Assenagon Asset Management S.A. Invests $9.75 Million in Modine Manufacturing Company $MOD

Assenagon Asset Management S.A. acquired a new stake in Modine Manufacturing Company (NYSE:MOD) during the first quarter, Holdings Channel.com reports. The firm acquired 45,005 shares of the auto parts company’s stock, valued at approximately $9,753,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Kemnay Advisory Services Inc. acquired a new stake in shares of Modine Manufacturing during the 4th quarter worth approximately $25,000. Spire Wealth Management acquired a new position in shares of Modine Manufacturing during the fourth quarter valued at about $27,000. Sunbelt Securities Inc. acquired a new position in shares of Modine Manufacturing during the third quarter valued at about $39,000. Danske Bank A S bought a new position in shares of Modine Manufacturing during the 3rd quarter worth about $43,000. Finally, Root Financial Partners LLC boosted its position in shares of Modine Manufacturing by 140.5% during the 4th 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.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. KeyCorp boosted their target price on Modine Manufacturing from $250.00 to $370.00 and gave the company an “overweight” rating in a research report on Wednesday, May 27th. Glj Research reiterated a “buy” rating and issued a $428.00 price target on shares of Modine Manufacturing in a report on Monday, June 1st. Zacks Research cut Modine Manufacturing from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 13th. Wall Street Zen upgraded Modine Manufacturing from a “hold” rating to a “buy” rating in a report on Saturday, May 30th. Finally, UBS Group boosted their price objective on Modine Manufacturing to $310.00 and gave the company a “buy” rating in a report on Wednesday, May 27th. Seven equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $327.14.

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 directly owned 28,364 shares of the company’s stock, valued at $8,369,081.84. This represents a 3.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Eric D. Ashleman sold 15,000 shares of the firm’s stock in a transaction that occurred on 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 owned 42,350 shares in the company, valued at $12,219,669. This represents a 26.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 54,302 shares of company stock valued at $15,928,759. Corporate insiders own 2.48% of the company’s stock.

Modine Manufacturing Trading Down 0.1%

NYSE:MOD opened at $255.80 on Monday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.94 and a quick ratio of 1.25. The firm has a 50-day moving average of $270.27 and a 200-day moving average of $214.28. The company has a market cap of $13.51 billion, a PE ratio of 114.20, a PEG ratio of 0.83 and a beta of 1.65. Modine Manufacturing Company has a one year low of $86.48 and a one year high of $323.25.

Modine Manufacturing (NYSE:MOD) last posted its earnings results on Tuesday, May 26th. The auto parts company reported $1.71 earnings per share for the quarter, topping analysts’ consensus estimates of $1.51 by $0.20. Modine Manufacturing had a net margin of 3.82% and a return on equity of 24.39%. The company 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 business posted $1.12 EPS. The firm’s revenue was up 47.5% compared to the same quarter last year. As a group, equities research analysts expect that Modine Manufacturing Company will post 7.73 EPS for the current fiscal 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.