Global Retirement Partners LLC Buys Shares of 7,316 Modine Manufacturing Company $MOD

Global Retirement Partners LLC purchased a new stake in Modine Manufacturing Company (NYSE:MOD) in the second quarter, HoldingsChannel reports. The firm purchased 7,316 shares of the auto parts company’s stock, valued at approximately $1,954,000.

Several other hedge funds and other institutional investors have also made changes to their positions in MOD. V Square Quantitative Management LLC purchased a new stake in shares of Modine Manufacturing in the 1st quarter worth about $25,000. Kemnay Advisory Services Inc. purchased a new position in Modine Manufacturing during the 4th quarter valued at about $25,000. Sunbelt Securities Inc. purchased a new position in Modine Manufacturing during the 3rd quarter valued at about $39,000. Danske Bank A S acquired a new position in Modine Manufacturing during the third quarter worth about $43,000. Finally, Root Financial Partners LLC lifted its holdings in shares of Modine Manufacturing by 140.5% in the fourth quarter. Root Financial Partners LLC now owns 368 shares of the auto parts company’s stock valued at $49,000 after purchasing an additional 215 shares in the last quarter. Institutional investors and hedge funds own 95.23% of the company’s stock.

Insider Buying and Selling

In other Modine Manufacturing news, insider Eric S. Mcginnis sold 1,020 shares of the firm’s stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $295.06, for a total value of $300,961.20. Following the sale, the insider directly owned 28,364 shares of the company’s stock, valued at approximately $8,369,081.84. This trade represents a 3.47% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Brian Jon Agen sold 38,282 shares of Modine Manufacturing 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. This trade 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. Over the last ninety days, insiders have sold 54,302 shares of company stock worth $15,928,759. 1.92% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have recently commented on MOD shares. Glj Research reiterated a “buy” rating and issued a $428.00 price target on shares of Modine Manufacturing in a research report on Monday, June 1st. KeyCorp reduced 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. UBS Group increased their target price on Modine Manufacturing to $310.00 and gave the company a “buy” rating in a report on Wednesday, May 27th. Wall Street Zen downgraded Modine Manufacturing from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. Finally, DA Davidson reissued a “buy” rating and issued a $330.00 price target on shares of Modine Manufacturing in a report on Monday, June 22nd. Seven analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $320.14.

Modine Manufacturing Trading Up 0.1%

Shares of MOD opened at $209.67 on Monday. Modine Manufacturing Company has a fifty-two week low of $111.18 and a fifty-two week high of $323.25. The company has a market capitalization of $11.14 billion, a PE ratio of 78.82, a price-to-earnings-growth ratio of 0.68 and a beta of 1.71. The stock has a fifty day moving average of $239.57 and a two-hundred day moving average of $235.26. 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 posted its quarterly earnings data on Tuesday, July 28th. The auto parts company reported $1.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.27 by $0.26. The business had revenue of $874.10 million for the quarter, compared to analysts’ expectations of $878.69 million. Modine Manufacturing had a return on equity of 25.59% and a net margin of 4.28%.The business’s revenue was up 28.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.95 earnings per share. As a group, analysts forecast 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.