Modine Manufacturing Company $MOD Shares Sold by Van Berkom & Associates Inc.

Key Points

• Van Berkom & Associates cut its Modine Manufacturing stake by 16.1% in the first quarter, selling 70,390 shares and leaving it with 365,694 shares worth about $79.25 million.
• Modine reported strong quarterly results, with earnings of $1.71 per share versus $1.51 expected and revenue of $954.4 million, up 47.5% year over year.
• Wall Street remains constructive on the stock, with a Moderate Buy consensus and an average price target of $327.14; several firms recently raised targets or upgraded the shares.

Van Berkom & Associates Inc. reduced its stake in Modine Manufacturing Company (NYSE:MOD - Free Report) by 16.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 365,694 shares of the auto parts company's stock after selling 70,390 shares during the period. Modine Manufacturing makes up approximately 2.6% of Van Berkom & Associates Inc.'s portfolio, making the stock its 13th biggest position. Van Berkom & Associates Inc. owned about 0.69% of Modine Manufacturing worth $79,250,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently bought and sold shares of the company. V Square Quantitative Management LLC purchased a new position in Modine Manufacturing during the first quarter worth about $25,000. Kemnay Advisory Services Inc. purchased a new stake in shares of Modine Manufacturing in the 4th quarter valued at approximately $25,000. Spire Wealth Management purchased a new stake in shares of Modine Manufacturing in the 4th quarter valued at approximately $27,000. Sunbelt Securities Inc. acquired a new position in shares of Modine Manufacturing in the 3rd quarter worth approximately $39,000. Finally, Danske Bank A S acquired a new position in shares of Modine Manufacturing in the 3rd quarter worth approximately $43,000. Institutional investors and hedge funds own 95.23% of the company's stock.

Modine Manufacturing Trading Down 0.0%

NYSE MOD opened at $229.31 on Monday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.25 and a current ratio of 1.94. The firm has a market cap of $12.18 billion, a price-to-earnings ratio of 102.37, a PEG ratio of 0.74 and a beta of 1.67. The firm has a 50 day simple moving average of $265.89 and a 200-day simple moving average of $224.48. Modine Manufacturing Company has a one year low of $90.41 and a one year high of $323.25.

Modine Manufacturing (NYSE:MOD - Get Free Report) last announced its earnings results on Tuesday, May 26th. The auto parts company reported $1.71 earnings per share for the quarter, topping the consensus estimate of $1.51 by $0.20. The firm had revenue of $954.40 million for 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 firm's revenue for the quarter was up 47.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.12 EPS. Equities research analysts anticipate that Modine Manufacturing Company will post 7.72 EPS for the current fiscal year.

Wall Street Analyst Weigh In

MOD has been the subject of several research reports. Wall Street Zen upgraded shares of Modine Manufacturing from a "hold" rating to a "buy" rating in a report on Saturday, May 30th. KeyCorp upped their price target on Modine Manufacturing from $250.00 to $370.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 27th. UBS Group raised their price target on Modine Manufacturing to $310.00 and gave the stock a "buy" rating in a research report on Wednesday, May 27th. DA Davidson reaffirmed a "buy" rating and issued a $330.00 price objective on shares of Modine Manufacturing in a research note on Monday, June 22nd. Finally, Weiss Ratings upgraded Modine Manufacturing from a "hold (c-)" rating to a "hold (c)" rating in a report on Thursday, May 28th. Seven equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $327.14.

Insider Activity

In related news, VP Brian Jon Agen sold 38,282 shares of the business'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 completion of the transaction, the vice president directly owned 66,343 shares of the company's stock, valued at $19,582,463.31. The trade was a 36.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 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 value of $300,961.20. Following the sale, the insider owned 28,364 shares in the company, valued at approximately $8,369,081.84. This trade represents a 3.47% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 54,302 shares of company stock worth $15,928,759. Corporate insiders own 2.48% of the company's stock.

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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