Jupiter Topco LLC Purchases New Holdings in Modine Manufacturing Company $MOD

Jupiter Topco LLC acquired a new stake in shares of Modine Manufacturing Company (NYSE:MOD) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 463,924 shares of the auto parts company’s stock, valued at approximately $123,873,000. Jupiter Topco LLC owned about 0.87% of Modine Manufacturing as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in MOD. V Square Quantitative Management LLC acquired a new position in shares of Modine Manufacturing in the first quarter valued at approximately $25,000. Rakuten Securities Inc. purchased a new position in Modine Manufacturing in the 2nd quarter valued at $40,000. Kemnay Advisory Services Inc. purchased a new position in Modine Manufacturing in the 4th quarter valued at $25,000. Vega Investment Solutions acquired a new position in Modine Manufacturing in the 2nd quarter valued at $52,000. Finally, Optiver Holding B.V. raised its position in Modine Manufacturing by 19.7% during the 1st quarter. Optiver Holding B.V. now owns 237 shares of the auto parts company’s stock worth $51,000 after buying an additional 39 shares during the last quarter. 95.23% of the stock is owned by institutional investors and hedge funds.

Modine Manufacturing Price Performance

Shares of NYSE MOD opened at $187.25 on Thursday. 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 Company has a one year low of $111.18 and a one year high of $323.25. The firm has a market capitalization of $9.94 billion, a P/E ratio of 70.39, a PEG ratio of 0.61 and a beta of 1.71. The company’s fifty day moving average is $226.58 and its two-hundred day moving average is $236.03.

Modine Manufacturing (NYSE:MOD) last announced its quarterly earnings results 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. Modine Manufacturing had a net margin of 4.28% and a return on equity of 25.59%. The business had revenue of $874.10 million during the quarter, compared to the consensus estimate of $878.69 million. During the same quarter last year, the firm posted $0.95 EPS. The business’s revenue was up 28.0% compared to the same quarter last year. Analysts forecast that Modine Manufacturing Company will post 7.65 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on MOD shares. Wall Street Zen cut shares of Modine Manufacturing from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. B. Riley Financial reissued a “buy” rating and set a $305.00 price target (down from $340.00) on shares of Modine Manufacturing in a report on Thursday, July 30th. UBS Group lifted their price objective on Modine Manufacturing to $310.00 and gave the company a “buy” rating in a report on Wednesday, May 27th. Oppenheimer boosted their target price on Modine Manufacturing from $271.00 to $325.00 and gave the stock an “outperform” rating in a research report on Thursday, May 28th. Finally, Weiss Ratings raised Modine Manufacturing from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, May 28th. Seven investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $320.14.

Insiders Place Their Bets

In other Modine Manufacturing news, Director Eric D. Ashleman sold 15,000 shares of the stock in a transaction dated Tuesday, June 16th. The shares were 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 directly owned 42,350 shares of the company’s stock, valued at approximately $12,219,669. This trade represents a 26.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Eric S. Mcginnis sold 1,020 shares of Modine Manufacturing stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $295.06, for a total transaction of $300,961.20. Following the sale, the insider owned 28,364 shares of the company’s stock, valued at approximately $8,369,081.84. The trade was a 3.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 54,302 shares of company stock worth $15,928,759. 1.92% of the stock is owned by company insiders.

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.