Tidal Investments LLC Raises Position in Modine Manufacturing Company $MOD

Tidal Investments LLC raised its holdings in Modine Manufacturing Company (NYSE:MOD) by 52.6% in the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 159,453 shares of the auto parts company’s stock after buying an additional 54,960 shares during the quarter. Tidal Investments LLC’s holdings in Modine Manufacturing were worth $42,577,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. V Square Quantitative Management LLC acquired a new stake in Modine Manufacturing during the 1st quarter worth about $25,000. Kemnay Advisory Services Inc. purchased a new stake in shares of Modine Manufacturing during the 4th quarter worth about $25,000. Sunbelt Securities Inc. purchased a new position in Modine Manufacturing during the third quarter worth approximately $39,000. Rakuten Securities Inc. acquired a new stake in Modine Manufacturing in the 2nd quarter valued at $40,000. Finally, PenderFund Capital Management Ltd. acquired a new stake in shares of Modine Manufacturing in the second quarter valued at about $42,000. 95.23% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on MOD. Wall Street Zen lowered Modine Manufacturing from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. B. Riley Financial restated a “buy” rating and set a $305.00 price target (down from $340.00) on shares of Modine Manufacturing in a report on Thursday, July 30th. Oppenheimer boosted their price objective on shares of Modine Manufacturing from $271.00 to $325.00 and gave the company an “outperform” rating in a report on Thursday, May 28th. KeyCorp restated an “overweight” rating and set a $280.00 price target on shares of Modine Manufacturing in a research note on Wednesday, September 2nd. Finally, Glj Research reissued a “buy” rating and set a $428.00 price target on shares of Modine Manufacturing in a research report on Monday, June 1st. Seven analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $320.14.

Insider Buying and Selling

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

Modine Manufacturing Stock Down 3.0%

Shares of NYSE MOD opened at $186.59 on Thursday. The business has a 50-day moving average of $208.82 and a two-hundred day moving average of $233.79. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.04 and a quick ratio of 1.22. The company has a market capitalization of $9.91 billion, a price-to-earnings ratio of 70.15, a price-to-earnings-growth ratio of 0.63 and a beta of 1.74. Modine Manufacturing Company has a 1 year low of $111.18 and a 1 year high of $323.25.

Modine Manufacturing (NYSE:MOD) last announced 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. The company had revenue of $874.10 million for the quarter, compared to analyst estimates of $878.69 million. Modine Manufacturing had a net margin of 4.28% and a return on equity of 25.59%. The firm’s revenue was up 28.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.95 earnings per share. On average, analysts forecast that Modine Manufacturing Company will post 7.65 earnings per share for the current fiscal year.

Modine Manufacturing Company 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.