111,261 Shares in Modine Manufacturing Company $MOD Bought by Nicholas Investment Partners LP

Nicholas Investment Partners LP bought a new stake in Modine Manufacturing Company (NYSE:MOD) during the second quarter, according to its most recent filing with the SEC. The firm bought 111,261 shares of the auto parts company’s stock, valued at approximately $29,709,000. Modine Manufacturing comprises 1.7% of Nicholas Investment Partners LP’s holdings, making the stock its 5th biggest holding.

Several other institutional investors have also recently bought and sold shares of MOD. V Square Quantitative Management LLC acquired a new position in Modine Manufacturing during the 1st quarter worth $25,000. Kemnay Advisory Services Inc. acquired a new stake in shares of Modine Manufacturing in the fourth quarter valued at about $25,000. Sunbelt Securities Inc. acquired a new stake in shares of Modine Manufacturing in the third quarter valued at about $39,000. Rakuten Securities Inc. bought a new position in shares of Modine Manufacturing in the second quarter worth about $40,000. Finally, Danske Bank A S bought a new position in shares of Modine Manufacturing in the third quarter worth about $43,000. Institutional investors own 95.23% of the company’s stock.

Insider Buying and Selling at Modine Manufacturing

In other news, Director Eric D. Ashleman sold 15,000 shares of Modine Manufacturing 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 approximately $12,219,669. This trade represents a 26.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Eric S. Mcginnis sold 1,020 shares of the business’s stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $295.06, for a total value of $300,961.20. Following the sale, the insider owned 28,364 shares in the company, valued at approximately $8,369,081.84. This represents a 3.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 54,302 shares of company stock valued at $15,928,759 in the last quarter. Corporate insiders own 1.92% of the company’s stock.

Modine Manufacturing Stock Down 4.7%

Shares of MOD opened at $188.48 on Tuesday. The company has a 50-day simple moving average of $230.48 and a 200-day simple moving average of $236.23. The firm has a market capitalization of $10.01 billion, a P/E ratio of 70.86, a P/E/G ratio of 0.65 and a beta of 1.71. 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 52 week low of $111.18 and a 52 week high of $323.25.

Modine Manufacturing (NYSE:MOD) last released its earnings results 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 business had revenue of $874.10 million during the quarter, compared to analysts’ expectations of $878.69 million. During the same quarter last year, the company earned $0.95 earnings per share. The firm’s revenue was up 28.0% on a year-over-year basis. On average, equities research analysts expect that Modine Manufacturing Company will post 7.65 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on MOD. KeyCorp decreased their target price on Modine Manufacturing from $370.00 to $280.00 and set an “overweight” rating for the company in a research note on Thursday, July 30th. B. Riley Financial reaffirmed a “buy” rating and issued a $305.00 price target (down from $340.00) on shares of Modine Manufacturing in a research report on Thursday, July 30th. UBS Group upped their price target on Modine Manufacturing to $310.00 and gave the stock a “buy” rating in a report on Wednesday, May 27th. Wall Street Zen lowered Modine Manufacturing from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. Finally, Weiss Ratings raised Modine Manufacturing from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, May 28th. Seven analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $320.14.

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.