Blue Whale Capital LLP Buys Shares of 463,437 Modine Manufacturing Company $MOD

Key Points

• Blue Whale Capital acquired 463,437 Modine Manufacturing shares worth approximately $123.7 million, making the stock 3.9% of its portfolio and its ninth-largest holding.
• Modine reported quarterly earnings of $1.53 per share, beating estimates of $1.27, while revenue rose 28% year over year to $874.1 million, slightly below forecasts.
• Analysts maintain a generally positive outlook, with seven Buy ratings and two Holds producing a “Moderate Buy” consensus and an average price target of $320.14, despite several recent target reductions.

Blue Whale Capital LLP purchased a new stake in Modine Manufacturing Company (NYSE:MOD - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 463,437 shares of the auto parts company's stock, valued at approximately $123,747,000. Modine Manufacturing makes up 3.9% of Blue Whale Capital LLP's investment portfolio, making the stock its 9th biggest holding. Blue Whale Capital LLP owned approximately 0.87% of Modine Manufacturing at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of MOD. V Square Quantitative Management LLC purchased a new position in Modine Manufacturing during the first quarter valued at approximately $25,000. Kemnay Advisory Services Inc. bought a new position in Modine Manufacturing in the fourth quarter worth approximately $25,000. Sunbelt Securities Inc. purchased a new stake in Modine Manufacturing during the third quarter worth $39,000. Rakuten Securities Inc. purchased a new stake in Modine Manufacturing during the second quarter worth $40,000. Finally, Danske Bank A S bought a new stake in Modine Manufacturing during the 3rd quarter valued at $43,000. Hedge funds and other institutional investors own 95.23% of the company's stock.

Modine Manufacturing Trading Up 0.2%

Shares of NYSE:MOD opened at $198.03 on Monday. The business's 50-day moving average is $232.44 and its 200 day moving average is $236.31. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.04 and a quick ratio of 1.22. Modine Manufacturing Company has a 1 year low of $111.18 and a 1 year high of $323.25. The firm has a market capitalization of $10.52 billion, a P/E ratio of 74.45, a P/E/G ratio of 0.65 and a beta of 1.71.

Modine Manufacturing (NYSE:MOD - Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The auto parts company reported $1.53 earnings per share for the quarter, topping analysts' consensus estimates of $1.27 by $0.26. Modine Manufacturing had a return on equity of 25.59% and a net margin of 4.28%.The business had revenue of $874.10 million for the quarter, compared to analyst estimates of $878.69 million. During the same quarter in the previous year, the firm earned $0.95 earnings per share. The company's revenue was up 28.0% on a year-over-year basis. On average, research analysts predict that Modine Manufacturing Company will post 7.65 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently commented on the company. KeyCorp reduced their price target on Modine Manufacturing from $370.00 to $280.00 and set an "overweight" rating for the company in a research report on Thursday, July 30th. DA Davidson reaffirmed a "buy" rating and set a $330.00 price objective on shares of Modine Manufacturing in a research report on Monday, June 22nd. Wall Street Zen lowered Modine Manufacturing from a "buy" rating to a "hold" rating in a research note on Saturday, July 25th. B. Riley Financial reiterated a "buy" rating and issued a $305.00 target price (down from $340.00) on shares of Modine Manufacturing in a report on Thursday, July 30th. Finally, Glj Research reissued a "buy" rating and set a $428.00 price target on shares of Modine Manufacturing in a research report on Monday, June 1st. Seven investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $320.14.

Insiders Place Their Bets

In other Modine Manufacturing news, insider Eric S. Mcginnis sold 1,020 shares of the firm's 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 approximately $8,369,081.84. This trade represents a 3.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, 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 transaction of $11,299,697.94. Following the sale, the vice president directly owned 66,343 shares in the company, valued at $19,582,463.31. This trade represents a 36.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 54,302 shares of company stock valued at $15,928,759. 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.

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