Callan Family Office LLC Takes $2.92 Million Position in Modine Manufacturing Company $MOD

Callan Family Office LLC purchased a new position in Modine Manufacturing Company (NYSE:MOD - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 10,937 shares of the auto parts company's stock, valued at approximately $2,920,000.

Other hedge funds have also recently made changes to their positions in the company. Lazard Asset Management LLC purchased a new stake in shares of Modine Manufacturing during the first quarter valued at about $1,722,000. Ranger Investment Management L.P. bought a new stake in shares of Modine Manufacturing in the 1st quarter valued at about $15,557,000. Allspring Global Investments Holdings LLC grew its position in shares of Modine Manufacturing by 253.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 306,005 shares of the auto parts company's stock worth $68,230,000 after buying an additional 219,373 shares during the last quarter. DUTCH ASSET Corp grew its position in shares of Modine Manufacturing by 122.2% in the 1st quarter. DUTCH ASSET Corp now owns 18,709 shares of the auto parts company's stock worth $4,055,000 after buying an additional 10,290 shares during the last quarter. Finally, Lisanti Capital Growth LLC bought a new position in shares of Modine Manufacturing during the 2nd quarter worth approximately $6,402,000. 95.23% of the stock is currently owned by hedge funds and other institutional investors.

Modine Manufacturing Stock Performance

Shares of Modine Manufacturing stock opened at $198.03 on Friday. The firm has a market capitalization of $10.52 billion, a P/E ratio of 74.45, a PEG ratio of 0.65 and a beta of 1.71. The company has a quick ratio of 1.22, a current ratio of 2.04 and a debt-to-equity ratio of 0.39. The company has a 50 day moving average price of $232.44 and a 200 day moving average price of $236.03. Modine Manufacturing Company has a 52 week low of $111.18 and a 52 week high of $323.25.

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

Analysts Set New Price Targets

A number of equities research analysts recently commented on MOD shares. Glj Research reissued a "buy" rating and set a $428.00 target price on shares of Modine Manufacturing in a research report on Monday, June 1st. DA Davidson reaffirmed a "buy" rating and issued a $330.00 price target on shares of Modine Manufacturing in a report on Monday, June 22nd. Wall Street Zen downgraded Modine Manufacturing from a "buy" rating to a "hold" rating in a research report on Saturday, July 25th. Weiss Ratings upgraded Modine Manufacturing from a "hold (c-)" rating to a "hold (c)" rating in a report on Thursday, May 28th. Finally, UBS Group raised their price objective on Modine Manufacturing to $310.00 and gave the stock a "buy" rating in a research report on Wednesday, May 27th. Seven investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $320.14.

Insider Transactions at Modine Manufacturing

In other news, VP Brian Jon Agen sold 38,282 shares of Modine Manufacturing 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 completion of the sale, the vice president directly 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Eric D. Ashleman sold 15,000 shares of the business's stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $288.54, for a total transaction of $4,328,100.00. Following the sale, the director directly owned 42,350 shares in the company, valued at $12,219,669. This trade represents a 26.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 54,302 shares of company stock worth $15,928,759. Company 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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