Jefferies Financial Group Inc. Takes $1.07 Million Position in Modine Manufacturing Company $MOD

Jefferies Financial Group Inc. purchased a new stake in Modine Manufacturing Company (NYSE:MOD) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 4,006 shares of the auto parts company’s stock, valued at approximately $1,070,000.

Other large investors have also recently bought and sold shares of the company. Lazard Asset Management LLC purchased a new position in shares of Modine Manufacturing during the first quarter worth about $1,722,000. Robinhood Asset Management LLC purchased a new stake in Modine Manufacturing during the 2nd quarter valued at approximately $8,848,000. Ranger Investment Management L.P. purchased a new stake in Modine Manufacturing during the 1st quarter valued at approximately $15,557,000. Allspring Global Investments Holdings LLC lifted its position in Modine Manufacturing by 253.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 306,005 shares of the auto parts company’s stock worth $68,230,000 after acquiring an additional 219,373 shares during the period. Finally, SIR Capital Management L.P. acquired a new stake in Modine Manufacturing during the 2nd quarter worth approximately $10,452,000. Institutional investors and hedge funds own 95.23% of the company’s stock.

Modine Manufacturing Stock Performance

Shares of MOD stock opened at $177.47 on Monday. The company has a market cap of $9.43 billion, a price-to-earnings ratio of 66.72, a price-to-earnings-growth ratio of 0.58 and a beta of 1.71. The stock has a 50 day simple moving average of $222.05 and a 200-day simple moving average of $235.54. Modine Manufacturing Company has a 12-month low of $111.18 and a 12-month high of $323.25. 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 (NYSE:MOD) last posted its quarterly earnings results on Wednesday, July 29th. The auto parts company reported $1.53 EPS for the quarter, beating the consensus estimate of $1.27 by $0.26. Modine Manufacturing had a return on equity of 25.59% and a net margin of 4.28%.The business had revenue of $874.10 million during the quarter, compared to analysts’ expectations of $878.69 million. During the same period last year, the firm earned $0.95 EPS. The company’s quarterly revenue was up 28.0% compared to the same quarter last year. On average, equities analysts forecast that Modine Manufacturing Company will post 7.65 EPS for the current year.

Insiders Place Their Bets

In other Modine Manufacturing news, insider Eric S. Mcginnis sold 1,020 shares of the firm’s stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $295.06, for a total value of $300,961.20. Following the completion of the sale, the insider owned 28,364 shares of the company’s stock, valued at approximately $8,369,081.84. This trade represents a 3.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Eric D. Ashleman sold 15,000 shares of the firm’s stock in a transaction on 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 sale, the director directly owned 42,350 shares of the company’s stock, valued at approximately $12,219,669. This trade represents a 26.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 54,302 shares of company stock worth $15,928,759. 1.92% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on MOD. Glj Research reissued a “buy” rating and issued a $428.00 target price on shares of Modine Manufacturing in a report on Monday, June 1st. KeyCorp decreased their price target on Modine Manufacturing from $370.00 to $280.00 and set an “overweight” rating for the company in a report on Thursday, July 30th. UBS Group lifted their price objective on shares of Modine Manufacturing to $310.00 and gave the company a “buy” rating in a research report on Wednesday, May 27th. DA Davidson reissued a “buy” rating and issued a $330.00 price objective on shares of Modine Manufacturing in a research note on Monday, June 22nd. Finally, B. Riley Financial restated a “buy” rating and set a $305.00 price objective (down from $340.00) on shares of Modine Manufacturing in a research report on Thursday, July 30th. Seven investment 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 a consensus rating of “Moderate Buy” and an average target price of $320.14.

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.