Koshinski Asset Management Inc. Makes New Investment in Modine Manufacturing Company $MOD

Koshinski Asset Management Inc. bought a new stake in Modine Manufacturing Company (NYSE:MOD) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 2,519 shares of the auto parts company’s stock, valued at approximately $546,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Wellington Management Group LLP increased its stake in shares of Modine Manufacturing by 4.7% in the fourth quarter. Wellington Management Group LLP now owns 2,879,299 shares of the auto parts company’s stock valued at $384,415,000 after buying an additional 130,511 shares during the period. Price T Rowe Associates Inc. MD boosted its position in Modine Manufacturing by 31.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,333,174 shares of the auto parts company’s stock worth $311,503,000 after buying an additional 560,131 shares during the period. Wasatch Advisors LP grew its holdings in Modine Manufacturing by 1.4% during 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 during the last quarter. Capital Research Global Investors increased its position in Modine Manufacturing by 13.8% in the 4th quarter. Capital Research Global Investors now owns 1,478,224 shares of the auto parts company’s stock valued at $197,358,000 after acquiring an additional 179,617 shares during the period. Finally, Invesco Ltd. increased its position in Modine Manufacturing by 120.4% in the 4th quarter. Invesco Ltd. now owns 1,318,529 shares of the auto parts company’s stock valued at $176,037,000 after acquiring an additional 720,389 shares during the period. 95.23% of the stock is currently owned by institutional investors.

Modine Manufacturing Stock Down 2.0%

Shares of NYSE:MOD opened at $230.60 on Wednesday. Modine Manufacturing Company has a 1 year low of $86.48 and a 1 year high of $323.25. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.94 and a quick ratio of 1.25. The business’s 50-day moving average is $269.56 and its 200-day moving average is $218.97. The company has a market capitalization of $12.18 billion, a price-to-earnings ratio of 102.95, a P/E/G ratio of 0.76 and a beta of 1.67.

Modine Manufacturing (NYSE:MOD) last issued its earnings results on Tuesday, May 26th. The auto parts company reported $1.71 earnings per share for the quarter, topping analysts’ consensus estimates of $1.51 by $0.20. The business had revenue of $954.40 million during the quarter, compared to the consensus estimate of $920.67 million. Modine Manufacturing had a return on equity of 24.39% and a net margin of 3.82%.The firm’s revenue for the quarter was up 47.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.12 earnings per share. Equities research analysts predict that Modine Manufacturing Company will post 7.73 earnings per share for the current year.

Analysts Set New Price Targets

MOD has been the topic of a number of recent research reports. B. Riley Financial lifted their price target on shares of Modine Manufacturing from $250.00 to $264.00 and gave the stock a “buy” rating in a report on Tuesday, May 26th. Weiss Ratings raised Modine Manufacturing from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, May 28th. KeyCorp upped their price target on Modine Manufacturing from $250.00 to $370.00 and gave the company an “overweight” rating in a research report on Wednesday, May 27th. UBS Group increased their price target on Modine Manufacturing to $310.00 and gave the company a “buy” rating in a research note on Wednesday, May 27th. Finally, Wall Street Zen upgraded Modine Manufacturing from a “hold” rating to a “buy” rating in a research report on Saturday, May 30th. 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 data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $327.14.

Insider Activity

In other news, insider Eric S. Mcginnis sold 1,020 shares of the 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 transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 stock was sold at an average price of $295.17, for a total value of $11,299,697.94. Following the completion of the transaction, the vice president owned 66,343 shares in the company, valued at approximately $19,582,463.31. The trade was 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. Over the last 90 days, insiders have sold 54,302 shares of company stock worth $15,928,759. Company insiders own 2.48% of the company’s stock.

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.