65 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have issued reports on MOD shares. Weiss Ratings raised Modine Manufacturing from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, May 28th. Oppenheimer boosted 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. Glj Research reaffirmed a “buy” rating and set a $428.00 price target on shares of Modine Manufacturing in a research note on Monday, June 1st. KeyCorp decreased their price target on Modine Manufacturing from $370.00 to $280.00 and set an “overweight” rating on the stock in a report on Thursday, July 30th. Finally, Wall Street Zen lowered Modine Manufacturing from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. Seven research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $320.14.

Insider Activity

In other news, insider Eric S. Mcginnis sold 1,020 shares of the firm’s stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $295.06, for a total value of $300,961.20. Following the transaction, the insider directly owned 28,364 shares in the company, valued at $8,369,081.84. This trade represents a 3.47% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Eric D. Ashleman sold 15,000 shares of Modine Manufacturing stock in a transaction on 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 directly owned 42,350 shares of the company’s stock, valued at approximately $12,219,669. This trade represents a 26.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 54,302 shares of company stock valued at $15,928,759 in the last 90 days. 1.92% of the stock is owned by company insiders.

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.