Lisanti Capital Growth LLC Raises Holdings in Modine Manufacturing (NYSE:MOD)

Lisanti Capital Growth LLC boosted its stake in shares of Modine Manufacturing (NYSE:MOD) by 91.9% in the fourth quarter, Holdings Channel reports. The firm owned 152,040 shares of the auto parts company’s stock after acquiring an additional 72,795 shares during the period. Modine Manufacturing comprises about 2.1% of Lisanti Capital Growth LLC’s holdings, making the stock its biggest position. Lisanti Capital Growth LLC’s holdings in Modine Manufacturing were worth $9,077,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MOD. AJOVista LLC acquired a new position in shares of Modine Manufacturing during the 4th quarter worth about $133,000. Intrust Bank NA acquired a new position in shares of Modine Manufacturing during the fourth quarter worth approximately $282,000. SummerHaven Investment Management LLC boosted its position in shares of Modine Manufacturing by 0.9% in the fourth quarter. SummerHaven Investment Management LLC now owns 20,895 shares of the auto parts company’s stock valued at $1,247,000 after acquiring an additional 192 shares during the period. Convergence Investment Partners LLC bought a new stake in shares of Modine Manufacturing in the fourth quarter valued at approximately $325,000. Finally, New York State Common Retirement Fund grew its stake in shares of Modine Manufacturing by 21.3% in the fourth quarter. New York State Common Retirement Fund now owns 59,992 shares of the auto parts company’s stock worth $3,582,000 after acquiring an additional 10,545 shares during the last quarter. Institutional investors and hedge funds own 95.23% of the company’s stock.

Insider Buying and Selling at Modine Manufacturing

In other news, CFO Michael B. Lucareli sold 82,312 shares of the company’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $90.33, for a total value of $7,435,242.96. Following the sale, the chief financial officer now owns 194,587 shares of the company’s stock, valued at approximately $17,577,043.71. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Director Christopher William Patterson sold 14,225 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $90.56, for a total transaction of $1,288,216.00. Following the transaction, the director now directly owns 97,517 shares in the company, valued at $8,831,139.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Michael B. Lucareli sold 82,312 shares of Modine Manufacturing stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $90.33, for a total value of $7,435,242.96. Following the completion of the sale, the chief financial officer now directly owns 194,587 shares of the company’s stock, valued at $17,577,043.71. The disclosure for this sale can be found here. Over the last three months, insiders sold 113,336 shares of company stock valued at $10,330,115. 2.86% of the stock is currently owned by company insiders.

Modine Manufacturing Price Performance

Shares of Modine Manufacturing stock traded up $6.81 during midday trading on Monday, hitting $100.92. 874,472 shares of the company were exchanged, compared to its average volume of 958,013. The firm has a 50 day simple moving average of $91.81 and a 200-day simple moving average of $70.10. Modine Manufacturing has a 52 week low of $19.53 and a 52 week high of $106.01. The firm has a market cap of $5.27 billion, a P/E ratio of 23.80, a PEG ratio of 0.72 and a beta of 2.28. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.93 and a quick ratio of 1.21.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. B. Riley reissued a “buy” rating and issued a $98.00 price target (up from $88.00) on shares of Modine Manufacturing in a report on Tuesday, February 27th. StockNews.com lowered Modine Manufacturing from a “buy” rating to a “hold” rating in a research note on Wednesday, January 31st. DA Davidson reaffirmed a “buy” rating and issued a $90.00 target price on shares of Modine Manufacturing in a research report on Tuesday, February 27th. Finally, Oppenheimer assumed coverage on shares of Modine Manufacturing in a report on Tuesday, March 19th. They issued an “outperform” rating and a $105.00 price target on the stock. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $97.67.

Modine Manufacturing Profile

Modine Manufacturing Company provides engineered heat transfer systems and heat transfer components for use in on- and off-highway original equipment manufacturer (OEM) vehicular applications. It operates through Climate Solutions and Performance Technologies segments. The company offers gas-fired, hydronic, electric, and oil-fired unit heaters; indoor and outdoor duct furnaces; infrared units; perimeter heating products, such as commercial fin-tube radiation, cabinet unit heaters, and convectors; roof-mounted direct- and indirect-fired makeup air units; unit ventilators; single packaged vertical units; precision air conditioning units for data center applications; air handler units; fan walls; chillers; ceiling cassettes; hybrid fan coils; and condensers and condensing units.