Empowered Funds LLC Grows Stake in Modine Manufacturing Company $MOD

Empowered Funds LLC raised its holdings in Modine Manufacturing Company (NYSE:MOD) by 2.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 132,496 shares of the auto parts company’s stock after buying an additional 2,976 shares during the quarter. Empowered Funds LLC’s holdings in Modine Manufacturing were worth $28,713,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in MOD. V Square Quantitative Management LLC bought a new position in shares of Modine Manufacturing during the first quarter valued at approximately $25,000. Kemnay Advisory Services Inc. bought a new stake in Modine Manufacturing in the fourth quarter valued at $25,000. Spire Wealth Management bought a new stake in Modine Manufacturing in the fourth quarter valued at $27,000. Sunbelt Securities Inc. purchased a new position in Modine Manufacturing during the 3rd quarter valued at $39,000. Finally, Danske Bank A S purchased a new position in Modine Manufacturing during the 3rd quarter valued at $43,000. 95.23% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Modine Manufacturing

In other news, Director Eric D. Ashleman sold 15,000 shares of Modine Manufacturing stock in a transaction dated 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 completion of the transaction, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Brian Jon Agen sold 38,282 shares of Modine Manufacturing stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $295.17, for a total value 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 approximately $19,582,463.31. This represents a 36.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 54,302 shares of company stock valued at $15,928,759. Insiders own 1.92% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Weiss Ratings upgraded shares of Modine Manufacturing from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, May 28th. B. Riley Financial lifted their target price on shares of Modine Manufacturing from $250.00 to $264.00 and gave the company a “buy” rating in a research note on Tuesday, May 26th. Oppenheimer boosted their price target on shares of Modine Manufacturing from $271.00 to $325.00 and gave the company an “outperform” rating in a research report on Thursday, May 28th. Zacks Research downgraded shares of Modine Manufacturing from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 13th. Finally, Glj Research restated a “buy” rating and issued a $428.00 price objective on shares of Modine Manufacturing in a report on Monday, June 1st. Seven analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $327.14.

Modine Manufacturing Price Performance

MOD stock opened at $230.63 on Tuesday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.25 and a current ratio of 1.94. The firm has a 50 day moving average price of $261.74 and a 200-day moving average price of $228.94. Modine Manufacturing Company has a 52-week low of $102.93 and a 52-week high of $323.25. The firm has a market capitalization of $12.25 billion, a price-to-earnings ratio of 102.96, a PEG ratio of 0.78 and a beta of 1.67.

Modine Manufacturing (NYSE:MOD) last posted its quarterly earnings results on Tuesday, May 26th. The auto parts company reported $1.71 earnings per share 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 company had revenue of $954.40 million for the quarter, compared to the consensus estimate of $920.67 million. During the same quarter in the prior year, the business posted $1.12 EPS. The firm’s quarterly revenue was up 47.5% compared to the same quarter last year. Equities research analysts forecast that Modine Manufacturing Company will post 7.72 EPS for the current fiscal year.

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.