Modine Manufacturing Company $MOD Stake Raised by Quantinno Capital Management LP

Quantinno Capital Management LP raised its stake in Modine Manufacturing Company (NYSE:MOD) by 39.1% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 9,451 shares of the auto parts company’s stock after acquiring an additional 2,656 shares during the period. Quantinno Capital Management LP’s holdings in Modine Manufacturing were worth $2,048,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Wellington Management Group LLP raised its stake in Modine Manufacturing by 4.7% during the 4th quarter. Wellington Management Group LLP now owns 2,879,299 shares of the auto parts company’s stock valued at $384,415,000 after purchasing an additional 130,511 shares during the period. Price T Rowe Associates Inc. MD raised its position in Modine Manufacturing by 31.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,333,174 shares of the auto parts company’s stock valued at $311,503,000 after buying an additional 560,131 shares during the period. Wasatch Advisors LP lifted its stake in Modine Manufacturing by 1.4% in the 2nd quarter. Wasatch Advisors LP now owns 1,792,413 shares of the auto parts company’s stock worth $176,553,000 after acquiring an additional 23,955 shares in the last quarter. Capital Research Global Investors boosted its position in Modine Manufacturing by 13.8% during the 4th quarter. Capital Research Global Investors now owns 1,478,224 shares of the auto parts company’s stock worth $197,358,000 after acquiring an additional 179,617 shares during the period. Finally, Invesco Ltd. boosted its position in Modine Manufacturing by 120.4% during the 4th quarter. Invesco Ltd. now owns 1,318,529 shares of the auto parts company’s stock worth $176,037,000 after acquiring an additional 720,389 shares during the period. Institutional investors and hedge funds own 95.23% of the company’s stock.

Analysts Set New Price Targets

MOD has been the topic of several research analyst reports. Wall Street Zen cut Modine Manufacturing from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. Glj Research restated a “buy” rating and set a $428.00 price target on shares of Modine Manufacturing in a report on Monday, June 1st. Weiss Ratings raised shares of Modine Manufacturing from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, May 28th. UBS Group upped their price objective on shares of Modine Manufacturing to $310.00 and gave the company a “buy” rating in a research note on Wednesday, May 27th. Finally, Zacks Research lowered shares of Modine Manufacturing from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 13th. Seven investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $320.14.

Modine Manufacturing Trading Down 2.5%

NYSE:MOD opened at $190.80 on Tuesday. The company has a market capitalization of $10.13 billion, a P/E ratio of 71.73, a P/E/G ratio of 0.64 and a beta of 1.71. The stock’s 50 day moving average price is $246.98 and its 200 day moving average price is $233.65. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.22 and a current ratio of 2.04. Modine Manufacturing Company has a 52 week low of $111.18 and a 52 week high of $323.25.

Modine Manufacturing (NYSE:MOD) last posted its earnings results on Tuesday, July 28th. The auto parts company reported $1.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.27 by $0.26. The firm had revenue of $874.10 million during the quarter, compared to analysts’ expectations of $878.69 million. Modine Manufacturing had a net margin of 4.28% and a return on equity of 25.59%. The company’s revenue was up 28.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.95 earnings per share. On average, research analysts forecast that Modine Manufacturing Company will post 7.65 EPS for the current fiscal year.

Insider Transactions at Modine Manufacturing

In other news, 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 transaction, the director owned 42,350 shares of the company’s stock, valued at approximately $12,219,669. This represents a 26.16% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Brian Jon Agen sold 38,282 shares of the stock in a transaction that occurred on 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 transaction, the vice president owned 66,343 shares in the company, valued at approximately $19,582,463.31. This trade represents a 36.59% decrease in their position. 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. In the last quarter, insiders sold 54,302 shares of company stock worth $15,928,759. 1.92% of the stock is owned by corporate insiders.

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.