Xponance Inc. Increases Stock Position in Modine Manufacturing (NYSE:MOD)

Xponance Inc. lifted its holdings in Modine Manufacturing (NYSE:MOD) by 4.9% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 3,270 shares of the auto parts company’s stock after purchasing an additional 153 shares during the period. Xponance Inc.’s holdings in Modine Manufacturing were worth $328,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the business. Acadian Asset Management LLC purchased a new stake in Modine Manufacturing during the first quarter valued at approximately $37,000. Opal Wealth Advisors LLC purchased a new stake in Modine Manufacturing during the second quarter valued at approximately $51,000. West Oak Capital LLC lifted its position in Modine Manufacturing by 300.0% during the second quarter. West Oak Capital LLC now owns 600 shares of the auto parts company’s stock valued at $60,000 after acquiring an additional 450 shares during the last quarter. Fifth Third Bancorp purchased a new stake in Modine Manufacturing during the second quarter valued at approximately $64,000. Finally, DekaBank Deutsche Girozentrale purchased a new stake in Modine Manufacturing during the second quarter valued at approximately $68,000. Hedge funds and other institutional investors own 95.23% of the company’s stock.

Insider Activity at Modine Manufacturing

In related news, Director Marsha C. Williams sold 34,400 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $109.74, for a total transaction of $3,775,056.00. Following the sale, the director now owns 144,038 shares in the company, valued at $15,806,730.12. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 2.40% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

MOD has been the subject of a number of analyst reports. DA Davidson increased their target price on shares of Modine Manufacturing from $140.00 to $155.00 and gave the company a “buy” rating in a research report on Tuesday, September 24th. William Blair initiated coverage on shares of Modine Manufacturing in a report on Monday, July 29th. They issued an “outperform” rating for the company. Oppenheimer reaffirmed an “outperform” rating and issued a $135.00 price target on shares of Modine Manufacturing in a report on Thursday, September 12th. Finally, B. Riley raised their price target on shares of Modine Manufacturing from $125.00 to $140.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $143.33.

Modine Manufacturing Stock Down 4.0 %

NYSE:MOD opened at $127.54 on Wednesday. The firm has a market capitalization of $6.68 billion, a P/E ratio of 42.09, a PEG ratio of 0.97 and a beta of 2.22. Modine Manufacturing has a 1-year low of $38.50 and a 1-year high of $138.99. The company’s fifty day moving average price is $111.69 and its 200-day moving average price is $103.15. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.80 and a quick ratio of 1.11.

Modine Manufacturing (NYSE:MOD) last released its quarterly earnings data on Tuesday, July 30th. The auto parts company reported $1.04 earnings per share for the quarter, topping 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 business’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.85 earnings per share. As a group, equities research analysts anticipate that Modine Manufacturing will post 3.85 EPS for the current year.

Modine Manufacturing Profile

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.