Candelo Capital Management LP Makes New Investment in Modine Manufacturing Company $MOD

Candelo Capital Management LP bought a new stake in Modine Manufacturing Company (NYSE:MOD) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 39,053 shares of the auto parts company’s stock, valued at approximately $5,552,000. Modine Manufacturing makes up approximately 4.8% of Candelo Capital Management LP’s investment portfolio, making the stock its 4th largest position. Candelo Capital Management LP owned about 0.07% of Modine Manufacturing as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Modine Manufacturing by 1.9% in the third quarter. Vanguard Group Inc. now owns 5,080,874 shares of the auto parts company’s stock worth $722,297,000 after buying an additional 97,035 shares during the last quarter. Wasatch Advisors LP raised its holdings in Modine Manufacturing by 1.4% in the second quarter. Wasatch Advisors LP now owns 1,792,413 shares of the auto parts company’s stock valued at $176,553,000 after acquiring an additional 23,955 shares in the last quarter. State Street Corp boosted its stake in Modine Manufacturing by 4.2% during the 2nd quarter. State Street Corp now owns 1,309,488 shares of the auto parts company’s stock valued at $128,985,000 after acquiring an additional 53,351 shares during the last quarter. Capital Research Global Investors bought a new position in Modine Manufacturing during the 3rd quarter valued at $184,610,000. Finally, Geode Capital Management LLC grew its holdings in Modine Manufacturing by 1.2% during the 2nd quarter. Geode Capital Management LLC now owns 1,214,976 shares of the auto parts company’s stock worth $119,690,000 after acquiring an additional 14,096 shares in the last quarter. 95.23% of the stock is currently owned by hedge funds and other institutional investors.

Modine Manufacturing Stock Down 1.6%

Shares of NYSE:MOD opened at $188.79 on Friday. The company’s fifty day moving average is $183.57 and its two-hundred day moving average is $159.96. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.28 and a current ratio of 2.19. Modine Manufacturing Company has a 1-year low of $64.79 and a 1-year high of $243.80. The stock has a market capitalization of $9.95 billion, a price-to-earnings ratio of 104.88, a price-to-earnings-growth ratio of 1.15 and a beta of 1.67.

Modine Manufacturing (NYSE:MOD) last posted its quarterly earnings results on Wednesday, February 4th. The auto parts company reported $1.19 EPS for the quarter, beating the consensus estimate of $0.99 by $0.20. Modine Manufacturing had a net margin of 3.40% and a return on equity of 22.99%. The business had revenue of $805.00 million during the quarter, compared to analyst estimates of $763.54 million. During the same period in the previous year, the business posted $0.92 EPS. The company’s quarterly revenue was up 30.5% on a year-over-year basis. Equities analysts anticipate that Modine Manufacturing Company will post 3.88 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Wall Street Zen downgraded shares of Modine Manufacturing from a “buy” rating to a “hold” rating in a research report on Sunday, February 22nd. Zacks Research raised shares of Modine Manufacturing from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 30th. DA Davidson lifted their price target on Modine Manufacturing from $255.00 to $265.00 and gave the stock a “buy” rating in a research note on Monday, February 9th. Roth Mkm started coverage on Modine Manufacturing in a report on Wednesday, February 18th. They issued a “buy” rating and a $263.00 price objective for the company. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Modine Manufacturing in a research note on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $223.20.

Insider Transactions at Modine Manufacturing

In other Modine Manufacturing news, Director Suresh V. Garimella sold 1,100 shares of Modine Manufacturing stock in a transaction that occurred 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 completion of the transaction, the director directly owned 79,856 shares in the company, valued at $14,699,093.92. The trade was a 1.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 2.48% of the stock is owned by corporate insiders.

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.