Tema ETFs LLC Buys 15,227 Shares of Modine Manufacturing Company $MOD

Tema ETFs LLC grew its holdings in shares of Modine Manufacturing Company (NYSE:MOD) by 15.5% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 113,679 shares of the auto parts company’s stock after purchasing an additional 15,227 shares during the quarter. Modine Manufacturing makes up approximately 1.0% of Tema ETFs LLC’s holdings, making the stock its 27th biggest position. Tema ETFs LLC’s holdings in Modine Manufacturing were worth $30,355,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Wellington Management Group LLP grew its position in Modine Manufacturing by 4.7% during the fourth quarter. Wellington Management Group LLP now owns 2,879,299 shares of the auto parts company’s stock valued at $384,415,000 after buying an additional 130,511 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in Modine Manufacturing by 31.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,333,174 shares of the auto parts company’s stock valued at $311,503,000 after buying an additional 560,131 shares during the last quarter. Wasatch Advisors LP raised its position in Modine Manufacturing by 1.4% in the second quarter. Wasatch Advisors LP now owns 1,792,413 shares of the auto parts company’s stock worth $176,553,000 after acquiring an additional 23,955 shares during the period. Capital Research Global Investors raised its position in Modine Manufacturing by 13.8% in the fourth quarter. Capital Research Global Investors now owns 1,478,224 shares of the auto parts company’s stock worth $197,358,000 after acquiring an additional 179,617 shares during the period. Finally, Invesco Ltd. boosted its stake in shares of Modine Manufacturing by 120.4% during the 4th quarter. Invesco Ltd. now owns 1,318,529 shares of the auto parts company’s stock worth $176,037,000 after acquiring an additional 720,389 shares during the last quarter. Institutional investors own 95.23% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on MOD shares. Glj Research reissued a “buy” rating and set a $428.00 price objective on shares of Modine Manufacturing in a research report on Monday, June 1st. KeyCorp decreased their target price on Modine Manufacturing from $370.00 to $280.00 and set an “overweight” rating on the stock in a report on Thursday, July 30th. Wall Street Zen downgraded Modine Manufacturing from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. B. Riley Financial reissued 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. Finally, DA Davidson restated a “buy” rating and issued a $330.00 price target on shares of Modine Manufacturing in a research report on Monday, June 22nd. Seven 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 target price of $320.14.

Insider Buying and Selling

In other Modine Manufacturing news, insider Eric S. Mcginnis sold 1,020 shares of the firm’s stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $295.06, for a total transaction of $300,961.20. Following the sale, the insider directly owned 28,364 shares of the company’s stock, valued at $8,369,081.84. This trade represents a 3.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Eric D. Ashleman sold 15,000 shares of the business’s 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 owned 42,350 shares in the company, valued at $12,219,669. The trade was a 26.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 54,302 shares of company stock valued at $15,928,759. Company insiders own 1.92% of the company’s stock.

Modine Manufacturing Stock Performance

MOD opened at $198.88 on Wednesday. The company has a 50 day simple moving average of $244.84 and a two-hundred day simple moving average of $234.04. 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 firm has a market cap of $10.56 billion, a P/E ratio of 74.77, a PEG ratio of 0.62 and a beta of 1.71. 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 data on Tuesday, July 28th. The auto parts company reported $1.53 EPS for the quarter, beating the consensus estimate of $1.27 by $0.26. The firm had revenue of $874.10 million for the quarter, compared to the consensus estimate of $878.69 million. Modine Manufacturing had a net margin of 4.28% and a return on equity of 25.59%. The company’s revenue was up 28.0% on a year-over-year basis. During the same period last year, the firm earned $0.95 EPS. Equities analysts forecast that Modine Manufacturing Company will post 7.65 earnings per share for the current fiscal year.

About Modine Manufacturing

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.