Silvant Capital Management LLC Purchases Shares of 23,680 Modine Manufacturing Company $MOD

Silvant Capital Management LLC acquired a new position in Modine Manufacturing Company (NYSE:MOD) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 23,680 shares of the auto parts company’s stock, valued at approximately $6,323,000.

Several other hedge funds have also modified their holdings of MOD. V Square Quantitative Management LLC bought a new position in shares of Modine Manufacturing during the 1st quarter valued at approximately $25,000. Kemnay Advisory Services Inc. bought a new stake in Modine Manufacturing in the fourth quarter worth $25,000. Optiver Holding B.V. raised its stake in Modine Manufacturing by 19.7% during the first quarter. Optiver Holding B.V. now owns 237 shares of the auto parts company’s stock valued at $51,000 after purchasing an additional 39 shares in the last quarter. Persistent Asset Partners Ltd purchased a new stake in Modine Manufacturing during the second quarter valued at $72,000. Finally, Sunbelt Securities Inc. purchased a new stake in Modine Manufacturing during the third quarter valued at $39,000. 95.23% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Modine Manufacturing

In other Modine Manufacturing news, insider Eric S. Mcginnis sold 1,020 shares of the firm’s stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $295.06, for a total value of $300,961.20. Following the completion of the sale, the insider owned 28,364 shares of the company’s stock, valued at $8,369,081.84. This trade represents a 3.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Brian Jon Agen sold 38,282 shares of the business’s stock in a transaction that occurred on 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 transaction, the vice president owned 66,343 shares of the company’s stock, valued at $19,582,463.31. This trade represents a 36.59% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 54,302 shares of company stock worth $15,928,759. Insiders own 1.92% of the company’s stock.

Modine Manufacturing Stock Down 2.6%

Shares of MOD opened at $190.15 on Friday. The company has a quick ratio of 1.22, a current ratio of 2.04 and a debt-to-equity ratio of 0.39. The business has a fifty day moving average of $233.94 and a 200 day moving average of $236.29. The company has a market cap of $10.10 billion, a PE ratio of 71.48, a P/E/G ratio of 0.64 and a beta of 1.71. Modine Manufacturing Company has a 52-week low of $111.18 and a 52-week high of $323.25.

Modine Manufacturing (NYSE:MOD) last posted its quarterly earnings data on Tuesday, July 28th. The auto parts company reported $1.53 earnings per share for the quarter, beating analysts’ consensus estimates of $1.27 by $0.26. Modine Manufacturing had a net margin of 4.28% and a return on equity of 25.59%. The business had revenue of $874.10 million for the quarter, compared to analysts’ expectations of $878.69 million. During the same quarter in the previous year, the business posted $0.95 earnings per share. The business’s revenue was up 28.0% compared to the same quarter last year. On average, sell-side analysts expect that Modine Manufacturing Company will post 7.65 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have commented on MOD. B. Riley Financial reissued a “buy” rating and issued a $305.00 price objective (down from $340.00) on shares of Modine Manufacturing in a research note on Thursday, July 30th. Weiss Ratings upgraded shares of Modine Manufacturing from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, May 28th. Wall Street Zen downgraded shares of Modine Manufacturing from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. Oppenheimer lifted their price target on Modine Manufacturing from $271.00 to $325.00 and gave the stock an “outperform” rating in a research report on Thursday, May 28th. Finally, Glj Research reissued a “buy” rating and set a $428.00 price objective on shares of Modine Manufacturing in a research note on Monday, June 1st. Seven analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, Modine Manufacturing has a consensus rating of “Moderate Buy” and a consensus price target of $320.14.

Modine Manufacturing Company 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.