Himension Capital Singapore PTE. LTD. Takes Position in Modine Manufacturing Company $MOD

Key Points

• Himension Capital Singapore disclosed a new first-quarter stake in Modine Manufacturing, buying 8,467 shares valued at about $1.835 million.
• Modine’s latest earnings beat expectations, with $1.71 EPS versus the $1.51 estimate and revenue of $954.4 million, up 47.5% year over year.
• Analysts remain broadly positive on the stock, with seven Buy ratings and an average target price of $327.14, even as some insiders recently sold shares.

Himension Capital Singapore PTE. LTD. purchased a new stake in Modine Manufacturing Company (NYSE:MOD - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The fund purchased 8,467 shares of the auto parts company's stock, valued at approximately $1,835,000.

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

Analyst Ratings Changes

Several analysts recently issued reports on the company. DA Davidson reissued a "buy" rating and issued a $330.00 price target on shares of Modine Manufacturing in a report on Monday, June 22nd. UBS Group upped their price objective on Modine Manufacturing to $310.00 and gave the stock a "buy" rating in a research note on Wednesday, May 27th. Zacks Research lowered Modine Manufacturing from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 13th. B. Riley Financial raised their target price on Modine Manufacturing from $250.00 to $264.00 and gave the company a "buy" rating in a research note on Tuesday, May 26th. Finally, KeyCorp boosted their price target on shares of Modine Manufacturing from $250.00 to $370.00 and gave the company an "overweight" rating in a report on Wednesday, May 27th. Seven analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, Modine Manufacturing presently has an average rating of "Moderate Buy" and an average price target of $327.14.

Modine Manufacturing Stock Performance

MOD opened at $246.52 on Wednesday. The business's 50 day moving average is $264.13 and its 200-day moving average is $225.93. The stock has a market cap of $13.09 billion, a PE ratio of 110.05, a price-to-earnings-growth ratio of 0.74 and a beta of 1.67. 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 twelve month low of $90.41 and a twelve month high of $323.25.

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

Insiders Place Their Bets

In other news, VP Brian Jon Agen sold 38,282 shares of the firm's stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $295.17, for a total transaction of $11,299,697.94. Following the transaction, the vice president directly owned 66,343 shares of the company's stock, valued at approximately $19,582,463.31. This trade represents a 36.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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 Modine Manufacturing 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 in the company, valued at approximately $12,219,669. This represents a 26.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 54,302 shares of company stock worth $15,928,759. 1.92% of the stock is owned by company insiders.

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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