KTF Investments LLC Acquires Shares of 165,885 Modine Manufacturing Company $MOD

Key Points

• KTF Investments LLC acquired 165,885 shares of Modine (NYSE:MOD) in Q4 — roughly $22.15 million — making MOD 3.6% of KTF’s portfolio and its eighth-largest holding (KTF owns about 0.32% of the company).
• Modine beat Q results with $1.19 EPS vs. $0.99 expected and $805M revenue (up 30.5% YoY); analysts have a consensus “Moderate Buy” rating with an average price target of $234.33 while the stock trades near $245.42 (market cap ≈ $12.9B).

KTF Investments LLC acquired a new stake in shares of Modine Manufacturing Company (NYSE:MOD - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 165,885 shares of the auto parts company's stock, valued at approximately $22,147,000. Modine Manufacturing makes up 3.6% of KTF Investments LLC's investment portfolio, making the stock its 8th biggest position. KTF Investments LLC owned 0.32% of Modine Manufacturing as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Parkside Financial Bank & Trust boosted its holdings in Modine Manufacturing by 17.6% during the third quarter. Parkside Financial Bank & Trust now owns 500 shares of the auto parts company's stock valued at $71,000 after purchasing an additional 75 shares in the last quarter. State of Alaska Department of Revenue boosted its holdings in Modine Manufacturing by 3.4% during the fourth quarter. State of Alaska Department of Revenue now owns 3,156 shares of the auto parts company's stock valued at $421,000 after purchasing an additional 103 shares in the last quarter. Intrust Bank NA boosted its holdings in Modine Manufacturing by 2.3% during the third quarter. Intrust Bank NA now owns 4,919 shares of the auto parts company's stock valued at $699,000 after purchasing an additional 109 shares in the last quarter. BCS Private Wealth Management Inc. boosted its holdings in Modine Manufacturing by 2.8% during the third quarter. BCS Private Wealth Management Inc. now owns 4,525 shares of the auto parts company's stock valued at $643,000 after purchasing an additional 125 shares in the last quarter. Finally, Arizona State Retirement System boosted its holdings in Modine Manufacturing by 1.2% during the third quarter. Arizona State Retirement System now owns 14,752 shares of the auto parts company's stock valued at $2,097,000 after purchasing an additional 176 shares in the last quarter. 95.23% of the stock is owned by institutional investors and hedge funds.

Modine Manufacturing Stock Down 2.5%

Shares of MOD opened at $245.42 on Tuesday. The company has a market capitalization of $12.94 billion, a P/E ratio of 136.35, a PEG ratio of 1.02 and a beta of 1.68. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.19 and a quick ratio of 1.28. Modine Manufacturing Company has a one year low of $77.29 and a one year high of $260.01. The business's 50 day simple moving average is $222.13 and its 200-day simple moving average is $178.03.

Modine Manufacturing (NYSE:MOD - Get Free Report) last announced its earnings results on Wednesday, February 4th. The auto parts company reported $1.19 EPS for the quarter, topping the consensus estimate of $0.99 by $0.20. The business had revenue of $805.00 million for the quarter, compared to the consensus estimate of $763.54 million. Modine Manufacturing had a return on equity of 22.99% and a net margin of 3.40%.Modine Manufacturing's revenue was up 30.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.92 EPS. As a group, sell-side analysts predict that Modine Manufacturing Company will post 4.82 EPS for the current fiscal year.

Insider Activity at Modine Manufacturing

In other news, Director Suresh V. Garimella sold 1,100 shares of the business's stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $184.07, for a total value of $202,477.00. Following the transaction, the director directly owned 79,856 shares of the company's stock, valued at $14,699,093.92. The trade was a 1.36% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.48% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on MOD. Zacks Research downgraded Modine Manufacturing from a "strong-buy" rating to a "hold" rating in a report on Monday, April 13th. Roth Mkm began coverage on Modine Manufacturing in a report on Wednesday, February 18th. They set a "buy" rating and a $263.00 price objective on the stock. Wall Street Zen downgraded Modine Manufacturing from a "buy" rating to a "hold" rating in a report on Sunday, February 22nd. Glj Research started coverage on Modine Manufacturing in a report on Monday, March 30th. They issued a "buy" rating and a $290.00 target price on the stock. Finally, Oppenheimer boosted their target price on Modine Manufacturing from $220.00 to $240.00 and gave the stock an "outperform" rating in a report on Friday, February 6th. Six analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $234.33.

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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