Southernsun Asset Management LLC Has $23.90 Million Stake in Modine Manufacturing Company $MOD

Southernsun Asset Management LLC trimmed its position in shares of Modine Manufacturing Company (NYSE:MOD) by 55.6% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 110,286 shares of the auto parts company’s stock after selling 138,122 shares during the quarter. Modine Manufacturing accounts for 3.5% of Southernsun Asset Management LLC’s investment portfolio, making the stock its 16th largest holding. Southernsun Asset Management LLC’s holdings in Modine Manufacturing were worth $23,900,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of MOD. V Square Quantitative Management LLC bought a new stake in Modine Manufacturing during the 1st quarter valued at $25,000. Kemnay Advisory Services Inc. bought a new position in shares of Modine Manufacturing in the fourth quarter valued at $25,000. Spire Wealth Management acquired a new position in shares of Modine Manufacturing during the fourth quarter valued at about $27,000. Sunbelt Securities Inc. acquired a new position in shares of Modine Manufacturing during the third quarter valued at about $39,000. Finally, Danske Bank A S bought a new stake in shares of Modine Manufacturing during the third quarter worth about $43,000. 95.23% of the stock is currently owned by institutional investors.

Insider Transactions at Modine Manufacturing

In other news, VP Brian Jon Agen sold 38,282 shares of the company’s stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $295.17, for a total value of $11,299,697.94. Following the completion of the transaction, the vice president directly owned 66,343 shares of the company’s stock, valued at $19,582,463.31. This represents a 36.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Eric S. Mcginnis sold 1,020 shares of the stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $295.06, for a total value 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. The trade was a 3.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 54,302 shares of company stock worth $15,928,759 in the last 90 days. Insiders own 1.92% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on MOD. KeyCorp boosted their price objective on Modine Manufacturing from $250.00 to $370.00 and gave the stock an “overweight” rating in a report on Wednesday, May 27th. UBS Group raised their target price on Modine Manufacturing to $310.00 and gave the company a “buy” rating in a report on Wednesday, May 27th. DA Davidson reaffirmed a “buy” rating and set a $330.00 target price on shares of Modine Manufacturing in a research report on Monday, June 22nd. Oppenheimer upped their price target on Modine Manufacturing from $271.00 to $325.00 and gave the stock an “outperform” rating in a report on Thursday, May 28th. Finally, Zacks Research lowered Modine Manufacturing from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 13th. Seven analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, Modine Manufacturing presently has an average rating of “Moderate Buy” and a consensus price target of $327.14.

Modine Manufacturing Stock Up 8.2%

Modine Manufacturing stock opened at $246.52 on Wednesday. Modine Manufacturing Company has a fifty-two week low of $90.41 and a fifty-two week high of $323.25. The stock has a market cap of $13.09 billion, a PE ratio of 110.05, a price-to-earnings-growth ratio of 0.74 and a beta of 1.67. The firm’s 50-day simple moving average is $264.13 and its 200 day simple moving average is $225.93. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.25 and a current ratio of 1.94.

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