Kornitzer Capital Management Inc. KS Makes New Investment in Modine Manufacturing Company $MOD

Kornitzer Capital Management Inc. KS acquired a new stake in shares of Modine Manufacturing Company (NYSE:MOD) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 57,370 shares of the auto parts company’s stock, valued at approximately $8,156,000. Kornitzer Capital Management Inc. KS owned about 0.11% of Modine Manufacturing at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. First Horizon Corp purchased a new stake in Modine Manufacturing in the third quarter valued at about $38,000. Toth Financial Advisory Corp purchased a new stake in Modine Manufacturing during the 3rd quarter worth approximately $57,000. Parkside Financial Bank & Trust grew its position in Modine Manufacturing by 2,025.0% during the 2nd quarter. Parkside Financial Bank & Trust now owns 425 shares of the auto parts company’s stock worth $42,000 after purchasing an additional 405 shares during the last quarter. GAMMA Investing LLC increased its stake in Modine Manufacturing by 52.6% during the 2nd quarter. GAMMA Investing LLC now owns 560 shares of the auto parts company’s stock valued at $55,000 after purchasing an additional 193 shares in the last quarter. Finally, Elevation Point Wealth Partners LLC purchased a new position in shares of Modine Manufacturing in the second quarter worth $57,000. Institutional investors and hedge funds own 95.23% of the company’s stock.

Analyst Ratings Changes

MOD has been the topic of a number of research analyst reports. Oppenheimer boosted their price objective on shares of Modine Manufacturing from $145.00 to $180.00 and gave the company an “outperform” rating in a report on Tuesday, October 14th. UBS Group assumed coverage on Modine Manufacturing in a research note on Thursday, November 20th. They set a “buy” rating and a $173.00 price target on the stock. KeyCorp raised their price objective on Modine Manufacturing from $160.00 to $175.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 14th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Modine Manufacturing in a report on Monday, December 29th. Finally, DA Davidson reiterated a “buy” rating and issued a $200.00 price target on shares of Modine Manufacturing in a report on Wednesday, November 19th. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $182.00.

Modine Manufacturing Stock Down 0.8%

Shares of MOD stock opened at $147.35 on Wednesday. Modine Manufacturing Company has a twelve month low of $64.79 and a twelve month high of $166.94. The stock has a market cap of $7.76 billion, a P/E ratio of 42.59, a P/E/G ratio of 0.94 and a beta of 1.70. The stock has a 50 day moving average of $142.39 and a 200 day moving average of $140.08. The company has a current ratio of 2.00, a quick ratio of 1.16 and a debt-to-equity ratio of 0.50.

Modine Manufacturing (NYSE:MOD) last posted its earnings results on Tuesday, October 28th. The auto parts company reported $1.06 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.09. Modine Manufacturing had a net margin of 6.93% and a return on equity of 23.19%. The firm had revenue of $738.90 million during the quarter, compared to analyst estimates of $699.91 million. During the same period in the previous year, the firm earned $0.97 EPS. The business’s quarterly revenue was up 12.3% on a year-over-year basis. As a group, sell-side analysts expect that Modine Manufacturing Company will post 3.88 EPS for the current year.

Insider Buying and Selling at Modine Manufacturing

In other Modine Manufacturing news, Director Suresh V. Garimella sold 1,100 shares of the stock in a transaction that occurred on Thursday, January 22nd. The stock was sold at an average price of $150.00, for a total transaction of $165,000.00. Following the transaction, the director owned 80,956 shares in the company, valued at approximately $12,143,400. This represents a 1.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Neil David Brinker sold 31,871 shares of the stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $160.56, for a total value of $5,117,207.76. Following the transaction, the chief executive officer owned 238,312 shares in the company, valued at $38,263,374.72. This trade represents a 11.80% decrease in their position. The disclosure for this sale is available in the SEC filing. 2.48% of the stock is currently owned by company insiders.

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.