Himension Capital Singapore PTE. LTD. Takes Position in Modine Manufacturing Company $MOD

Himension Capital Singapore PTE. LTD. acquired a new stake in shares of Modine Manufacturing Company (NYSE:MOD) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 8,467 shares of the auto parts company’s stock, valued at approximately $1,835,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. lifted its position in Modine Manufacturing by 6.1% in the first quarter. PNC Financial Services Group Inc. now owns 1,780 shares of the auto parts company’s stock worth $386,000 after purchasing an additional 103 shares during the period. DUTCH ASSET Corp boosted its stake in Modine Manufacturing by 122.2% during the 1st quarter. DUTCH ASSET Corp now owns 18,709 shares of the auto parts company’s stock valued at $4,055,000 after purchasing an additional 10,290 shares in the last quarter. Meeder Advisory Services Inc. bought a new position in Modine Manufacturing during the 1st quarter valued at $200,000. Swiss National Bank increased its position in shares of Modine Manufacturing by 0.5% during the 1st quarter. Swiss National Bank now owns 98,900 shares of the auto parts company’s stock valued at $21,433,000 after purchasing an additional 500 shares during the period. Finally, Mediolanum International Funds Ltd acquired a new position in shares of Modine Manufacturing during the 1st quarter valued at $24,576,000. Institutional investors own 95.23% of the company’s stock.

Modine Manufacturing Price Performance

NYSE MOD opened at $246.52 on Wednesday. Modine Manufacturing Company has a 1 year low of $90.41 and a 1 year high of $323.25. The business’s fifty day moving average is $264.13 and its two-hundred day moving average is $225.93. The stock has a market capitalization of $13.09 billion, a P/E ratio of 110.05, a P/E/G ratio of 0.74 and a beta of 1.67. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.25 and a current ratio of 1.94.

Modine Manufacturing (NYSE:MOD) last released its quarterly earnings data 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. The business had revenue of $954.40 million during the quarter, compared to analyst estimates of $920.67 million. Modine Manufacturing had a return on equity of 24.39% and a net margin of 3.82%.The company’s revenue was up 47.5% compared to the same quarter last year. During the same period last year, the company posted $1.12 EPS. On average, research analysts forecast that Modine Manufacturing Company will post 7.72 earnings per share for the current fiscal year.

Analysts Set New Price Targets

MOD has been the topic of a number of research reports. Zacks Research downgraded Modine Manufacturing from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 13th. Oppenheimer raised their target price on Modine Manufacturing from $271.00 to $325.00 and gave the company an “outperform” rating in a research note on Thursday, May 28th. Wall Street Zen raised Modine Manufacturing from a “hold” rating to a “buy” rating in a report on Saturday, May 30th. KeyCorp boosted their price target on shares of Modine Manufacturing from $250.00 to $370.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 27th. Finally, Glj Research reissued a “buy” rating and issued a $428.00 price target on shares of Modine Manufacturing in a report on Monday, June 1st. Seven equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $327.14.

Insider Activity

In related news, VP Brian Jon Agen sold 38,282 shares of the stock in a transaction on 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 owned 66,343 shares in the company, valued at $19,582,463.31. This trade represents a 36.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Eric S. Mcginnis sold 1,020 shares of the stock in a transaction 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 completion of the transaction, the insider owned 28,364 shares of the company’s stock, valued at $8,369,081.84. This trade represents a 3.47% decrease in their position. 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 over the last three months. Insiders own 1.92% of the company’s stock.

About Modine Manufacturing

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.