Maxi Investments CY Ltd Invests $1.57 Million in Modine Manufacturing Company $MOD

Maxi Investments CY Ltd purchased a new stake in shares of Modine Manufacturing Company (NYSE:MOD) in the 2nd quarter, Holdings Channel reports. The fund purchased 5,900 shares of the auto parts company’s stock, valued at approximately $1,575,000.

A number of other large investors have also recently modified their holdings of the company. Optiver Holding B.V. grew its stake in Modine Manufacturing by 19.7% in the first quarter. Optiver Holding B.V. now owns 237 shares of the auto parts company’s stock worth $51,000 after purchasing an additional 39 shares in the last quarter. World Investment Advisors raised its position in Modine Manufacturing by 4.1% during the 1st quarter. World Investment Advisors now owns 1,643 shares of the auto parts company’s stock valued at $356,000 after purchasing an additional 65 shares in the last quarter. Xponance LLC raised its position in Modine Manufacturing by 1.7% during the 4th quarter. Xponance LLC now owns 4,424 shares of the auto parts company’s stock valued at $591,000 after purchasing an additional 75 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of Modine Manufacturing by 6.1% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,780 shares of the auto parts company’s stock worth $386,000 after buying an additional 103 shares during the period. Finally, NewEdge Advisors LLC lifted its holdings in shares of Modine Manufacturing by 18.3% in the 4th quarter. NewEdge Advisors LLC now owns 680 shares of the auto parts company’s stock worth $91,000 after buying an additional 105 shares during the period. Hedge funds and other institutional investors own 95.23% of the company’s stock.

Insider Activity at Modine Manufacturing

In other Modine Manufacturing news, Director Eric D. Ashleman sold 15,000 shares of Modine Manufacturing stock in a transaction on 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 transaction, the director directly owned 42,350 shares of the company’s stock, valued at approximately $12,219,669. The trade was a 26.16% 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 the SEC website. Also, VP Brian Jon Agen sold 38,282 shares of the company’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 in the company, valued at approximately $19,582,463.31. The trade was 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 valued at $15,928,759 over the last 90 days. Insiders own 1.92% of the company’s stock.

Modine Manufacturing Stock Performance

MOD stock opened at $198.03 on Monday. The firm has a market cap of $10.52 billion, a price-to-earnings ratio of 74.45, a PEG ratio of 0.65 and a beta of 1.71. The firm has a 50-day simple moving average of $232.44 and a two-hundred day simple moving average of $236.31. Modine Manufacturing Company has a one year low of $111.18 and a one year high of $323.25. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.22 and a current ratio of 2.04.

Modine Manufacturing (NYSE:MOD) last released its quarterly earnings results on Wednesday, July 29th. The auto parts company reported $1.53 earnings per share for the quarter, beating analysts’ consensus estimates of $1.27 by $0.26. Modine Manufacturing had a net margin of 4.28% and a return on equity of 25.59%. The business had revenue of $874.10 million for the quarter, compared to analysts’ expectations of $878.69 million. During the same period last year, the business earned $0.95 EPS. The company’s revenue was up 28.0% compared to the same quarter last year. On average, equities analysts forecast that Modine Manufacturing Company will post 7.65 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently commented on MOD shares. Oppenheimer raised their price target on Modine Manufacturing from $271.00 to $325.00 and gave the company an “outperform” rating in a research note on Thursday, May 28th. UBS Group upped their price objective on shares of Modine Manufacturing to $310.00 and gave the stock a “buy” rating in a research note on Wednesday, May 27th. B. Riley Financial reiterated a “buy” rating and set a $305.00 target price (down from $340.00) on shares of Modine Manufacturing in a report on Thursday, July 30th. Wall Street Zen downgraded shares of Modine Manufacturing from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. Finally, Glj Research reissued a “buy” rating and set a $428.00 target price on shares of Modine Manufacturing in a research 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 MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $320.14.

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.