Empowered Funds LLC Acquires 2,976 Shares of Modine Manufacturing Company $MOD

Empowered Funds LLC raised its position in Modine Manufacturing Company (NYSE:MOD) by 2.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 132,496 shares of the auto parts company’s stock after purchasing an additional 2,976 shares during the period. Empowered Funds LLC owned 0.25% of Modine Manufacturing worth $28,713,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in MOD. V Square Quantitative Management LLC purchased a new stake in shares of Modine Manufacturing in the first quarter worth $25,000. Kemnay Advisory Services Inc. bought a new position in Modine Manufacturing in the 4th quarter worth about $25,000. Spire Wealth Management purchased a new stake in shares of Modine Manufacturing in the 4th quarter valued at about $27,000. Sunbelt Securities Inc. purchased a new stake in shares of Modine Manufacturing in the 3rd quarter valued at about $39,000. Finally, Danske Bank A S bought a new stake in shares of Modine Manufacturing during the 3rd quarter valued at about $43,000. 95.23% of the stock is currently owned by hedge funds and other institutional investors.

Modine Manufacturing Price Performance

Shares of Modine Manufacturing stock opened at $230.63 on Tuesday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.94 and a quick ratio of 1.25. Modine Manufacturing Company has a one year low of $102.93 and a one year high of $323.25. The business’s 50 day simple moving average is $261.74 and its two-hundred day simple moving average is $228.94. The stock has a market capitalization of $12.25 billion, a P/E ratio of 102.96, a price-to-earnings-growth ratio of 0.78 and a beta of 1.67.

Modine Manufacturing (NYSE:MOD) last released its quarterly earnings data on Tuesday, May 26th. The auto parts company reported $1.71 earnings per share for the quarter, beating analysts’ consensus estimates of $1.51 by $0.20. Modine Manufacturing had a return on equity of 24.39% and a net margin of 3.82%.The firm had revenue of $954.40 million during the quarter, compared to analyst estimates of $920.67 million. During the same quarter in the prior year, the firm posted $1.12 earnings per share. The business’s quarterly revenue was up 47.5% compared to the same quarter last year. Analysts forecast that Modine Manufacturing Company will post 7.72 EPS for the current year.

Analyst Upgrades and Downgrades

MOD has been the subject of several recent analyst reports. Glj Research reissued a “buy” rating and set a $428.00 price objective on shares of Modine Manufacturing in a report on Monday, June 1st. B. Riley Financial raised their target price on shares of Modine Manufacturing from $250.00 to $264.00 and gave the company a “buy” rating in a research note on Tuesday, May 26th. Zacks Research lowered shares of Modine Manufacturing from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 13th. UBS Group boosted their price target on shares of Modine Manufacturing to $310.00 and gave the stock a “buy” rating in a research note on Wednesday, May 27th. Finally, KeyCorp raised their price objective on shares of Modine Manufacturing from $250.00 to $370.00 and gave the company an “overweight” rating in a research report on Wednesday, May 27th. Seven equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $327.14.

Insider Activity at Modine Manufacturing

In other Modine Manufacturing news, Director Eric D. Ashleman sold 15,000 shares of the stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $288.54, for a total transaction of $4,328,100.00. Following the completion of the sale, the director owned 42,350 shares of the company’s stock, valued at $12,219,669. This represents a 26.16% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Brian Jon Agen sold 38,282 shares of the firm’s stock in a transaction on Thursday, June 18th. The stock was 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 in the company, valued at approximately $19,582,463.31. This trade 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. Insiders sold 54,302 shares of company stock worth $15,928,759 in the last three months. 1.92% of the stock is owned by 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.