Rational Advisors Inc. Acquires Shares of 2,991 Modine Manufacturing Company $MOD

Rational Advisors Inc. bought a new stake in Modine Manufacturing Company (NYSE:MOD) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 2,991 shares of the auto parts company’s stock, valued at approximately $799,000.

Other hedge funds have also made changes to their positions in the company. V Square Quantitative Management LLC purchased a new position in shares of Modine Manufacturing during the first quarter worth about $25,000. Rakuten Securities Inc. purchased a new stake in Modine Manufacturing during the 2nd quarter valued at approximately $40,000. PenderFund Capital Management Ltd. purchased a new stake in Modine Manufacturing during the 2nd quarter valued at approximately $42,000. Kemnay Advisory Services Inc. acquired a new stake in Modine Manufacturing during the 4th quarter worth approximately $25,000. Finally, Vega Investment Solutions acquired a new stake in Modine Manufacturing during the 2nd quarter worth approximately $52,000. Institutional investors and hedge funds own 95.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on MOD shares. KeyCorp lowered their target price on Modine Manufacturing from $370.00 to $280.00 and set an “overweight” rating on the stock in a research note on Thursday, July 30th. Glj Research restated a “buy” rating and set a $428.00 price target on shares of Modine Manufacturing in a research note on Monday, June 1st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Modine Manufacturing in a report on Tuesday. DA Davidson reiterated a “buy” rating and issued a $330.00 price objective on shares of Modine Manufacturing in a research report on Monday, June 22nd. Finally, 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 research note on Thursday, May 28th. Seven research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $320.14.

Insiders Place Their Bets

In other Modine Manufacturing news, Director Eric D. Ashleman sold 15,000 shares of the stock in a transaction dated 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 transaction, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Eric S. Mcginnis sold 1,020 shares of Modine Manufacturing stock in a transaction that occurred 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 sale, the insider owned 28,364 shares of the company’s stock, valued at approximately $8,369,081.84. The trade was a 3.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 54,302 shares of company stock worth $15,928,759. 1.92% of the stock is owned by company insiders.

Modine Manufacturing Price Performance

Shares of NYSE MOD opened at $177.47 on Friday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.22 and a current ratio of 2.04. Modine Manufacturing Company has a one year low of $111.18 and a one year high of $323.25. The firm has a market capitalization of $9.43 billion, a P/E ratio of 66.72, a PEG ratio of 0.58 and a beta of 1.71. The company’s fifty day moving average is $222.05 and its two-hundred day moving average is $235.42.

Modine Manufacturing (NYSE:MOD) last announced its quarterly earnings results on Wednesday, July 29th. The auto parts company reported $1.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.27 by $0.26. Modine Manufacturing had a net margin of 4.28% and a return on equity of 25.59%. The business had revenue of $874.10 million during the quarter, compared to the consensus estimate of $878.69 million. During the same quarter last year, the firm posted $0.95 EPS. The business’s revenue was up 28.0% compared to the same quarter last year. Analysts forecast that Modine Manufacturing Company will post 7.65 EPS 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.