Flputnam Investment Management Co. Makes New Investment in Modine Manufacturing Company $MOD

Flputnam Investment Management Co. acquired a new position in Modine Manufacturing Company (NYSE:MOD) in the 2nd quarter, Holdings Channel reports. The firm acquired 13,133 shares of the auto parts company’s stock, valued at approximately $3,507,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Global Retirement Partners LLC purchased a new stake in shares of Modine Manufacturing in the second quarter worth about $1,954,000. Bank of New York Mellon Corp acquired a new stake in Modine Manufacturing in the second quarter valued at approximately $50,089,000. State of Wyoming acquired a new stake in Modine Manufacturing in the second quarter valued at approximately $668,000. GSA Capital Partners LLP purchased a new stake in shares of Modine Manufacturing during the second quarter valued at approximately $356,000. Finally, Tema ETFs LLC lifted its position in shares of Modine Manufacturing by 15.5% during the second quarter. Tema ETFs LLC now owns 113,679 shares of the auto parts company’s stock worth $30,355,000 after purchasing an additional 15,227 shares in the last quarter. Institutional investors and hedge funds own 95.23% of the company’s stock.

Insider Buying and Selling at Modine Manufacturing

In other Modine Manufacturing news, Director Eric D. Ashleman sold 15,000 shares of the company’s 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 transaction, the director directly owned 42,350 shares of the company’s stock, valued at $12,219,669. This represents a 26.16% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Brian Jon Agen sold 38,282 shares of the company’s 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 sale, the vice president owned 66,343 shares of the company’s stock, valued at approximately $19,582,463.31. This trade represents a 36.59% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 54,302 shares of company stock valued at $15,928,759 in the last 90 days. 1.92% of the stock is currently owned by corporate insiders.

Modine Manufacturing Stock Up 0.1%

MOD opened at $209.67 on Monday. The stock’s 50 day moving average price is $239.57 and its 200 day moving average price is $235.26. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.04 and a quick ratio of 1.22. The stock has a market cap of $11.14 billion, a P/E ratio of 78.82, a P/E/G ratio of 0.68 and a beta of 1.71. Modine Manufacturing Company has a 12 month low of $111.18 and a 12 month high of $323.25.

Modine Manufacturing (NYSE:MOD) last issued its quarterly earnings results on Tuesday, July 28th. The auto parts company reported $1.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.27 by $0.26. The firm had revenue of $874.10 million during the quarter, compared to analyst estimates of $878.69 million. Modine Manufacturing had a return on equity of 25.59% and a net margin of 4.28%.The firm’s quarterly revenue was up 28.0% on a year-over-year basis. During the same period last year, the company posted $0.95 EPS. As a group, research analysts predict that Modine Manufacturing Company will post 7.65 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Oppenheimer boosted their price target on Modine Manufacturing from $271.00 to $325.00 and gave the stock an “outperform” rating in a research note on Thursday, May 28th. Weiss Ratings upgraded Modine Manufacturing from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, May 28th. KeyCorp cut their target price on Modine Manufacturing from $370.00 to $280.00 and set an “overweight” rating on the stock in a research report on Thursday, July 30th. B. Riley Financial reiterated a “buy” rating and set a $305.00 target price (down from $340.00) on shares of Modine Manufacturing in a research note on Thursday, July 30th. Finally, UBS Group lifted their price target on shares of Modine Manufacturing to $310.00 and gave the stock a “buy” rating in a research note on Wednesday, May 27th. Seven research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. 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 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.