Mediolanum International Funds Ltd Makes New Investment in Modine Manufacturing Company $MOD

Mediolanum International Funds Ltd bought a new stake in Modine Manufacturing Company (NYSE:MOD) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 121,553 shares of the auto parts company’s stock, valued at approximately $24,576,000.

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

Modine Manufacturing Stock Performance

NYSE:MOD opened at $229.31 on Friday. The business’s fifty day moving average is $265.89 and its 200 day moving average is $223.86. The firm has a market cap of $12.18 billion, a price-to-earnings ratio of 102.37, a PEG ratio of 0.74 and a beta of 1.67. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.25 and a current ratio of 1.94. Modine Manufacturing Company has a 52-week low of $90.41 and a 52-week high of $323.25.

Modine Manufacturing (NYSE:MOD) last issued its earnings results on Tuesday, May 26th. The auto parts company reported $1.71 EPS for the quarter, topping the consensus estimate of $1.51 by $0.20. The business had revenue of $954.40 million during the quarter, compared to the consensus estimate of $920.67 million. Modine Manufacturing had a return on equity of 24.39% and a net margin of 3.82%.The firm’s revenue was up 47.5% compared to the same quarter last year. During the same quarter last year, the company earned $1.12 EPS. Research analysts predict that Modine Manufacturing Company will post 7.72 EPS for the current year.

Insider Activity

In other news, VP Brian Jon Agen sold 38,282 shares of the firm’s stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $295.17, for a total value of $11,299,697.94. Following the completion of the transaction, the vice president directly owned 66,343 shares in the company, valued at approximately $19,582,463.31. This trade represents a 36.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Eric D. Ashleman sold 15,000 shares of the business’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 transaction of $4,328,100.00. Following the transaction, the director directly owned 42,350 shares of the company’s stock, valued at approximately $12,219,669. This represents a 26.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 54,302 shares of company stock worth $15,928,759 over the last ninety days. Company insiders own 2.48% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on MOD. KeyCorp upped their price objective on shares of Modine Manufacturing from $250.00 to $370.00 and gave the company an “overweight” rating in a report on Wednesday, May 27th. UBS Group boosted their price target on shares of Modine Manufacturing to $310.00 and gave the company a “buy” rating in a research report on Wednesday, May 27th. Wall Street Zen upgraded shares of Modine Manufacturing from a “hold” rating to a “buy” rating in a research note on Saturday, May 30th. DA Davidson restated a “buy” rating and set a $330.00 price target on shares of Modine Manufacturing in a research note on Monday, June 22nd. Finally, B. Riley Financial raised their price objective on shares of Modine Manufacturing from $250.00 to $264.00 and gave the stock a “buy” rating in a report on Tuesday, May 26th. Seven analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $327.14.

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.