B. Metzler seel. Sohn & Co. AG Invests $16.39 Million in Modine Manufacturing Company $MOD

Key Points

• B. Metzler seel. Sohn & Co. AG purchased 61,386 Modine Manufacturing shares worth approximately $16.39 million, acquiring a roughly 0.12% stake. Other funds also initiated positions, and institutional investors collectively own 95.23% of the company.
• Modine reported quarterly EPS of $1.53, beating estimates of $1.27, while revenue rose 28% year over year to $874.1 million. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $320.14.
• Company insiders sold 54,302 shares worth approximately $15.93 million over the past 90 days. The stock opened at $190.15, well below its 52-week high of $323.25.

B. Metzler seel. Sohn & Co. AG purchased a new stake in Modine Manufacturing Company (NYSE:MOD - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 61,386 shares of the auto parts company's stock, valued at approximately $16,391,000. B. Metzler seel. Sohn & Co. AG owned approximately 0.12% of Modine Manufacturing as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in MOD. Silvant Capital Management LLC purchased a new stake in Modine Manufacturing in the second quarter worth about $6,323,000. Vise Technologies Inc. bought a new stake in Modine Manufacturing during the 2nd quarter valued at approximately $946,000. Edmond DE Rothschild Holding S.A. purchased a new position in shares of Modine Manufacturing during the 2nd quarter worth approximately $3,250,000. Geneva Partners LLC bought a new position in shares of Modine Manufacturing in the 2nd quarter worth approximately $11,258,000. Finally, Lisanti Capital Growth LLC bought a new position in shares of Modine Manufacturing in the 2nd quarter worth approximately $6,402,000. 95.23% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, VP Brian Jon Agen sold 38,282 shares of the business's stock in a transaction on Thursday, June 18th. The shares were 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 in the company, valued at approximately $19,582,463.31. The trade was a 36.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Eric D. Ashleman sold 15,000 shares of the company's stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $288.54, for a total value of $4,328,100.00. Following the sale, the director owned 42,350 shares in the company, valued at approximately $12,219,669. This trade represents a 26.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 54,302 shares of company stock worth $15,928,759. Company insiders own 1.92% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. DA Davidson reaffirmed a "buy" rating and issued a $330.00 price target on shares of Modine Manufacturing in a research note on Monday, June 22nd. B. Riley Financial restated a "buy" rating and set a $305.00 target price (down from $340.00) on shares of Modine Manufacturing in a report on Thursday, July 30th. Wall Street Zen lowered shares of Modine Manufacturing from a "buy" rating to a "hold" rating in a research note on Saturday, July 25th. KeyCorp lowered their price target on shares of Modine Manufacturing from $370.00 to $280.00 and set an "overweight" rating for the company in a research report on Thursday, July 30th. Finally, UBS Group upped their price objective on shares of Modine Manufacturing to $310.00 and gave the stock a "buy" rating in a report on Wednesday, May 27th. Seven research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, Modine Manufacturing currently has a consensus rating of "Moderate Buy" and a consensus price target of $320.14.

Modine Manufacturing Trading Down 2.6%

Shares of NYSE:MOD opened at $190.15 on Friday. Modine Manufacturing Company has a 1 year low of $111.18 and a 1 year high of $323.25. The stock's fifty day moving average price is $233.94 and its 200-day moving average price is $236.29. 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 company has a market cap of $10.10 billion, a P/E ratio of 71.48, a PEG ratio of 0.64 and a beta of 1.71.

Modine Manufacturing (NYSE:MOD - Get Free Report) last posted its earnings results on Tuesday, July 28th. 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 business had revenue of $874.10 million for the quarter, compared to analysts' expectations of $878.69 million. Modine Manufacturing had a net margin of 4.28% and a return on equity of 25.59%. The business's revenue for the quarter was up 28.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.95 EPS. Sell-side analysts expect that Modine Manufacturing Company will post 7.65 earnings per share for the current 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.

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