Modine Manufacturing Company $MOD Shares Sold by Penn Capital Management Company LLC

Penn Capital Management Company LLC trimmed its holdings in Modine Manufacturing Company (NYSE:MOD) by 91.7% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 6,204 shares of the auto parts company’s stock after selling 68,350 shares during the quarter. Penn Capital Management Company LLC’s holdings in Modine Manufacturing were worth $1,674,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC bought a new stake in Modine Manufacturing during the 1st quarter valued at $25,000. Kemnay Advisory Services Inc. bought a new position in shares of Modine Manufacturing in the fourth quarter worth $25,000. Sunbelt Securities Inc. bought a new position in shares of Modine Manufacturing in the third quarter worth $39,000. Rakuten Securities Inc. bought a new position in shares of Modine Manufacturing in the second quarter worth $40,000. Finally, PenderFund Capital Management Ltd. acquired a new position in shares of Modine Manufacturing during the second quarter valued at $42,000. 95.23% of the stock is currently owned by institutional investors and hedge funds.

Modine Manufacturing Price Performance

NYSE:MOD opened at $177.47 on Friday. The company has a quick ratio of 1.22, a current ratio of 2.04 and a debt-to-equity ratio of 0.39. The business’s 50-day moving average price is $222.05 and its 200 day moving average price is $235.42. Modine Manufacturing Company has a 52-week low of $111.18 and a 52-week high of $323.25. The firm has a market cap of $9.43 billion, a P/E ratio of 66.72, a PEG ratio of 0.58 and a beta of 1.71.

Modine Manufacturing (NYSE:MOD) last issued its quarterly earnings results on Wednesday, July 29th. The auto parts company reported $1.53 earnings per share for the quarter, beating analysts’ consensus estimates of $1.27 by $0.26. The company had revenue of $874.10 million during the quarter, compared to the consensus estimate of $878.69 million. Modine Manufacturing had a net margin of 4.28% and a return on equity of 25.59%. Modine Manufacturing’s revenue was up 28.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.95 EPS. As a group, sell-side analysts predict that Modine Manufacturing Company will post 7.65 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Insider Activity at Modine Manufacturing

In other Modine Manufacturing news, Director Eric D. Ashleman sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $288.54, for a total value of $4,328,100.00. Following the completion of the transaction, the director directly owned 42,350 shares in the company, valued at $12,219,669. This trade represents a 26.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Brian Jon Agen sold 38,282 shares of the firm’s stock in a transaction that occurred 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 transaction, the vice president directly owned 66,343 shares of the company’s stock, valued at $19,582,463.31. This represents 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. Insiders sold a total of 54,302 shares of company stock valued at $15,928,759 over the last ninety days. Insiders own 1.92% of the company’s stock.

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.