Kranot Hishtalmut Le Morim Tichoniim Havera Menahelet LTD Makes New $3.60 Million Investment in Modine Manufacturing Company $MOD

Kranot Hishtalmut Le Morim Tichoniim Havera Menahelet LTD bought a new stake in shares of Modine Manufacturing Company (NYSE:MOD) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 13,473 shares of the auto parts company’s stock, valued at approximately $3,598,000.

A number of other hedge funds have also made changes to their positions in the company. California State Teachers Retirement System boosted its stake in shares of Modine Manufacturing by 26,352.0% in the second quarter. California State Teachers Retirement System now owns 15,536,826 shares of the auto parts company’s stock worth $4,148,643,000 after acquiring an additional 15,478,090 shares during the last quarter. BlackRock Inc. acquired a new stake in Modine Manufacturing during the 2nd quarter worth $765,540,000. Paradigm Capital Management Inc. NY purchased a new stake in shares of Modine Manufacturing during the second quarter worth $388,140,000. Invesco Ltd. grew its holdings in shares of Modine Manufacturing by 120.4% during the fourth quarter. Invesco Ltd. now owns 1,318,529 shares of the auto parts company’s stock worth $176,037,000 after buying an additional 720,389 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised 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 buying an additional 560,131 shares during the last quarter. Institutional investors and hedge funds own 95.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on MOD shares. B. Riley Financial reissued a “buy” rating and issued a $305.00 price target (down from $340.00) on shares of Modine Manufacturing in a research note on Thursday, July 30th. Weiss Ratings reiterated a “hold (c)” rating on shares of Modine Manufacturing in a report on Tuesday, August 25th. DA Davidson reissued a “buy” rating and issued a $330.00 target price on shares of Modine Manufacturing in a research note on Monday, June 22nd. UBS Group boosted their target price on Modine Manufacturing to $310.00 and gave the stock a “buy” rating in a report on Wednesday, May 27th. Finally, Wall Street Zen lowered Modine Manufacturing from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. Seven equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Modine Manufacturing currently has an average rating of “Moderate Buy” and a consensus target price of $320.14.

Insiders Place Their Bets

In other Modine Manufacturing news, 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 in the company, valued at approximately $12,219,669. The trade was a 26.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Brian Agen sold 38,282 shares of the company’s stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $295.17, for a total value of $11,299,697.94. Following the transaction, the vice president directly owned 66,343 shares in the company, valued at $19,582,463.31. This represents a 36.59% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 54,302 shares of company stock valued at $15,928,759. Insiders own 1.92% of the company’s stock.

Modine Manufacturing Price Performance

MOD opened at $192.54 on Wednesday. The stock’s 50-day moving average price is $209.98 and its 200 day moving average price is $234.02. 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 Company has a 12-month low of $111.18 and a 12-month high of $323.25. The firm has a market cap of $10.23 billion, a price-to-earnings ratio of 72.38, a PEG ratio of 0.64 and a beta of 1.74.

Modine Manufacturing (NYSE:MOD) last posted its quarterly earnings results on Wednesday, July 29th. The auto parts company reported $1.53 EPS for the quarter, topping the consensus estimate of $1.27 by $0.26. The company 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 firm’s revenue was up 28.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.95 EPS. As a group, sell-side analysts expect that Modine Manufacturing Company will post 7.65 earnings per share for the current year.

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.