State of Wyoming Makes New $668,000 Investment in Modine Manufacturing Company $MOD

State of Wyoming bought a new position in Modine Manufacturing Company (NYSE:MOD) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 2,503 shares of the auto parts company’s stock, valued at approximately $668,000.

Several other hedge funds also recently made changes to their positions in the company. V Square Quantitative Management LLC purchased a new stake in Modine Manufacturing in the first quarter worth $25,000. Kemnay Advisory Services Inc. purchased a new position in Modine Manufacturing during the fourth quarter valued at $25,000. Sunbelt Securities Inc. bought a new stake in shares of Modine Manufacturing during the 3rd quarter valued at $39,000. Danske Bank A S bought a new stake in shares of Modine Manufacturing during the 3rd quarter valued at $43,000. Finally, Root Financial Partners LLC grew its position in shares of Modine Manufacturing by 140.5% in the 4th quarter. Root Financial Partners LLC now owns 368 shares of the auto parts company’s stock worth $49,000 after buying an additional 215 shares during the period. 95.23% of the stock is currently owned by institutional investors.

Modine Manufacturing Stock Performance

Shares of MOD opened at $209.67 on Monday. The company has a market cap of $11.14 billion, a price-to-earnings ratio of 78.82, a P/E/G ratio of 0.68 and a beta of 1.71. The business’s fifty day simple moving average is $239.57 and its two-hundred day simple moving average is $235.26. Modine Manufacturing Company has a 12 month low of $111.18 and a 12 month high of $323.25. The company has a current ratio of 2.04, a quick ratio of 1.22 and a debt-to-equity ratio of 0.39.

Modine Manufacturing (NYSE:MOD) last posted its quarterly earnings results on Tuesday, July 28th. The auto parts company reported $1.53 earnings per share for the quarter, topping the consensus estimate of $1.27 by $0.26. Modine Manufacturing had a return on equity of 25.59% and a net margin of 4.28%.The firm had revenue of $874.10 million during the quarter, compared to analysts’ expectations of $878.69 million. During the same quarter in the previous year, the business earned $0.95 earnings per share. The company’s revenue was up 28.0% on a year-over-year basis. Research analysts anticipate that Modine Manufacturing Company will post 7.65 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Modine Manufacturing news, VP Brian Jon Agen sold 38,282 shares of the company’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 transaction, the vice president owned 66,343 shares in the company, valued at approximately $19,582,463.31. This represents a 36.59% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Eric S. Mcginnis sold 1,020 shares of the firm’s 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 sale, the insider directly owned 28,364 shares in the company, valued at approximately $8,369,081.84. The trade was a 3.47% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 54,302 shares of company stock valued at $15,928,759. 1.92% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. UBS Group lifted their price target on shares of Modine Manufacturing to $310.00 and gave the company a “buy” rating in a research report on Wednesday, May 27th. Oppenheimer upped their price objective on shares of Modine Manufacturing from $271.00 to $325.00 and gave the stock an “outperform” rating in a report on Thursday, May 28th. B. Riley Financial reiterated a “buy” rating and set a $305.00 target price (down from $340.00) on shares of Modine Manufacturing in a report on Thursday, July 30th. Wall Street Zen lowered shares of Modine Manufacturing from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. Finally, Glj Research restated a “buy” rating and issued a $428.00 price target on shares of Modine Manufacturing in a research note on Monday, June 1st. Seven equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price 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.