DUTCH ASSET Corp Acquires 10,290 Shares of Modine Manufacturing Company $MOD

Key Points

• DUTCH ASSET Corp more than doubled its stake in Modine Manufacturing during the first quarter, buying 10,290 additional shares and lifting its holdings to 18,709 shares worth about $4.1 million.
• Modine reported better-than-expected quarterly results, with EPS of $1.71 versus $1.51 expected and revenue of $954.4 million, up 47.5% year over year.
• Despite the strong earnings and bullish analyst sentiment, some insider selling occurred recently, including large sales by VP Brian Jon Agen and insider Eric S. Mcginnis, while analysts still rate the stock a Moderate Buy with a consensus target of $327.14.

DUTCH ASSET Corp boosted its stake in shares of Modine Manufacturing Company (NYSE:MOD - Free Report) by 122.2% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 18,709 shares of the auto parts company's stock after buying an additional 10,290 shares during the period. Modine Manufacturing makes up approximately 2.7% of DUTCH ASSET Corp's holdings, making the stock its 11th biggest holding. DUTCH ASSET Corp's holdings in Modine Manufacturing were worth $4,055,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. V Square Quantitative Management LLC acquired a new position in shares of Modine Manufacturing in the first quarter valued at approximately $25,000. Kemnay Advisory Services Inc. acquired a new stake in shares of Modine Manufacturing during the fourth quarter worth $25,000. Spire Wealth Management acquired a new stake in shares of Modine Manufacturing during the fourth quarter worth $27,000. Sunbelt Securities Inc. bought a new stake in Modine Manufacturing in the 3rd quarter valued at $39,000. Finally, Danske Bank A S bought a new stake in Modine Manufacturing in the 3rd quarter valued at $43,000. Institutional investors own 95.23% of the company's stock.

Modine Manufacturing Stock Down 0.7%

Shares of MOD stock opened at $227.80 on Tuesday. The company has a current ratio of 1.94, a quick ratio of 1.25 and a debt-to-equity ratio of 0.32. Modine Manufacturing Company has a 1 year low of $90.41 and a 1 year high of $323.25. The firm's fifty day moving average price is $264.74 and its two-hundred day moving average price is $225.13. The firm has a market capitalization of $12.10 billion, a P/E ratio of 101.70, a PEG ratio of 0.74 and a beta of 1.67.

Modine Manufacturing (NYSE:MOD - Get Free Report) last posted its quarterly earnings data on Tuesday, May 26th. The auto parts company reported $1.71 EPS for the quarter, topping analysts' consensus estimates of $1.51 by $0.20. The company had revenue of $954.40 million during the quarter, compared to the consensus estimate of $920.67 million. Modine Manufacturing had a net margin of 3.82% and a return on equity of 24.39%. The company's quarterly revenue was up 47.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.12 EPS. On average, equities analysts predict that Modine Manufacturing Company will post 7.72 EPS for the current fiscal year.

Insider Activity at Modine Manufacturing

In other Modine Manufacturing news, insider Eric S. Mcginnis sold 1,020 shares of the firm's stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $295.06, for a total value of $300,961.20. Following the completion of the transaction, the insider directly owned 28,364 shares in the company, valued at $8,369,081.84. This trade represents a 3.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Brian Jon Agen sold 38,282 shares of the business's stock in a transaction that occurred 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 transaction, 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 position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 54,302 shares of company stock valued at $15,928,759. Insiders own 1.92% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on MOD. DA Davidson reiterated a "buy" rating and set a $330.00 target price on shares of Modine Manufacturing in a report on Monday, June 22nd. Oppenheimer boosted their price target on Modine Manufacturing from $271.00 to $325.00 and gave the company an "outperform" rating in a report on Thursday, May 28th. Glj Research reaffirmed a "buy" rating and set a $428.00 price objective on shares of Modine Manufacturing in a research report on Monday, June 1st. Wall Street Zen upgraded Modine Manufacturing from a "hold" rating to a "buy" rating in a report on Saturday, May 30th. Finally, Zacks Research lowered Modine Manufacturing from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 13th. Seven analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, Modine Manufacturing has a consensus rating of "Moderate Buy" and a consensus target price of $327.14.

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.

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