Perigon Wealth Management LLC Invests $3.51 Million in Modine Manufacturing Company $MOD

Perigon Wealth Management LLC purchased a new position in Modine Manufacturing Company (NYSE:MOD) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 13,160 shares of the auto parts company’s stock, valued at approximately $3,514,000.

A number of other large investors also recently modified their holdings of the company. TimesSquare Capital Management LLC acquired a new position in shares of Modine Manufacturing during the 2nd quarter worth about $16,297,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in Modine Manufacturing in the 2nd quarter valued at $349,000. Persistent Asset Partners Ltd acquired a new stake in shares of Modine Manufacturing during the second quarter worth about $72,000. OneDigital Investment Advisors LLC purchased a new position in shares of Modine Manufacturing in the 2nd quarter valued at approximately $245,000. Finally, Simplicity Wealth LLC acquired a new stake in shares of Modine Manufacturing during the second quarter worth $343,000. 95.23% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Modine Manufacturing

In other Modine Manufacturing news, Director Eric D. Ashleman sold 15,000 shares of the business’s stock in a transaction dated 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 in the company, valued at $12,219,669. The trade was a 26.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Brian Jon Agen sold 38,282 shares of the firm’s stock in a transaction dated 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 sale, the vice president owned 66,343 shares in the company, valued at approximately $19,582,463.31. The trade was a 36.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 54,302 shares of company stock worth $15,928,759. 1.92% of the stock is owned by insiders.

Modine Manufacturing Stock Up 3.8%

Shares of NYSE MOD opened at $217.56 on Tuesday. Modine Manufacturing Company has a 12-month low of $111.18 and a 12-month high of $323.25. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.04 and a quick ratio of 1.22. The firm’s 50-day moving average is $238.43 and its two-hundred day moving average is $235.75. The company has a market capitalization of $11.55 billion, a PE ratio of 81.79, a price-to-earnings-growth ratio of 0.68 and a beta of 1.71.

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

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on MOD shares. DA Davidson reissued a “buy” rating and issued a $330.00 price objective on shares of Modine Manufacturing in a research note on Monday, June 22nd. Weiss Ratings upgraded shares of Modine Manufacturing from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, May 28th. Oppenheimer lifted their target price on shares of Modine Manufacturing from $271.00 to $325.00 and gave the company an “outperform” rating in a report on Thursday, May 28th. Wall Street Zen cut shares of Modine Manufacturing from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. Finally, Glj Research restated a “buy” rating and issued a $428.00 price objective on shares of Modine Manufacturing in a research report on Monday, June 1st. Seven research 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 currently has a consensus rating of “Moderate Buy” and a consensus price target of $320.14.

Modine Manufacturing 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.