Expect Equity LLC Purchases New Stake in Modine Manufacturing Company $MOD

Expect Equity LLC purchased a new stake in shares of Modine Manufacturing Company (NYSE:MOD) during the second quarter, HoldingsChannel reports. The institutional investor purchased 6,361 shares of the auto parts company’s stock, valued at approximately $1,699,000.

Several other institutional investors also recently bought and sold shares of the business. V Square Quantitative Management LLC purchased a new position in shares of Modine Manufacturing in the 1st quarter valued at $25,000. Kemnay Advisory Services Inc. purchased a new stake in Modine Manufacturing during the 4th quarter worth $25,000. Sunbelt Securities Inc. purchased a new stake in Modine Manufacturing during the 3rd quarter worth $39,000. Rakuten Securities Inc. acquired a new stake in Modine Manufacturing in the 2nd quarter valued at $40,000. Finally, Danske Bank A S acquired a new stake in Modine Manufacturing in the 3rd quarter valued at $43,000. 95.23% of the stock is currently owned by hedge funds and other institutional investors.

Modine Manufacturing Stock Down 0.0%

MOD stock opened at $188.29 on Wednesday. The company has a current ratio of 2.04, a quick ratio of 1.22 and a debt-to-equity ratio of 0.39. The firm has a 50 day simple moving average of $228.54 and a 200-day simple moving average of $236.15. The company has a market capitalization of $10.00 billion, a P/E ratio of 70.78, a PEG ratio of 0.62 and a beta of 1.71. Modine Manufacturing Company has a twelve month low of $111.18 and a twelve month high of $323.25.

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

Insiders Place Their Bets

In other news, insider Eric S. Mcginnis sold 1,020 shares of the business’s stock in a transaction that occurred 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 directly owned 28,364 shares in the company, valued at approximately $8,369,081.84. The trade was a 3.47% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Eric D. Ashleman sold 15,000 shares of the company’s stock in a transaction that occurred 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 sale, the director directly owned 42,350 shares in the company, valued at approximately $12,219,669. This represents a 26.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 54,302 shares of company stock valued at $15,928,759 in the last quarter. Insiders own 1.92% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on MOD shares. Oppenheimer boosted their price objective on Modine Manufacturing from $271.00 to $325.00 and gave the stock an “outperform” rating in a research note on Thursday, May 28th. UBS Group increased their target price on Modine Manufacturing to $310.00 and gave the company a “buy” rating in a research note on Wednesday, May 27th. DA Davidson reiterated a “buy” rating and set a $330.00 target price on shares of Modine Manufacturing in a report on Monday, June 22nd. Wall Street Zen lowered Modine Manufacturing from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. Finally, B. Riley Financial restated a “buy” rating and issued a $305.00 price target (down from $340.00) on shares of Modine Manufacturing in a report on Thursday, July 30th. Seven research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, Modine Manufacturing has a consensus rating of “Moderate Buy” and a consensus price target 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.