OP Asset Management Ltd Takes Position in Modine Manufacturing Company $MOD

OP Asset Management Ltd bought a new stake in shares of Modine Manufacturing Company (NYSE:MOD) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 3,823 shares of the auto parts company’s stock, valued at approximately $828,000.

Several other hedge funds also recently bought and sold shares of MOD. Kemnay Advisory Services Inc. bought a new stake in Modine Manufacturing during the fourth quarter valued at about $25,000. Spire Wealth Management purchased a new position in shares of Modine Manufacturing in the fourth quarter valued at about $27,000. Sunbelt Securities Inc. bought a new position in shares of Modine Manufacturing in the third quarter worth about $39,000. Danske Bank A S bought a new position in shares of Modine Manufacturing in the third quarter worth about $43,000. Finally, Root Financial Partners LLC grew its position in shares of Modine Manufacturing by 140.5% during the fourth quarter. Root Financial Partners LLC now owns 368 shares of the auto parts company’s stock worth $49,000 after purchasing an additional 215 shares in the last quarter. Institutional investors own 95.23% of the company’s stock.

Insider Activity

In other news, Director Eric D. Ashleman sold 15,000 shares of the stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $288.54, for a total transaction of $4,328,100.00. Following the completion of the transaction, the director directly owned 42,350 shares in the company, valued at approximately $12,219,669. This represents a 26.16% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Brian Jon Agen sold 38,282 shares of the business’s stock in a transaction on Thursday, June 18th. The stock was 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 owned 66,343 shares in the company, valued at $19,582,463.31. This represents a 36.59% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 54,302 shares of company stock worth $15,928,759. 2.48% of the stock is currently owned by insiders.

Modine Manufacturing Price Performance

NYSE:MOD opened at $256.46 on Tuesday. The company has a current ratio of 1.94, a quick ratio of 1.25 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $13.55 billion, a P/E ratio of 114.49, a P/E/G ratio of 0.83 and a beta of 1.65. Modine Manufacturing Company has a 12 month low of $86.48 and a 12 month high of $323.25. The business’s 50-day moving average is $270.70 and its 200 day moving average is $215.01.

Modine Manufacturing (NYSE:MOD) last announced its quarterly earnings results on Tuesday, May 26th. The auto parts company reported $1.71 EPS for the quarter, beating analysts’ consensus estimates of $1.51 by $0.20. Modine Manufacturing had a return on equity of 24.39% and a net margin of 3.82%.The company had revenue of $954.40 million during the quarter, compared to analyst estimates of $920.67 million. During the same period in the prior year, the company earned $1.12 earnings per share. The firm’s revenue was up 47.5% on a year-over-year basis. On average, equities research analysts forecast that Modine Manufacturing Company will post 7.73 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Zacks Research downgraded Modine Manufacturing from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 13th. DA Davidson reaffirmed a “buy” rating and set a $330.00 price objective on shares of Modine Manufacturing in a report on Monday, June 22nd. Glj Research reaffirmed a “buy” rating and set a $428.00 price objective on shares of Modine Manufacturing in a report on Monday, June 1st. B. Riley Financial lifted their price objective on shares of Modine Manufacturing from $250.00 to $264.00 and gave the company a “buy” rating in a research report on Tuesday, May 26th. Finally, Oppenheimer boosted their target price on shares of Modine Manufacturing from $271.00 to $325.00 and gave the stock an “outperform” rating in a report on Thursday, May 28th. Seven research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $327.14.

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.