5,900 Shares in Modine Manufacturing Company $MOD Bought by Maxi Investments CY Ltd

Maxi Investments CY Ltd purchased a new position in Modine Manufacturing Company (NYSE:MOD) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 5,900 shares of the auto parts company’s stock, valued at approximately $1,575,000.

A number of other hedge funds also recently bought and sold shares of MOD. BlackRock Inc. bought a new position in Modine Manufacturing during the second quarter valued at $765,540,000. Invesco Ltd. increased its holdings in shares of Modine Manufacturing by 120.4% in the 4th quarter. Invesco Ltd. now owns 1,318,529 shares of the auto parts company’s stock worth $176,037,000 after buying an additional 720,389 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Modine Manufacturing by 31.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,333,174 shares of the auto parts company’s stock worth $311,503,000 after buying an additional 560,131 shares during the last quarter. Janus Henderson Group PLC raised its position in shares of Modine Manufacturing by 2,249.9% during the 1st quarter. Janus Henderson Group PLC now owns 523,507 shares of the auto parts company’s stock valued at $113,459,000 after buying an additional 501,229 shares in the last quarter. Finally, Blue Whale Capital LLP purchased a new stake in shares of Modine Manufacturing during the 2nd quarter valued at about $123,747,000. Hedge funds and other institutional investors own 95.23% of the company’s stock.

Insider Buying and Selling at Modine Manufacturing

In other news, Director Eric D. Ashleman sold 15,000 shares of Modine Manufacturing stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $288.54, for a total transaction of $4,328,100.00. Following the completion of the sale, the director directly owned 42,350 shares in the company, valued at approximately $12,219,669. This trade represents a 26.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Eric S. Mcginnis sold 1,020 shares of the business’s stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $295.06, for a total transaction of $300,961.20. Following the sale, the insider directly owned 28,364 shares of the company’s stock, valued at $8,369,081.84. This represents a 3.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 54,302 shares of company stock valued at $15,928,759 in the last quarter. 1.92% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts recently commented on MOD shares. DA Davidson reaffirmed a “buy” rating and issued a $330.00 price target on shares of Modine Manufacturing in a report on Monday, June 22nd. Wall Street Zen cut Modine Manufacturing from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. Glj Research restated a “buy” rating and set a $428.00 price objective on shares of Modine Manufacturing in a research report on Monday, June 1st. B. Riley Financial reaffirmed 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. Finally, KeyCorp dropped their target price on Modine Manufacturing from $370.00 to $280.00 and set an “overweight” rating for the company in a report on Thursday, July 30th. Seven investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, Modine Manufacturing currently has a consensus rating of “Moderate Buy” and an average price target of $320.14.

Modine Manufacturing Stock Performance

Modine Manufacturing stock opened at $198.03 on Monday. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.04 and a quick ratio of 1.22. Modine Manufacturing Company has a 1-year low of $111.18 and a 1-year high of $323.25. The firm has a market capitalization of $10.52 billion, a P/E ratio of 74.45, a price-to-earnings-growth ratio of 0.65 and a beta of 1.71. The company’s 50-day moving average is $232.44 and its 200 day moving average is $236.31.

Modine Manufacturing (NYSE:MOD) last announced its earnings results on Wednesday, July 29th. The auto parts company reported $1.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $0.26. Modine Manufacturing had a return on equity of 25.59% and a net margin of 4.28%.The business had revenue of $874.10 million during the quarter, compared to analyst estimates of $878.69 million. During the same quarter in the previous year, the business earned $0.95 earnings per share. The company’s revenue for the quarter was up 28.0% compared to the same quarter last year. Research analysts forecast that Modine Manufacturing Company will post 7.65 EPS for the current 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.