Silvant Capital Management LLC Invests $6.32 Million in Modine Manufacturing Company $MOD

Silvant Capital Management LLC purchased a new position in Modine Manufacturing Company (NYSE:MOD) during the second quarter, HoldingsChannel reports. The firm purchased 23,680 shares of the auto parts company’s stock, valued at approximately $6,323,000.

Other hedge funds have also recently made changes to their positions in the company. Vise Technologies Inc. purchased a new position in Modine Manufacturing in the 2nd quarter worth about $946,000. Edmond DE Rothschild Holding S.A. purchased a new stake in Modine Manufacturing in the 2nd quarter valued at about $3,250,000. Geneva Partners LLC purchased a new stake in Modine Manufacturing in the 2nd quarter valued at about $11,258,000. Lisanti Capital Growth LLC bought a new position in Modine Manufacturing in the 2nd quarter worth about $6,402,000. Finally, Diversify Advisory Services LLC bought a new position in Modine Manufacturing in the 2nd quarter worth about $213,000. 95.23% of the stock is currently owned by institutional investors.

Modine Manufacturing Stock Down 2.6%

Shares of NYSE MOD opened at $190.15 on Friday. The company has a current ratio of 2.04, a quick ratio of 1.22 and a debt-to-equity ratio of 0.39. The stock has a market capitalization of $10.10 billion, a PE ratio of 71.48, a price-to-earnings-growth ratio of 0.64 and a beta of 1.71. The stock’s fifty day simple moving average is $233.94 and its two-hundred day simple moving average is $236.29. Modine Manufacturing Company has a 12-month low of $111.18 and a 12-month high of $323.25.

Modine Manufacturing (NYSE:MOD) last released its quarterly earnings results on Tuesday, July 28th. The auto parts company reported $1.53 EPS for the quarter, topping the consensus estimate of $1.27 by $0.26. The firm had revenue of $874.10 million during the quarter, compared to analyst estimates 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 for the quarter was up 28.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.95 EPS. As a group, analysts expect that Modine Manufacturing Company will post 7.65 EPS for the current fiscal year.

Insider Buying and Selling at Modine Manufacturing

In other news, VP Brian Jon Agen sold 38,282 shares of Modine Manufacturing stock in a transaction that occurred on 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 transaction, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Eric S. Mcginnis sold 1,020 shares of the business’s stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $295.06, for a total transaction of $300,961.20. Following the transaction, the insider 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. Additional details regarding this sale are available in the official SEC disclosure. 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.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on MOD shares. UBS Group raised their target price on shares of Modine Manufacturing to $310.00 and gave the stock a “buy” rating in a research report on Wednesday, May 27th. DA Davidson reissued a “buy” rating and issued a $330.00 price objective on shares of Modine Manufacturing in a research note on Monday, June 22nd. Wall Street Zen cut Modine Manufacturing from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. KeyCorp reduced their price objective on Modine Manufacturing from $370.00 to $280.00 and set an “overweight” rating on the stock in a report on Thursday, July 30th. Finally, Oppenheimer lifted their target price on Modine Manufacturing from $271.00 to $325.00 and gave the company an “outperform” rating in a research report on Thursday, May 28th. Seven analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $320.14.

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.