PEAK6 LLC Makes New Investment in Modine Manufacturing Company $MOD

PEAK6 LLC bought a new position in Modine Manufacturing Company (NYSE:MOD) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 26,434 shares of the auto parts company’s stock, valued at approximately $7,058,000.

A number of other hedge funds also recently made changes to their positions in MOD. V Square Quantitative Management LLC acquired a new stake in Modine Manufacturing in the first quarter valued at approximately $25,000. Rakuten Securities Inc. bought a new stake in shares of Modine Manufacturing during the second quarter worth $40,000. Kemnay Advisory Services Inc. acquired a new position in shares of Modine Manufacturing during the fourth quarter worth $25,000. Optiver Holding B.V. increased its holdings in shares of Modine Manufacturing by 19.7% during the first quarter. Optiver Holding B.V. now owns 237 shares of the auto parts company’s stock worth $51,000 after buying an additional 39 shares in the last quarter. Finally, Keating Financial Advisory Services Inc. bought a new position in shares of Modine Manufacturing in the 2nd quarter valued at $65,000. 95.23% of the stock is currently owned by institutional investors and hedge funds.

Modine Manufacturing Price Performance

MOD stock opened at $198.03 on Monday. 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 firm has a market cap of $10.52 billion, a price-to-earnings ratio of 74.45, a PEG ratio of 0.65 and a beta of 1.71. The company’s fifty day simple moving average is $232.44 and its 200 day simple moving average is $236.31. Modine Manufacturing Company has a 12-month low of $111.18 and a 12-month high of $323.25.

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, topping analysts’ consensus estimates of $1.27 by $0.26. Modine Manufacturing had a return on equity of 25.59% and a net margin of 4.28%.The firm had revenue of $874.10 million during the quarter, compared to the consensus estimate of $878.69 million. During the same period last year, the business posted $0.95 EPS. The business’s revenue was up 28.0% compared to the same quarter last year. On average, analysts expect that Modine Manufacturing Company will post 7.65 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Eric S. Mcginnis sold 1,020 shares of the business’s stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $295.06, for a total transaction of $300,961.20. Following the transaction, the insider owned 28,364 shares in the company, valued at $8,369,081.84. The trade was a 3.47% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Eric D. Ashleman sold 15,000 shares of the stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $288.54, for a total transaction of $4,328,100.00. Following 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 position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 54,302 shares of company stock worth $15,928,759. 1.92% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. DA Davidson restated a “buy” rating and set a $330.00 price objective on shares of Modine Manufacturing in a research report on Monday, June 22nd. B. Riley Financial reiterated a “buy” rating and issued a $305.00 target price (down from $340.00) on shares of Modine Manufacturing in a research report on Thursday, July 30th. Weiss Ratings upgraded Modine Manufacturing from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, May 28th. Oppenheimer upped their price objective on Modine Manufacturing from $271.00 to $325.00 and gave the company an “outperform” rating in a research note on Thursday, May 28th. Finally, KeyCorp dropped their price objective on shares of Modine Manufacturing from $370.00 to $280.00 and set an “overweight” rating for the company in a report on Thursday, July 30th. Seven 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.com, Modine Manufacturing presently has a consensus rating of “Moderate Buy” and a consensus target price of $320.14.

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.