Modine Manufacturing Company (NYSE:MOD) Shares Acquired by Cynosure Group LLC

Cynosure Group LLC raised its holdings in Modine Manufacturing Company (NYSE:MOD) by 73.4% during the first quarter, Holdings Channel reports. The institutional investor owned 4,390 shares of the auto parts company’s stock after buying an additional 1,858 shares during the period. Cynosure Group LLC’s holdings in Modine Manufacturing were worth $337,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. IFP Advisors Inc raised its stake in Modine Manufacturing by 14.2% in the first quarter. IFP Advisors Inc now owns 911 shares of the auto parts company’s stock valued at $70,000 after buying an additional 113 shares in the last quarter. GAMMA Investing LLC raised its stake in Modine Manufacturing by 63.1% in the first quarter. GAMMA Investing LLC now owns 367 shares of the auto parts company’s stock valued at $28,000 after buying an additional 142 shares in the last quarter. Summit Investment Advisors Inc. raised its stake in Modine Manufacturing by 2.8% in the fourth quarter. Summit Investment Advisors Inc. now owns 5,284 shares of the auto parts company’s stock valued at $613,000 after buying an additional 146 shares in the last quarter. Mesirow Financial Investment Management Inc. raised its stake in Modine Manufacturing by 6.2% in the first quarter. Mesirow Financial Investment Management Inc. now owns 3,122 shares of the auto parts company’s stock valued at $241,000 after buying an additional 182 shares in the last quarter. Finally, Bay Rivers Group raised its stake in Modine Manufacturing by 3.4% in the first quarter. Bay Rivers Group now owns 6,308 shares of the auto parts company’s stock valued at $484,000 after buying an additional 209 shares in the last quarter. 95.23% of the stock is currently owned by institutional investors and hedge funds.

Modine Manufacturing Stock Up 1.1%

MOD opened at $136.61 on Monday. The business’s 50-day simple moving average is $102.86 and its 200-day simple moving average is $93.06. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.28 and a current ratio of 2.06. Modine Manufacturing Company has a one year low of $64.79 and a one year high of $146.84. The stock has a market capitalization of $7.17 billion, a P/E ratio of 39.14, a price-to-earnings-growth ratio of 0.87 and a beta of 2.12.

Modine Manufacturing (NYSE:MOD) last posted its earnings results on Wednesday, July 30th. The auto parts company reported $1.06 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.13. Modine Manufacturing had a return on equity of 23.90% and a net margin of 7.21%. The business had revenue of $682.80 million for the quarter, compared to analysts’ expectations of $653.80 million. During the same quarter in the previous year, the firm earned $1.04 earnings per share. The business’s revenue was up 3.2% compared to the same quarter last year. Analysts anticipate that Modine Manufacturing Company will post 3.88 EPS for the current year.

Insider Transactions at Modine Manufacturing

In related news, VP Brian Jon Agen sold 47,939 shares of the firm’s stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $110.50, for a total transaction of $5,297,259.50. Following the transaction, the vice president owned 90,015 shares of the company’s stock, valued at $9,946,657.50. This trade represents a 34.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Michael B. Lucareli sold 80,661 shares of the firm’s stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $128.33, for a total value of $10,351,226.13. Following the transaction, the executive vice president directly owned 66,920 shares in the company, valued at approximately $8,587,843.60. This represents a 54.66% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 174,800 shares of company stock worth $21,991,034. Corporate insiders own 2.48% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Wall Street Zen cut Modine Manufacturing from a “buy” rating to a “hold” rating in a research note on Saturday, August 2nd. KeyCorp raised their price target on Modine Manufacturing from $125.00 to $150.00 and gave the company an “overweight” rating in a research note on Thursday, July 31st. Finally, Oppenheimer lifted their target price on Modine Manufacturing from $121.00 to $122.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 1st.

Modine Manufacturing Company 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.