Hudson Bay Capital Management LP Lowers Stock Holdings in Modine Manufacturing Company $MOD

Hudson Bay Capital Management LP cut its position in Modine Manufacturing Company (NYSE:MOD) by 41.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 101,581 shares of the auto parts company’s stock after selling 71,836 shares during the quarter. Hudson Bay Capital Management LP’s holdings in Modine Manufacturing were worth $14,441,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Allspring Global Investments Holdings LLC grew its position in Modine Manufacturing by 13.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 84,616 shares of the auto parts company’s stock valued at $12,512,000 after acquiring an additional 9,989 shares in the last quarter. Schear Investment Advisers LLC acquired a new stake in shares of Modine Manufacturing during the second quarter worth about $1,547,000. Principal Financial Group Inc. lifted its position in shares of Modine Manufacturing by 0.9% during the third quarter. Principal Financial Group Inc. now owns 749,845 shares of the auto parts company’s stock worth $106,598,000 after purchasing an additional 6,847 shares in the last quarter. Y Intercept Hong Kong Ltd boosted its stake in shares of Modine Manufacturing by 390.6% in the third quarter. Y Intercept Hong Kong Ltd now owns 16,861 shares of the auto parts company’s stock valued at $2,397,000 after purchasing an additional 13,424 shares during the period. Finally, Oppenheimer Asset Management Inc. boosted its stake in shares of Modine Manufacturing by 12.4% in the third quarter. Oppenheimer Asset Management Inc. now owns 48,189 shares of the auto parts company’s stock valued at $6,851,000 after purchasing an additional 5,319 shares during the period. Hedge funds and other institutional investors own 95.23% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on MOD. Roth Mkm began coverage on shares of Modine Manufacturing in a research note on Wednesday, February 18th. They set a “buy” rating and a $263.00 target price on the stock. Wall Street Zen cut shares of Modine Manufacturing from a “buy” rating to a “hold” rating in a research report on Sunday, February 22nd. Weiss Ratings restated a “hold (c)” rating on shares of Modine Manufacturing in a research note on Monday, December 29th. DA Davidson upped their price objective on Modine Manufacturing from $255.00 to $265.00 and gave the stock a “buy” rating in a research report on Monday, February 9th. Finally, Oppenheimer increased their price objective on Modine Manufacturing from $220.00 to $240.00 and gave the company an “outperform” rating in a research note on Friday, February 6th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, Modine Manufacturing currently has an average rating of “Buy” and an average target price of $223.20.

Insider Activity at Modine Manufacturing

In related news, Director Suresh V. Garimella sold 1,100 shares of the stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $184.07, for a total value of $202,477.00. Following the transaction, the director owned 79,856 shares of the company’s stock, valued at $14,699,093.92. This represents a 1.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 2.48% of the company’s stock.

Modine Manufacturing Stock Up 0.1%

Shares of Modine Manufacturing stock opened at $200.68 on Friday. The company has a quick ratio of 1.28, a current ratio of 2.19 and a debt-to-equity ratio of 0.51. Modine Manufacturing Company has a 52-week low of $64.79 and a 52-week high of $243.80. The company has a market capitalization of $10.58 billion, a P/E ratio of 111.49, a P/E/G ratio of 1.22 and a beta of 1.67. The company has a 50 day moving average of $189.28 and a 200 day moving average of $161.46.

Modine Manufacturing (NYSE:MOD) last announced its quarterly earnings data on Wednesday, February 4th. The auto parts company reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.20. Modine Manufacturing had a net margin of 3.40% and a return on equity of 22.99%. The company had revenue of $805.00 million for the quarter, compared to the consensus estimate of $763.54 million. During the same period in the prior year, the firm posted $0.92 EPS. The company’s quarterly revenue was up 30.5% compared to the same quarter last year. As a group, research analysts forecast that Modine Manufacturing Company will post 3.88 EPS for the current fiscal year.

About Modine Manufacturing

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.