Paradigm Capital Management Inc. NY Has $315.44 Million Stake in Modine Manufacturing Company $MOD

Paradigm Capital Management Inc. NY cut its holdings in shares of Modine Manufacturing Company (NYSE:MOD - Free Report) by 1.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,455,598 shares of the auto parts company's stock after selling 20,700 shares during the quarter. Modine Manufacturing makes up 12.1% of Paradigm Capital Management Inc. NY's investment portfolio, making the stock its largest holding. Paradigm Capital Management Inc. NY owned 2.76% of Modine Manufacturing worth $315,443,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. Invesco Ltd. grew its position in Modine Manufacturing by 120.4% during the fourth quarter. Invesco Ltd. now owns 1,318,529 shares of the auto parts company's stock valued at $176,037,000 after buying an additional 720,389 shares during the period. Price T Rowe Associates Inc. MD raised its position in Modine Manufacturing by 31.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,333,174 shares of the auto parts company's stock worth $311,503,000 after acquiring an additional 560,131 shares during the period. WT Asset Management Ltd purchased a new position in Modine Manufacturing in the fourth quarter valued at about $69,255,000. Norges Bank purchased a new position in Modine Manufacturing in the fourth quarter valued at about $58,309,000. Finally, Van Berkom & Associates Inc. grew its position in shares of Modine Manufacturing by 3,145.2% during the 4th quarter. Van Berkom & Associates Inc. now owns 436,084 shares of the auto parts company's stock valued at $58,222,000 after acquiring an additional 422,646 shares during the period. 95.23% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Modine Manufacturing

In other news, insider Eric S. Mcginnis sold 1,020 shares of the firm's stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $295.06, for a total value of $300,961.20. Following the completion of the transaction, the insider directly owned 28,364 shares of the company's stock, valued at $8,369,081.84. This trade represents a 3.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 completion of the transaction, the director owned 42,350 shares of the company's stock, valued at approximately $12,219,669. This trade represents a 26.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 54,302 shares of company stock valued at $15,928,759 in the last 90 days. 1.92% of the stock is currently owned by company insiders.

Modine Manufacturing Price Performance

MOD opened at $241.46 on Friday. The firm has a 50-day moving average price of $262.07 and a 200-day moving average price of $227.62. Modine Manufacturing Company has a twelve month low of $98.90 and a twelve month high of $323.25. The company has a quick ratio of 1.25, a current ratio of 1.94 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $12.82 billion, a price-to-earnings ratio of 107.80, a PEG ratio of 0.81 and a beta of 1.67.

Modine Manufacturing (NYSE:MOD - Get Free Report) last announced its quarterly earnings results on Tuesday, May 26th. The auto parts company reported $1.71 EPS for the quarter, beating analysts' consensus estimates of $1.51 by $0.20. The company had revenue of $954.40 million for the quarter, compared to analysts' expectations of $920.67 million. Modine Manufacturing had a net margin of 3.82% and a return on equity of 24.39%. Modine Manufacturing's revenue was up 47.5% compared to the same quarter last year. During the same period in the prior year, the company posted $1.12 EPS. Equities analysts expect that Modine Manufacturing Company will post 7.72 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. DA Davidson restated a "buy" rating and set a $330.00 price target on shares of Modine Manufacturing in a research note on Monday, June 22nd. KeyCorp increased their price objective on Modine Manufacturing from $250.00 to $370.00 and gave the company an "overweight" rating in a report on Wednesday, May 27th. B. Riley Financial raised their target price on Modine Manufacturing from $250.00 to $264.00 and gave the stock a "buy" rating in a research report on Tuesday, May 26th. Oppenheimer boosted 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. Finally, Wall Street Zen cut Modine Manufacturing from a "buy" rating to a "hold" rating in a research report on Saturday. Seven analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $327.14.

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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