De Lisle Partners LLP Acquires New Position in Modine Manufacturing Company $MOD

De Lisle Partners LLP acquired a new position in shares of Modine Manufacturing Company (NYSE:MOD) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 21,000 shares of the auto parts company’s stock, valued at approximately $5,606,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Modine Manufacturing by 26.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,223 shares of the auto parts company’s stock worth $2,857,000 after purchasing an additional 7,831 shares during the period. California Public Employees Retirement System grew its holdings in shares of Modine Manufacturing by 8.3% during the 2nd quarter. California Public Employees Retirement System now owns 68,702 shares of the auto parts company’s stock worth $6,767,000 after purchasing an additional 5,244 shares during the period. State Street Corp increased its position 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 worth $128,985,000 after purchasing an additional 53,351 shares in the last quarter. Qube Research & Technologies Ltd increased its position in Modine Manufacturing by 106.3% during the 2nd quarter. Qube Research & Technologies Ltd now owns 161,319 shares of the auto parts company’s stock worth $15,890,000 after purchasing an additional 83,105 shares in the last quarter. Finally, Sei Investments Co. raised its holdings in Modine Manufacturing by 70.8% in the second quarter. Sei Investments Co. now owns 309,653 shares of the auto parts company’s stock valued at $30,501,000 after buying an additional 128,348 shares during the period. Institutional investors and hedge funds own 95.23% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. B. Riley Financial reaffirmed a “buy” rating and set a $305.00 price target (down from $340.00) on shares of Modine Manufacturing in a research report on Thursday, July 30th. Glj Research reissued a “buy” rating and issued a $428.00 target price on shares of Modine Manufacturing in a research note on Monday, June 1st. DA Davidson reaffirmed a “buy” rating and set a $330.00 price target on shares of Modine Manufacturing in a research report on Monday, June 22nd. KeyCorp lowered their price target on Modine Manufacturing from $370.00 to $280.00 and set an “overweight” rating for the company in a report on Thursday, July 30th. Finally, UBS Group boosted their price objective on Modine Manufacturing to $310.00 and gave the stock a “buy” rating in a research note on Wednesday, May 27th. Seven research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $320.14.

Insider Activity

In related news, insider Eric S. Mcginnis sold 1,020 shares of the business’s stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $295.06, for a total transaction of $300,961.20. Following the completion of the sale, the insider owned 28,364 shares of the company’s stock, valued at $8,369,081.84. This represents a 3.47% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Eric D. Ashleman sold 15,000 shares of the 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 sale, the director owned 42,350 shares in the company, 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. In the last 90 days, insiders have sold 54,302 shares of company stock worth $15,928,759. 1.92% of the stock is currently owned by corporate insiders.

Modine Manufacturing Price Performance

Shares of MOD stock opened at $198.03 on Friday. The firm has a fifty day simple moving average of $232.44 and a 200-day simple moving average of $236.03. The company has a market capitalization of $10.52 billion, a PE ratio of 74.45, a price-to-earnings-growth ratio of 0.65 and a beta of 1.71. Modine Manufacturing Company has a twelve month low of $111.18 and a twelve month high of $323.25. The company has a current ratio of 2.04, a quick ratio of 1.22 and a debt-to-equity ratio of 0.39.

Modine Manufacturing (NYSE:MOD) last released its quarterly earnings results on Wednesday, July 29th. The auto parts company reported $1.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.27 by $0.26. Modine Manufacturing had a net margin of 4.28% and a return on equity of 25.59%. The firm had revenue of $874.10 million for the quarter, compared to the consensus estimate of $878.69 million. During the same quarter in the previous year, the firm posted $0.95 EPS. The firm’s quarterly revenue was up 28.0% on a year-over-year basis. Equities research analysts anticipate that Modine Manufacturing Company will post 7.65 earnings per share for the current fiscal year.

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.