Empowered Funds LLC Invests $35.38 Million in Modine Manufacturing Company $MOD

Empowered Funds LLC purchased a new stake in Modine Manufacturing Company (NYSE:MOD) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 132,490 shares of the auto parts company’s stock, valued at approximately $35,377,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC bought a new position in Modine Manufacturing during the first quarter valued at about $25,000. Rakuten Securities Inc. acquired a new stake in shares of Modine Manufacturing in the second quarter valued at about $40,000. PenderFund Capital Management Ltd. acquired a new position in shares of Modine Manufacturing during the 2nd quarter worth about $42,000. Kemnay Advisory Services Inc. bought a new stake in Modine Manufacturing during the 4th quarter valued at approximately $25,000. Finally, Vega Investment Solutions bought a new position in Modine Manufacturing in the 2nd quarter worth approximately $52,000. Institutional investors own 95.23% of the company’s stock.

Modine Manufacturing Stock Down 0.1%

Shares of NYSE MOD opened at $187.03 on Friday. The business has a fifty day moving average of $224.41 and a two-hundred day moving average of $235.83. 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. The stock has a market cap of $9.93 billion, a PE ratio of 70.31, a PEG ratio of 0.61 and a beta of 1.71.

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

Analyst Ratings Changes

Several equities research analysts have recently weighed in on MOD shares. Wall Street Zen cut Modine Manufacturing from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. Glj Research restated a “buy” rating and set a $428.00 price objective on shares of Modine Manufacturing in a report on Monday, June 1st. DA Davidson reaffirmed a “buy” rating and issued a $330.00 price target on shares of Modine Manufacturing in a report on Monday, June 22nd. UBS Group lifted their price objective on Modine Manufacturing to $310.00 and gave the stock a “buy” rating in a report on Wednesday, May 27th. Finally, B. Riley Financial restated a “buy” rating and issued a $305.00 target price (down from $340.00) on shares of Modine Manufacturing in a research note on Thursday, July 30th. Seven equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, Modine Manufacturing presently has an average rating of “Moderate Buy” and a consensus price target of $320.14.

Insider Activity at Modine Manufacturing

In other Modine Manufacturing news, Director Eric D. Ashleman sold 15,000 shares of the stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $288.54, for a total value of $4,328,100.00. Following the transaction, the director directly owned 42,350 shares in the company, valued at approximately $12,219,669. This trade represents a 26.16% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Eric S. Mcginnis sold 1,020 shares of the business’s stock in a transaction 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 sale, the insider owned 28,364 shares of the company’s stock, valued at approximately $8,369,081.84. The trade was a 3.47% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 54,302 shares of company stock valued at $15,928,759 over the last ninety days. 1.92% of the stock is owned by 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.