Castleark Management LLC Increases Stock Holdings in Modine Manufacturing Company $MOD

Castleark Management LLC boosted its holdings in shares of Modine Manufacturing Company (NYSE:MOD) by 216.5% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 37,850 shares of the auto parts company’s stock after buying an additional 25,890 shares during the quarter. Castleark Management LLC’s holdings in Modine Manufacturing were worth $8,202,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Granahan Investment Management LLC grew its stake in shares of Modine Manufacturing by 15.7% during the first quarter. Granahan Investment Management LLC now owns 377,586 shares of the auto parts company’s stock worth $81,827,000 after acquiring an additional 51,112 shares during the last quarter. Entropy Technologies LP raised its position in shares of Modine Manufacturing by 347.8% in the 1st quarter. Entropy Technologies LP now owns 10,250 shares of the auto parts company’s stock valued at $2,221,000 after purchasing an additional 7,961 shares during the last quarter. Compound Planning Inc. acquired a new stake in Modine Manufacturing in the 1st quarter worth approximately $271,000. Gibbs Wealth Management boosted its stake in Modine Manufacturing by 65.2% in the 1st quarter. Gibbs Wealth Management now owns 7,049 shares of the auto parts company’s stock worth $1,528,000 after purchasing an additional 2,781 shares in the last quarter. Finally, State of Wyoming grew its position in Modine Manufacturing by 55.9% during the 1st quarter. State of Wyoming now owns 2,694 shares of the auto parts company’s stock worth $584,000 after purchasing an additional 966 shares during the last quarter. 95.23% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Modine Manufacturing

In other Modine Manufacturing news, insider Eric S. Mcginnis sold 1,020 shares of the company’s stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $295.06, for a total value of $300,961.20. Following the sale, the insider directly owned 28,364 shares of the company’s stock, valued at approximately $8,369,081.84. This represents a 3.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Brian Jon Agen sold 38,282 shares of the stock in a transaction dated 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 sale, the vice president directly owned 66,343 shares in the company, valued at $19,582,463.31. This represents a 36.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 54,302 shares of company stock worth $15,928,759 over the last three months. Company insiders own 1.92% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Weiss Ratings upgraded shares of Modine Manufacturing from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, May 28th. Wall Street Zen downgraded shares of Modine Manufacturing from a “buy” rating to a “hold” rating in a research note on Saturday. Zacks Research lowered shares of Modine Manufacturing from a “strong-buy” rating to a “hold” rating in a report on Monday, April 13th. B. Riley Financial upped their target price on Modine Manufacturing from $250.00 to $264.00 and gave the company a “buy” rating in a research report on Tuesday, May 26th. Finally, Glj Research restated a “buy” rating and issued a $428.00 target price on shares of Modine Manufacturing in a research note on Monday, June 1st. Seven investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $327.14.

Modine Manufacturing Stock Performance

MOD opened at $241.46 on Monday. The company has a current ratio of 1.94, a quick ratio of 1.25 and a debt-to-equity ratio of 0.32. Modine Manufacturing Company has a 12-month low of $98.90 and a 12-month high of $323.25. The firm has a 50 day moving average of $262.07 and a two-hundred day moving average of $228.23. The firm has a market capitalization of $12.82 billion, a PE ratio of 107.80, a P/E/G ratio of 0.78 and a beta of 1.67.

Modine Manufacturing (NYSE:MOD) last released its quarterly earnings data on Tuesday, May 26th. The auto parts company reported $1.71 EPS for the quarter, beating the consensus estimate of $1.51 by $0.20. The business had revenue of $954.40 million for the quarter, compared to the consensus estimate of $920.67 million. Modine Manufacturing had a net margin of 3.82% and a return on equity of 24.39%. The business’s revenue for the quarter was up 47.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.12 EPS. On average, analysts anticipate that Modine Manufacturing Company will post 7.72 EPS for the current year.

Modine Manufacturing 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.