Castleark Management LLC Increases Stake in Modine Manufacturing Company $MOD

Castleark Management LLC lifted its position in Modine Manufacturing Company (NYSE:MOD) by 216.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 37,850 shares of the auto parts company’s stock after acquiring an additional 25,890 shares during the quarter. Castleark Management LLC owned 0.07% of Modine Manufacturing worth $8,202,000 at the end of the most recent reporting period.

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

Modine Manufacturing Price Performance

Shares of MOD stock opened at $241.46 on Monday. Modine Manufacturing Company has a twelve month low of $98.90 and a twelve month high of $323.25. The company has a current ratio of 1.94, a quick ratio of 1.25 and a debt-to-equity ratio of 0.32. The stock has a fifty day simple moving average of $262.07 and a two-hundred day simple moving average of $228.23. The stock has a market capitalization of $12.82 billion, a price-to-earnings ratio of 107.80, a P/E/G ratio of 0.78 and a beta of 1.67.

Modine Manufacturing (NYSE:MOD) last announced its quarterly earnings results on Tuesday, May 26th. The auto parts company reported $1.71 EPS for the quarter, beating the consensus estimate of $1.51 by $0.20. The firm had revenue of $954.40 million for the quarter, compared to analyst estimates of $920.67 million. Modine Manufacturing had a return on equity of 24.39% and a net margin of 3.82%.The business’s revenue for the quarter was up 47.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.12 earnings per share. On average, analysts predict that Modine Manufacturing Company will post 7.72 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Eric S. Mcginnis sold 1,020 shares of Modine Manufacturing 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 transaction, the insider owned 28,364 shares of the company’s stock, valued at $8,369,081.84. The trade was a 3.47% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Eric D. Ashleman sold 15,000 shares of the business’s stock in a transaction that occurred 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 transaction, the director owned 42,350 shares of the company’s stock, valued at approximately $12,219,669. This trade represents a 26.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 54,302 shares of company stock worth $15,928,759. 1.92% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on MOD. Glj Research reissued a “buy” rating and set a $428.00 price target on shares of Modine Manufacturing in a research note on Monday, June 1st. Oppenheimer upped their price objective on Modine Manufacturing from $271.00 to $325.00 and gave the company an “outperform” rating in a research report on Thursday, May 28th. DA Davidson reaffirmed a “buy” rating and issued a $330.00 price objective on shares of Modine Manufacturing in a research report on Monday, June 22nd. Zacks Research lowered Modine Manufacturing from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 13th. Finally, Wall Street Zen lowered shares of Modine Manufacturing from a “buy” rating to a “hold” rating in a research note on Saturday. Seven investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, Modine Manufacturing currently has a consensus rating of “Moderate Buy” and a consensus price target of $327.14.

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.