Flputnam Investment Management Co. Makes New Investment in Modine Manufacturing Company $MOD

Flputnam Investment Management Co. acquired a new stake in shares of Modine Manufacturing Company (NYSE:MOD) in the second quarter, according to its most recent disclosure with the SEC. The firm acquired 13,133 shares of the auto parts company’s stock, valued at approximately $3,507,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MOD. V Square Quantitative Management LLC bought a new position in shares of Modine Manufacturing during the 1st quarter valued at about $25,000. Kemnay Advisory Services Inc. bought a new stake in shares of Modine Manufacturing in the fourth quarter worth about $25,000. Sunbelt Securities Inc. purchased a new stake in shares of Modine Manufacturing in the third quarter worth about $39,000. Rakuten Securities Inc. purchased a new stake in shares of Modine Manufacturing in the second quarter worth about $40,000. Finally, PenderFund Capital Management Ltd. bought a new position in Modine Manufacturing during the second quarter valued at approximately $42,000. Institutional investors own 95.23% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on MOD shares. Wall Street Zen downgraded Modine Manufacturing from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. DA Davidson reiterated a “buy” rating and set a $330.00 target price on shares of Modine Manufacturing in a research report on Monday, June 22nd. Weiss Ratings reissued a “hold (c)” rating on shares of Modine Manufacturing in a report on Tuesday, August 25th. KeyCorp decreased their price target on shares of 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, B. Riley Financial reiterated a “buy” rating and set a $305.00 price objective (down from $340.00) on shares of Modine Manufacturing in a research report on Thursday, July 30th. Seven equities 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, Modine Manufacturing has a consensus rating of “Moderate Buy” and an average target price of $320.14.

Insider Buying and Selling at Modine Manufacturing

In other Modine Manufacturing news, Director Eric D. Ashleman sold 15,000 shares of the business’s stock in a transaction 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 owned 42,350 shares in the company, valued at $12,219,669. The trade was a 26.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Brian Jon Agen sold 38,282 shares of the stock in a transaction 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 completion of the sale, the vice president directly owned 66,343 shares in the company, valued at approximately $19,582,463.31. This represents a 36.59% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 54,302 shares of company stock worth $15,928,759 over the last quarter. Insiders own 1.92% of the company’s stock.

Modine Manufacturing Price Performance

NYSE:MOD opened at $177.47 on Monday. The firm has a market capitalization of $9.43 billion, a price-to-earnings ratio of 66.72, a PEG ratio of 0.58 and a beta of 1.71. 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 business has a 50 day simple moving average of $222.05 and a 200-day simple moving average of $235.54. Modine Manufacturing Company has a 1 year low of $111.18 and a 1 year high of $323.25.

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