Tema Etfs LLC Makes New Investment in Modine Manufacturing Company $MOD

Tema Etfs LLC purchased a new position in shares of Modine Manufacturing Company (NYSE:MOD) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 53,135 shares of the auto parts company’s stock, valued at approximately $7,094,000. Tema Etfs LLC owned about 0.10% of Modine Manufacturing as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of MOD. Allspring Global Investments Holdings LLC increased its position in Modine Manufacturing by 2.4% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 86,632 shares of the auto parts company’s stock worth $12,199,000 after acquiring an additional 2,016 shares during the period. Hennion & Walsh Asset Management Inc. raised its stake in Modine Manufacturing by 18.9% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 16,900 shares of the auto parts company’s stock valued at $2,256,000 after purchasing an additional 2,684 shares during the last quarter. Spire Wealth Management bought a new stake in Modine Manufacturing in the 4th quarter valued at $27,000. Norden Group LLC bought a new stake in Modine Manufacturing in the 4th quarter valued at $220,000. Finally, Moody National Bank Trust Division grew its position in Modine Manufacturing by 12.0% in the 4th quarter. Moody National Bank Trust Division now owns 22,197 shares of the auto parts company’s stock worth $2,964,000 after purchasing an additional 2,371 shares during the last quarter. 95.23% of the stock is owned by institutional investors.

Insider Buying and Selling at Modine Manufacturing

In other news, Director Suresh V. Garimella sold 1,100 shares of the stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $184.07, for a total value of $202,477.00. Following the completion of the transaction, the director directly owned 79,856 shares of the company’s stock, valued at approximately $14,699,093.92. This represents a 1.36% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 2.48% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on MOD. Roth Mkm initiated coverage on shares of Modine Manufacturing in a research report on Wednesday, February 18th. They set a “buy” rating and a $263.00 price objective for the company. DA Davidson reissued a “buy” rating and set a $265.00 target price on shares of Modine Manufacturing in a research report on Tuesday. Zacks Research upgraded Modine Manufacturing from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 30th. Oppenheimer upped their price target on Modine Manufacturing from $220.00 to $240.00 and gave the company an “outperform” rating in a report on Friday, February 6th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Modine Manufacturing in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $234.33.

Modine Manufacturing Trading Up 2.8%

Shares of MOD stock opened at $222.75 on Thursday. The firm has a fifty day moving average of $204.33 and a 200-day moving average of $166.37. The stock has a market cap of $11.75 billion, a price-to-earnings ratio of 123.75, a P/E/G ratio of 1.32 and a beta of 1.68. Modine Manufacturing Company has a 52-week low of $64.79 and a 52-week high of $243.80. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.28 and a current ratio of 2.19.

Modine Manufacturing (NYSE:MOD) last issued its earnings results on Wednesday, February 4th. The auto parts company reported $1.19 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.20. The business had revenue of $805.00 million for the quarter, compared to analyst estimates of $763.54 million. Modine Manufacturing had a net margin of 3.40% and a return on equity of 22.99%. The firm’s revenue was up 30.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.92 EPS. On average, equities research analysts forecast that Modine Manufacturing Company will post 3.88 earnings per share for the current fiscal year.

Modine Manufacturing Company 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.