DUTCH ASSET Corp Has $4.05 Million Stock Holdings in Modine Manufacturing Company $MOD

DUTCH ASSET Corp increased its position in Modine Manufacturing Company (NYSE:MOD) by 122.2% during the first quarter, Holdings Channel reports. The firm owned 18,709 shares of the auto parts company’s stock after buying an additional 10,290 shares during the quarter. Modine Manufacturing makes up approximately 2.7% of DUTCH ASSET Corp’s portfolio, making the stock its 11th largest holding. DUTCH ASSET Corp’s holdings in Modine Manufacturing were worth $4,055,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Meeder Advisory Services Inc. acquired a new position in Modine Manufacturing during the first quarter worth approximately $200,000. Swiss National Bank lifted its position in shares of Modine Manufacturing by 0.5% in the first quarter. Swiss National Bank now owns 98,900 shares of the auto parts company’s stock valued at $21,433,000 after buying an additional 500 shares during the last quarter. Mediolanum International Funds Ltd acquired a new stake in shares of Modine Manufacturing in the first quarter valued at approximately $24,576,000. ANB Bank boosted its stake in shares of Modine Manufacturing by 6.7% during the 1st quarter. ANB Bank now owns 1,890 shares of the auto parts company’s stock worth $410,000 after acquiring an additional 119 shares during the period. Finally, California Public Employees Retirement System boosted its stake in shares of Modine Manufacturing by 2.9% during the 1st quarter. California Public Employees Retirement System now owns 92,788 shares of the auto parts company’s stock worth $20,108,000 after acquiring an additional 2,642 shares during the period. 95.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Modine Manufacturing

In other news, VP Brian Jon Agen sold 38,282 shares of the business’s stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $295.17, for a total value of $11,299,697.94. Following the completion of the sale, the vice president owned 66,343 shares of the company’s stock, valued at approximately $19,582,463.31. The trade was a 36.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Eric S. Mcginnis sold 1,020 shares of the company’s stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $295.06, for a total transaction of $300,961.20. Following the completion of the transaction, the insider owned 28,364 shares in the company, valued at $8,369,081.84. This trade represents a 3.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 54,302 shares of company stock valued at $15,928,759. 1.92% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on MOD. B. Riley Financial boosted their target price on Modine Manufacturing from $250.00 to $264.00 and gave the stock a “buy” rating in a report on Tuesday, May 26th. UBS Group lifted their price objective on shares of Modine Manufacturing to $310.00 and gave the stock a “buy” rating in a research report on Wednesday, May 27th. Zacks Research downgraded shares of Modine Manufacturing from a “strong-buy” rating to a “hold” rating in a report on Monday, April 13th. Glj Research reissued a “buy” rating and issued a $428.00 price objective on shares of Modine Manufacturing in a research report on Monday, June 1st. Finally, KeyCorp raised their target price on shares of Modine Manufacturing from $250.00 to $370.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 27th. Seven equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Modine Manufacturing has a consensus rating of “Moderate Buy” and a consensus target price of $327.14.

Modine Manufacturing Price Performance

Modine Manufacturing stock opened at $227.80 on Tuesday. The company has a market capitalization of $12.10 billion, a price-to-earnings ratio of 101.70, a PEG ratio of 0.74 and a beta of 1.67. The company has a current ratio of 1.94, a quick ratio of 1.25 and a debt-to-equity ratio of 0.32. Modine Manufacturing Company has a 12 month low of $90.41 and a 12 month high of $323.25. The stock’s 50 day moving average is $264.74 and its 200-day moving average is $225.13.

Modine Manufacturing (NYSE:MOD) last released its quarterly earnings results on Tuesday, May 26th. The auto parts company reported $1.71 earnings per share for the quarter, topping the consensus estimate of $1.51 by $0.20. The business had revenue of $954.40 million during the quarter, compared to analysts’ expectations of $920.67 million. Modine Manufacturing had a return on equity of 24.39% and a net margin of 3.82%.The firm’s revenue for the quarter was up 47.5% compared to the same quarter last year. During the same period last year, the firm posted $1.12 EPS. Equities research analysts expect that Modine Manufacturing Company will post 7.72 EPS for the current year.

Modine Manufacturing Profile

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.