Sone Capital Management LLC Makes New Investment in Modine Manufacturing Company $MOD

Sone Capital Management LLC purchased a new stake in Modine Manufacturing Company (NYSE:MOD) during the 2nd quarter, Holdings Channel reports. The firm purchased 18,301 shares of the auto parts company’s stock, valued at approximately $4,887,000.

A number of other hedge funds also recently made changes to their positions in the business. V Square Quantitative Management LLC acquired a new position in shares of Modine Manufacturing during the first quarter worth approximately $25,000. Kemnay Advisory Services Inc. acquired a new stake in Modine Manufacturing in the 4th quarter valued at approximately $25,000. Sunbelt Securities Inc. bought a new stake in Modine Manufacturing during the 3rd quarter valued at $39,000. Rakuten Securities Inc. bought a new stake in Modine Manufacturing during the 2nd quarter valued at $40,000. Finally, Danske Bank A S acquired a new position in Modine Manufacturing during the 3rd quarter worth $43,000. Institutional investors own 95.23% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. B. Riley Financial reissued a “buy” rating and issued a $305.00 price target (down from $340.00) on shares of Modine Manufacturing in a research note on Thursday, July 30th. Oppenheimer increased their price objective on shares of Modine Manufacturing from $271.00 to $325.00 and gave the company an “outperform” rating in a report on Thursday, May 28th. Wall Street Zen lowered shares of Modine Manufacturing from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. UBS Group boosted their target price on Modine Manufacturing to $310.00 and gave the stock a “buy” rating in a report on Wednesday, May 27th. Finally, KeyCorp cut their target price on Modine Manufacturing from $370.00 to $280.00 and set an “overweight” rating for the company in a research report on Thursday, July 30th. Seven research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $320.14.

Modine Manufacturing Price Performance

Shares of Modine Manufacturing stock opened at $188.48 on Tuesday. Modine Manufacturing Company has a 52 week low of $111.18 and a 52 week high of $323.25. 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 cap of $10.01 billion, a PE ratio of 70.86, a price-to-earnings-growth ratio of 0.65 and a beta of 1.71. The company’s 50-day moving average price is $230.48 and its two-hundred day moving average price is $236.23.

Modine Manufacturing (NYSE:MOD) last posted its quarterly earnings data on Wednesday, July 29th. The auto parts company reported $1.53 earnings per share for the quarter, beating the consensus estimate of $1.27 by $0.26. Modine Manufacturing had a net margin of 4.28% and a return on equity of 25.59%. The company had revenue of $874.10 million during the quarter, compared to analyst estimates of $878.69 million. During the same quarter last year, the firm posted $0.95 EPS. The business’s revenue for the quarter was up 28.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Modine Manufacturing Company will post 7.65 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Eric S. Mcginnis sold 1,020 shares of the 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Eric D. Ashleman sold 15,000 shares of the firm’s 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 sale, the director owned 42,350 shares of the company’s stock, valued at $12,219,669. The trade was a 26.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 54,302 shares of company stock worth $15,928,759 in the last ninety days. 1.92% of the stock is currently owned by corporate 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.