Global Retirement Partners LLC Purchases Shares of 7,316 Modine Manufacturing Company $MOD

Key Points

• Global Retirement Partners purchased 7,316 shares of Modine Manufacturing worth approximately $1.95 million, while institutional investors and hedge funds collectively own 95.23% of the company.
• Analysts maintain a generally positive outlook, with seven Buy ratings and two Holds; the stock has a consensus “Moderate Buy” rating and a $320.14 price target.
• Modine reported quarterly EPS of $1.53, exceeding estimates of $1.27, while revenue rose 28% year over year to $874.1 million, narrowly below expectations.

Global Retirement Partners LLC bought a new stake in Modine Manufacturing Company (NYSE:MOD - Free Report) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 7,316 shares of the auto parts company's stock, valued at approximately $1,954,000.

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

Insider Activity

In related news, Director Eric D. Ashleman sold 15,000 shares of the business's stock in a transaction dated 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 owned 42,350 shares of the company's stock, valued at approximately $12,219,669. The trade was a 26.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Eric S. Mcginnis sold 1,020 shares of the company's stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $295.06, for a total transaction of $300,961.20. Following the transaction, the insider owned 28,364 shares in the company, valued at $8,369,081.84. The trade was a 3.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 54,302 shares of company stock worth $15,928,759 in the last 90 days. 1.92% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. KeyCorp reduced their target price on shares of Modine Manufacturing from $370.00 to $280.00 and set an "overweight" rating for the company in a 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. Oppenheimer lifted their target price on Modine Manufacturing from $271.00 to $325.00 and gave the company an "outperform" rating in a research note on Thursday, May 28th. Wall Street Zen lowered Modine Manufacturing from a "buy" rating to a "hold" rating in a report on Saturday, July 25th. Finally, Glj Research restated a "buy" rating and set a $428.00 price target on shares of Modine Manufacturing in a research note on Monday, June 1st. Seven analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $320.14.

Modine Manufacturing Stock Up 0.1%

Modine Manufacturing stock opened at $209.67 on Monday. 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 company has a market cap of $11.14 billion, a PE ratio of 78.82, a price-to-earnings-growth ratio of 0.68 and a beta of 1.71. The stock's 50 day moving average price is $239.57 and its 200 day moving average price is $235.26.

Modine Manufacturing (NYSE:MOD - Get Free Report) last released its quarterly earnings data on Tuesday, July 28th. The auto parts company reported $1.53 earnings per share (EPS) 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 during the quarter, compared to analysts' expectations of $878.69 million. During the same quarter in the prior year, the business posted $0.95 earnings per share. Modine Manufacturing's revenue was up 28.0% compared to the same quarter last year. On average, sell-side analysts predict that Modine Manufacturing Company will post 7.65 EPS for the current fiscal year.

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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