Koshinski Asset Management Inc. Takes Position in Modine Manufacturing Company $MOD

Koshinski Asset Management Inc. purchased a new position in Modine Manufacturing Company (NYSE:MOD) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,519 shares of the auto parts company’s stock, valued at approximately $546,000.

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

Wall Street Analysts Forecast Growth

MOD has been the subject of several research analyst reports. Glj Research reissued a “buy” rating and issued a $428.00 price target on shares of Modine Manufacturing in a report on Monday, June 1st. KeyCorp raised their price target on shares of Modine Manufacturing from $250.00 to $370.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 27th. Wall Street Zen raised Modine Manufacturing from a “hold” rating to a “buy” rating in a research report on Saturday, May 30th. DA Davidson restated a “buy” rating and set a $330.00 target price on shares of Modine Manufacturing in a report on Monday, June 22nd. Finally, 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. Seven equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $327.14.

Modine Manufacturing Price Performance

Modine Manufacturing stock opened at $230.60 on Wednesday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.94 and a quick ratio of 1.25. Modine Manufacturing Company has a one year low of $86.48 and a one year high of $323.25. The firm has a market cap of $12.18 billion, a PE ratio of 102.95, a price-to-earnings-growth ratio of 0.76 and a beta of 1.67. The stock’s fifty day moving average price is $269.56 and its two-hundred day moving average price is $218.97.

Modine Manufacturing (NYSE:MOD) last posted its quarterly earnings data on Tuesday, May 26th. The auto parts company reported $1.71 earnings per share for the quarter, topping the consensus estimate of $1.51 by $0.20. Modine Manufacturing had a net margin of 3.82% and a return on equity of 24.39%. The business had revenue of $954.40 million during the quarter, compared to analysts’ expectations of $920.67 million. During the same quarter in the prior year, the business posted $1.12 earnings per share. Modine Manufacturing’s revenue was up 47.5% compared to the same quarter last year. As a group, research analysts expect that Modine Manufacturing Company will post 7.73 EPS for the current fiscal year.

Insider Buying and Selling at Modine Manufacturing

In other news, Director Eric D. Ashleman sold 15,000 shares of Modine Manufacturing stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $288.54, for a total value of $4,328,100.00. Following the transaction, the director owned 42,350 shares in the company, valued at approximately $12,219,669. This trade represents a 26.16% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Brian Jon Agen sold 38,282 shares of the business’s stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $295.17, for a total value of $11,299,697.94. Following the transaction, the vice president directly owned 66,343 shares of the company’s stock, valued at $19,582,463.31. This trade represents a 36.59% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 54,302 shares of company stock valued at $15,928,759. 2.48% of the stock is currently owned by corporate insiders.

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.