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

Key Points

• Flputnam Investment Management acquired 13,133 shares of Modine Manufacturing worth approximately $3.5 million in the second quarter. Institutional investors collectively own 95.23% of the company.
• Analyst sentiment remains positive, with seven Buy ratings and two Hold ratings producing a “Moderate Buy” consensus and an average price target of $320.14.
• 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. However, insiders sold 54,302 shares worth roughly $15.9 million during the quarter.

Flputnam Investment Management Co. acquired a new stake in Modine Manufacturing Company (NYSE:MOD - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 13,133 shares of the auto parts company's stock, valued at approximately $3,507,000.

Several other hedge funds have also made changes to their positions in the business. V Square Quantitative Management LLC acquired a new position in Modine Manufacturing in the 1st quarter valued at about $25,000. Kemnay Advisory Services Inc. purchased a new stake in shares of Modine Manufacturing during the fourth quarter worth approximately $25,000. Sunbelt Securities Inc. acquired a new stake in shares of Modine Manufacturing during the third quarter worth $39,000. Danske Bank A S purchased a new position in Modine Manufacturing in the 3rd quarter valued at $43,000. Finally, Root Financial Partners LLC grew its position in Modine Manufacturing by 140.5% in the 4th quarter. Root Financial Partners LLC now owns 368 shares of the auto parts company's stock valued at $49,000 after buying an additional 215 shares during the last quarter. Institutional investors and hedge funds own 95.23% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Glj Research reissued a "buy" rating and issued a $428.00 price target on shares of Modine Manufacturing in a report on Monday, June 1st. Oppenheimer increased their target price on shares of Modine Manufacturing from $271.00 to $325.00 and gave the company an "outperform" rating in a report on Thursday, May 28th. Wall Street Zen downgraded shares of Modine Manufacturing from a "buy" rating to a "hold" rating in a research report on Saturday, July 25th. DA Davidson restated a "buy" rating and issued a $330.00 price target on shares of Modine Manufacturing in a report on Monday, June 22nd. Finally, Weiss Ratings raised Modine Manufacturing from a "hold (c-)" rating to a "hold (c)" rating in a report on Thursday, May 28th. 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.com, Modine Manufacturing currently has a consensus rating of "Moderate Buy" and an average target price of $320.14.

Modine Manufacturing Stock Up 0.1%

MOD stock opened at $209.67 on Monday. The company has a 50 day moving average price of $239.57 and a two-hundred day moving average price of $235.26. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.22 and a current ratio of 2.04. The stock has a market capitalization of $11.14 billion, a P/E ratio of 78.82, a PEG ratio of 0.68 and a beta of 1.71. Modine Manufacturing Company has a one year low of $111.18 and a one year high of $323.25.

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

Insider Buying and Selling

In other Modine Manufacturing news, Director Eric D. Ashleman sold 15,000 shares of Modine Manufacturing stock in a transaction 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 transaction, the director owned 42,350 shares in the company, valued at $12,219,669. This trade represents a 26.16% decrease in their position. The sale 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 Modine Manufacturing 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 completion of the transaction, the vice president owned 66,343 shares in the company, valued at $19,582,463.31. The trade was 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 quarter, insiders sold 54,302 shares of company stock valued at $15,928,759. Insiders own 1.92% of the company's stock.

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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