Jupiter Topco LLC Invests $123.87 Million in Modine Manufacturing Company $MOD

Jupiter Topco LLC acquired a new position in Modine Manufacturing Company (NYSE:MOD) during the 2nd quarter, according to its most recent filing with the SEC. The fund acquired 463,924 shares of the auto parts company’s stock, valued at approximately $123,873,000.

A number of other large investors have also recently added to or reduced their stakes in the business. Wellington Management Group LLP increased its holdings 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 acquiring an additional 130,511 shares in the last quarter. BlackRock Inc. purchased a new stake in shares of Modine Manufacturing in the second quarter valued at about $765,540,000. Price T Rowe Associates Inc. MD grew its position in shares of Modine Manufacturing by 31.6% in 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 purchasing an additional 560,131 shares during the last quarter. Wasatch Advisors LP grew its position in shares of Modine Manufacturing by 1.4% in the second quarter. Wasatch Advisors LP now owns 1,792,413 shares of the auto parts company’s stock valued at $176,553,000 after purchasing an additional 23,955 shares during the last quarter. Finally, Capital Research Global Investors increased its stake in shares of 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 purchasing an additional 179,617 shares in the last quarter. 95.23% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, VP Brian Jon Agen sold 38,282 shares of the business’s stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $295.17, for a total transaction of $11,299,697.94. Following the completion of the sale, the vice president directly owned 66,343 shares of the company’s stock, valued at $19,582,463.31. The trade was a 36.59% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Eric D. Ashleman sold 15,000 shares of the company’s stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $288.54, for a total value of $4,328,100.00. Following the sale, the director owned 42,350 shares of the company’s stock, valued at approximately $12,219,669. The trade was a 26.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 54,302 shares of company stock valued at $15,928,759 over the last quarter. Company insiders own 1.92% of the company’s stock.

Modine Manufacturing Trading Down 0.4%

NYSE MOD opened at $187.25 on Thursday. Modine Manufacturing Company has a 12 month low of $111.18 and a 12 month high of $323.25. The company has a 50-day moving average of $226.58 and a 200-day moving average of $236.03. 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 company has a market cap of $9.94 billion, a P/E ratio of 70.39, a P/E/G ratio of 0.61 and a beta of 1.71.

Modine Manufacturing (NYSE:MOD) last released its 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 business had revenue of $874.10 million for the quarter, compared to analysts’ expectations of $878.69 million. During the same period last year, the company earned $0.95 earnings per share. The company’s quarterly revenue was up 28.0% on a year-over-year basis. As a group, equities analysts predict that Modine Manufacturing Company will post 7.65 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on MOD. B. Riley Financial reaffirmed a “buy” rating and issued a $305.00 target price (down from $340.00) on shares of Modine Manufacturing in a research note on Thursday, July 30th. KeyCorp dropped their price target on Modine Manufacturing from $370.00 to $280.00 and set an “overweight” rating for the company in a research report on Thursday, July 30th. Wall Street Zen cut Modine Manufacturing from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. UBS Group upped their price objective on Modine Manufacturing to $310.00 and gave the company a “buy” rating in a research report on Wednesday, May 27th. Finally, Glj Research reaffirmed a “buy” rating and set a $428.00 price objective on shares of Modine Manufacturing in a research note on Monday, June 1st. Seven investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $320.14.

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.