Hudson Bay Capital Management LP Increases Holdings in Modine Manufacturing Company $MOD

Hudson Bay Capital Management LP grew its holdings in Modine Manufacturing Company (NYSE:MOD) by 62.1% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 173,417 shares of the auto parts company’s stock after acquiring an additional 66,417 shares during the period. Hudson Bay Capital Management LP’s holdings in Modine Manufacturing were worth $17,082,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Parkside Financial Bank & Trust raised its holdings in shares of Modine Manufacturing by 2,025.0% during the second quarter. Parkside Financial Bank & Trust now owns 425 shares of the auto parts company’s stock valued at $42,000 after acquiring an additional 405 shares in the last quarter. Maseco LLP bought a new position in Modine Manufacturing in the 2nd quarter worth $51,000. GAMMA Investing LLC lifted its position in shares of Modine Manufacturing by 52.6% in the 2nd quarter. GAMMA Investing LLC now owns 560 shares of the auto parts company’s stock worth $55,000 after purchasing an additional 193 shares during the period. Elevation Point Wealth Partners LLC bought a new stake in shares of Modine Manufacturing during the 2nd quarter valued at about $57,000. Finally, Allworth Financial LP increased its position in shares of Modine Manufacturing by 522.4% during the second quarter. Allworth Financial LP now owns 722 shares of the auto parts company’s stock valued at $71,000 after buying an additional 606 shares during the period. 95.23% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on MOD. KeyCorp raised their price objective on shares of Modine Manufacturing from $160.00 to $175.00 and gave the stock an “overweight” rating in a report on Tuesday, October 14th. DA Davidson restated a “buy” rating and issued a $200.00 target price on shares of Modine Manufacturing in a research note on Wednesday, November 19th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Modine Manufacturing in a research note on Monday, December 8th. Zacks Research lowered Modine Manufacturing from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 29th. Finally, Oppenheimer boosted their target price 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. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, Modine Manufacturing presently has an average rating of “Moderate Buy” and an average price target of $182.00.

Modine Manufacturing Stock Down 15.6%

Shares of NYSE:MOD opened at $139.43 on Monday. The company has a current ratio of 2.00, a quick ratio of 1.16 and a debt-to-equity ratio of 0.50. The stock has a fifty day simple moving average of $152.34 and a two-hundred day simple moving average of $131.27. Modine Manufacturing Company has a 12-month low of $64.79 and a 12-month high of $166.94. The stock has a market capitalization of $7.34 billion, a price-to-earnings ratio of 40.30, a PEG ratio of 0.89 and a beta of 1.69.

Modine Manufacturing (NYSE:MOD) last issued its quarterly 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. The firm had revenue of $738.90 million during the quarter, compared to the consensus estimate of $699.91 million. Modine Manufacturing had a return on equity of 23.19% and a net margin of 6.93%.The company’s revenue was up 12.3% on a year-over-year basis. During the same period last year, the company earned $0.97 earnings per share. On average, research analysts anticipate that Modine Manufacturing Company will post 3.88 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Modine Manufacturing news, CEO Neil David Brinker sold 31,871 shares of Modine Manufacturing stock in a transaction dated 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 completion of the transaction, the chief executive officer directly owned 238,312 shares of the company’s stock, valued at approximately $38,263,374.72. The trade was a 11.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.48% of the company’s stock.

Modine Manufacturing Company Profile

Modine Manufacturing Company provides thermal management products and solutions in the United States, Italy, Hungary, China, the United Kingdom, and internationally. It operates through Climate Solutions and Performance Technologies segments. The company offers heat transfer coils, including heat recovery and round tube plate fin coils; gas-fired, hydronic, electric and oilfired unit heaters; roof-mounted direct- and indirect-fired makeup air units; duct furnaces; infrared units; perimeter heating products; single packaged unit ventilators; modular chillers; air handler and condensing units; ceiling cassettes; evaporator unit coolers, remote condensers, fluid coolers, gas coolers, and dry and brine coolers; and motor and generator cooling coils, transformer oil coolers, radiators, dryers, and industrial heat exchangers.