Invst LLC Buys 2,450 Shares of Modine Manufacturing (NYSE:MOD)

Invst LLC lifted its stake in shares of Modine Manufacturing (NYSE:MOD) by 52.7% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 7,101 shares of the auto parts company’s stock after buying an additional 2,450 shares during the quarter. Invst LLC’s holdings in Modine Manufacturing were worth $729,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Acadian Asset Management LLC acquired a new position in Modine Manufacturing in the 1st quarter valued at $37,000. Opal Wealth Advisors LLC acquired a new stake in Modine Manufacturing in the 2nd quarter worth about $51,000. West Oak Capital LLC boosted its holdings in Modine Manufacturing by 300.0% in the 2nd quarter. West Oak Capital LLC now owns 600 shares of the auto parts company’s stock valued at $60,000 after purchasing an additional 450 shares during the period. Fifth Third Bancorp acquired a new position in shares of Modine Manufacturing during the 2nd quarter worth approximately $64,000. Finally, DekaBank Deutsche Girozentrale bought a new position in shares of Modine Manufacturing during the second quarter worth approximately $68,000. Institutional investors own 95.23% of the company’s stock.

Analyst Ratings Changes

MOD has been the subject of several recent research reports. Oppenheimer reiterated an “outperform” rating and issued a $135.00 price target on shares of Modine Manufacturing in a research note on Thursday, September 12th. B. Riley increased their price objective on shares of Modine Manufacturing from $125.00 to $140.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. William Blair began coverage on shares of Modine Manufacturing in a report on Monday, July 29th. They issued an “outperform” rating on the stock. Finally, DA Davidson lifted their price objective on shares of Modine Manufacturing from $140.00 to $155.00 and gave the company a “buy” rating in a research note on Tuesday, September 24th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $143.33.

Modine Manufacturing Stock Up 0.9 %

MOD stock opened at $132.87 on Tuesday. The stock has a market capitalization of $6.96 billion, a P/E ratio of 43.85, a price-to-earnings-growth ratio of 0.97 and a beta of 2.22. The company has a current ratio of 1.80, a quick ratio of 1.11 and a debt-to-equity ratio of 0.51. The firm has a 50-day moving average price of $111.50 and a 200-day moving average price of $102.87. Modine Manufacturing has a 12 month low of $38.50 and a 12 month high of $138.99.

Modine Manufacturing (NYSE:MOD) last issued its earnings results on Tuesday, July 30th. The auto parts company reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.86 by $0.18. The firm had revenue of $661.50 million for the quarter, compared to analyst estimates of $633.55 million. Modine Manufacturing had a net margin of 6.70% and a return on equity of 24.92%. The company’s quarterly revenue was up 6.3% on a year-over-year basis. During the same quarter last year, the business posted $0.85 earnings per share. As a group, equities research analysts anticipate that Modine Manufacturing will post 3.85 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Marsha C. Williams sold 34,400 shares of Modine Manufacturing stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $109.74, for a total transaction of $3,775,056.00. Following the sale, the director now directly owns 144,038 shares of the company’s stock, valued at $15,806,730.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.40% of the company’s stock.

About Modine Manufacturing

Modine Manufacturing Company provides thermal management products and solutions in the United States, Italy, Hungary, China, the United Kingdom, and internationally. It operates through Climate Solutions and Performance Technologies segments. The company offers heat transfer coils, including heat recovery and round tube plate fin coils; gas-fired, hydronic, electric and oilfired unit heaters; roof-mounted direct- and indirect-fired makeup air units; duct furnaces; infrared units; perimeter heating products; single packaged unit ventilators; modular chillers; air handler and condensing units; ceiling cassettes; evaporator unit coolers, remote condensers, fluid coolers, gas coolers, and dry and brine coolers; and motor and generator cooling coils, transformer oil coolers, radiators, dryers, and industrial heat exchangers.