13,160 Shares in Modine Manufacturing Company $MOD Purchased by Perigon Wealth Management LLC

Perigon Wealth Management LLC bought a new position in Modine Manufacturing Company (NYSE:MOD) in the 2nd quarter, HoldingsChannel reports. The fund bought 13,160 shares of the auto parts company’s stock, valued at approximately $3,514,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. TimesSquare Capital Management LLC acquired a new position in shares of Modine Manufacturing in the 2nd quarter valued at about $16,297,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Modine Manufacturing during the second quarter worth about $349,000. Persistent Asset Partners Ltd acquired a new stake in Modine Manufacturing during the second quarter worth about $72,000. OneDigital Investment Advisors LLC bought a new position in Modine Manufacturing in the second quarter worth about $245,000. Finally, Simplicity Wealth LLC bought a new position in Modine Manufacturing in the second quarter worth about $343,000. 95.23% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently issued reports on MOD. UBS Group raised their price target on Modine Manufacturing to $310.00 and gave the stock a “buy” rating in a report on Wednesday, May 27th. B. Riley Financial restated a “buy” rating and set a $305.00 price objective (down from $340.00) on shares of Modine Manufacturing in a research note on Thursday, July 30th. DA Davidson reaffirmed a “buy” rating and issued a $330.00 target price on shares of Modine Manufacturing in a research report on Monday, June 22nd. KeyCorp cut 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. Finally, Glj Research reissued a “buy” rating and set a $428.00 price target on shares of Modine Manufacturing in a report on Monday, June 1st. Seven analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Modine Manufacturing has a consensus rating of “Moderate Buy” and an average target price of $320.14.

Insider Buying and Selling

In related 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 transaction of $11,299,697.94. Following the transaction, the vice president owned 66,343 shares in the company, valued at $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 is available 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 stock was sold at an average price of $288.54, for a total value of $4,328,100.00. Following the sale, the director directly owned 42,350 shares in the company, valued at approximately $12,219,669. The trade was a 26.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 54,302 shares of company stock valued at $15,928,759 over the last 90 days. 1.92% of the stock is currently owned by company insiders.

Modine Manufacturing Stock Up 3.8%

MOD opened at $217.56 on Tuesday. The stock’s 50 day moving average price is $238.43 and its 200 day moving average price is $235.75. 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 stock has a market cap of $11.55 billion, a P/E ratio of 81.79, a P/E/G ratio of 0.68 and a beta of 1.71. Modine Manufacturing Company has a 12 month low of $111.18 and a 12 month high of $323.25.

Modine Manufacturing (NYSE:MOD) last announced its quarterly earnings results on Tuesday, July 28th. The auto parts company reported $1.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.27 by $0.26. Modine Manufacturing had a return on equity of 25.59% and a net margin of 4.28%.The company had revenue of $874.10 million during the quarter, compared to analyst estimates of $878.69 million. During the same quarter in the previous year, the firm posted $0.95 EPS. The firm’s quarterly revenue was up 28.0% on a year-over-year basis. As a group, research analysts predict that Modine Manufacturing Company will post 7.65 earnings per share for the current 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.