Aristides Capital LLC Has $829,000 Position in Modine Manufacturing Company $MOD

Aristides Capital LLC cut its stake in Modine Manufacturing Company (NYSE:MOD) by 43.8% in the first quarter, HoldingsChannel.com reports. The fund owned 3,826 shares of the auto parts company’s stock after selling 2,977 shares during the period. Aristides Capital LLC’s holdings in Modine Manufacturing were worth $829,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Wellington Management Group LLP grew its stake in Modine Manufacturing by 4.7% in the fourth quarter. Wellington Management Group LLP now owns 2,879,299 shares of the auto parts company’s stock valued at $384,415,000 after acquiring an additional 130,511 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of Modine Manufacturing by 31.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,333,174 shares of the auto parts company’s stock worth $311,503,000 after purchasing an additional 560,131 shares during the period. Wasatch Advisors LP raised its position in shares of Modine Manufacturing by 1.4% during the second quarter. Wasatch Advisors LP now owns 1,792,413 shares of the auto parts company’s stock worth $176,553,000 after purchasing an additional 23,955 shares during the period. Capital Research Global Investors lifted its holdings in shares of Modine Manufacturing by 13.8% during the 4th quarter. Capital Research Global Investors now owns 1,478,224 shares of the auto parts company’s stock valued at $197,358,000 after purchasing an additional 179,617 shares in the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of Modine Manufacturing by 120.4% during the 4th quarter. Invesco Ltd. now owns 1,318,529 shares of the auto parts company’s stock valued at $176,037,000 after purchasing an additional 720,389 shares in the last quarter. 95.23% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently issued reports on MOD. UBS Group increased their target price on Modine Manufacturing to $310.00 and gave the stock a “buy” rating in a research note on Wednesday, May 27th. Weiss Ratings raised shares of Modine Manufacturing from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, May 28th. KeyCorp upped their price target on shares of Modine Manufacturing from $250.00 to $370.00 and gave the company an “overweight” rating in a report on Wednesday, May 27th. DA Davidson reiterated a “buy” rating and issued a $330.00 price target on shares of Modine Manufacturing in a report on Monday, June 22nd. Finally, Oppenheimer increased their price objective on shares of Modine Manufacturing from $271.00 to $325.00 and gave the stock an “outperform” rating in a research report on Thursday, May 28th. Seven equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $327.14.

Modine Manufacturing Price Performance

Shares of NYSE MOD opened at $250.01 on Friday. The stock has a market capitalization of $13.28 billion, a price-to-earnings ratio of 111.61, a PEG ratio of 0.81 and a beta of 1.67. The business has a 50-day moving average of $262.68 and a 200-day moving average of $227.52. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.94 and a quick ratio of 1.25. Modine Manufacturing Company has a fifty-two week low of $96.45 and a fifty-two week high of $323.25.

Modine Manufacturing (NYSE:MOD) last released its earnings results on Tuesday, May 26th. The auto parts company reported $1.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.51 by $0.20. Modine Manufacturing had a return on equity of 24.39% and a net margin of 3.82%.The business had revenue of $954.40 million for the quarter, compared to analyst estimates of $920.67 million. During the same quarter in the prior year, the company posted $1.12 earnings per share. Modine Manufacturing’s revenue was up 47.5% on a year-over-year basis. As a group, sell-side analysts predict that Modine Manufacturing Company will post 7.72 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Eric S. Mcginnis sold 1,020 shares of the stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $295.06, for a total value of $300,961.20. Following the completion of the sale, the insider owned 28,364 shares of the company’s stock, valued at approximately $8,369,081.84. This represents a 3.47% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Brian Jon Agen sold 38,282 shares of the firm’s stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $295.17, for a total transaction of $11,299,697.94. Following the completion of the transaction, the vice president directly owned 66,343 shares of the company’s stock, valued at $19,582,463.31. This represents a 36.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 54,302 shares of company stock valued at $15,928,759 in the last 90 days. 1.92% of the stock is currently owned by insiders.

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.