Castleark Management LLC Takes $7.47 Million Position in Modine Manufacturing Company $MOD

Castleark Management LLC bought a new stake in Modine Manufacturing Company (NYSE:MOD) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 27,970 shares of the auto parts company’s stock, valued at approximately $7,469,000. Castleark Management LLC owned 0.05% of Modine Manufacturing as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Modine Manufacturing by 26.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,223 shares of the auto parts company’s stock valued at $2,857,000 after acquiring an additional 7,831 shares in the last quarter. California Public Employees Retirement System grew its holdings in shares of Modine Manufacturing by 8.3% during the 2nd quarter. California Public Employees Retirement System now owns 68,702 shares of the auto parts company’s stock worth $6,767,000 after purchasing an additional 5,244 shares in the last quarter. State Street Corp increased its position in shares of Modine Manufacturing by 4.2% during the second quarter. State Street Corp now owns 1,309,488 shares of the auto parts company’s stock valued at $128,985,000 after purchasing an additional 53,351 shares during the period. Qube Research & Technologies Ltd raised its stake in shares of Modine Manufacturing by 106.3% in the second quarter. Qube Research & Technologies Ltd now owns 161,319 shares of the auto parts company’s stock valued at $15,890,000 after purchasing an additional 83,105 shares in the last quarter. Finally, Sei Investments Co. lifted its position in Modine Manufacturing by 70.8% in the second quarter. Sei Investments Co. now owns 309,653 shares of the auto parts company’s stock worth $30,501,000 after purchasing an additional 128,348 shares during the period. 95.23% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

MOD has been the topic of several 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 decreased their target price on shares of Modine Manufacturing from $370.00 to $280.00 and set an “overweight” rating on the stock in a research report on Thursday, July 30th. DA Davidson reissued a “buy” rating and issued a $330.00 target price on shares of Modine Manufacturing in a research note on Monday, June 22nd. Oppenheimer increased their price target on shares of Modine Manufacturing from $271.00 to $325.00 and gave the stock an “outperform” rating in a research report on Thursday, May 28th. Finally, Wall Street Zen cut shares of Modine Manufacturing from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. Seven research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $320.14.

Insider Buying and Selling

In other Modine Manufacturing news, VP Brian Jon Agen sold 38,282 shares of the business’s stock in a transaction dated 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 sale, the vice president owned 66,343 shares of the company’s stock, valued at $19,582,463.31. The trade was a 36.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at 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 firm’s 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 completion of the transaction, the director owned 42,350 shares in the company, valued at $12,219,669. The trade was a 26.16% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 54,302 shares of company stock valued at $15,928,759. 1.92% of the stock is owned by insiders.

Modine Manufacturing Price Performance

MOD opened at $188.29 on Wednesday. Modine Manufacturing Company has a 12 month low of $111.18 and a 12 month high of $323.25. The company has a fifty day simple moving average of $228.54 and a 200 day simple moving average of $236.15. The stock has a market cap of $10.00 billion, a P/E ratio of 70.78, a P/E/G ratio of 0.62 and a beta of 1.71. The company has a quick ratio of 1.22, a current ratio of 2.04 and a debt-to-equity ratio of 0.39.

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