Pinnbrook Capital Management LP Makes New Investment in Modine Manufacturing Company $MOD

Key Points

• Pinnbrook Capital Management LP bought a new stake of 48,703 shares in Modine Manufacturing (NYSE:MOD) during the third quarter, valued at about $6.924 million, representing roughly 0.09% ownership.
• Modine beat quarterly expectations with $1.19 EPS (vs. $0.99) and $805M revenue (+30.5% YoY), and analysts are largely bullish — consensus rating "Buy" with an average price target of $223.20.

Pinnbrook Capital Management LP bought a new stake in shares of Modine Manufacturing Company (NYSE:MOD - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 48,703 shares of the auto parts company's stock, valued at approximately $6,924,000. Pinnbrook Capital Management LP owned 0.09% of Modine Manufacturing as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Modine Manufacturing by 26.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,223 shares of the auto parts company's stock valued at $2,857,000 after purchasing an additional 7,831 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in Modine Manufacturing by 10.0% in the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 3,599 shares of the auto parts company's stock worth $355,000 after buying an additional 326 shares in the last quarter. Allworth Financial LP raised its stake in Modine Manufacturing by 522.4% in the second quarter. Allworth Financial LP now owns 722 shares of the auto parts company's stock worth $71,000 after buying an additional 606 shares in the last quarter. Boston Partners purchased a new stake in Modine Manufacturing during the second quarter worth $20,547,000. Finally, PNC Financial Services Group Inc. boosted its position in Modine Manufacturing by 21.8% during the 2nd quarter. PNC Financial Services Group Inc. now owns 1,449 shares of the auto parts company's stock valued at $143,000 after acquiring an additional 259 shares in the last quarter. Institutional investors own 95.23% of the company's stock.

Modine Manufacturing Stock Performance

MOD opened at $188.79 on Friday. The company has a market cap of $9.95 billion, a P/E ratio of 104.88, a price-to-earnings-growth ratio of 1.17 and a beta of 1.67. The company has a quick ratio of 1.28, a current ratio of 2.19 and a debt-to-equity ratio of 0.51. The firm's 50-day moving average price is $183.57 and its 200-day moving average price is $159.83. Modine Manufacturing Company has a 52-week low of $64.79 and a 52-week high of $243.80.

Modine Manufacturing (NYSE:MOD - Get Free Report) last released its earnings results on Wednesday, February 4th. The auto parts company reported $1.19 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.20. Modine Manufacturing had a net margin of 3.40% and a return on equity of 22.99%. The company had revenue of $805.00 million for the quarter, compared to the consensus estimate of $763.54 million. During the same quarter in the previous year, the firm earned $0.92 EPS. Modine Manufacturing's revenue was up 30.5% compared to the same quarter last year. As a group, equities analysts anticipate that Modine Manufacturing Company will post 3.88 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on MOD shares. Roth Mkm started coverage on Modine Manufacturing in a report on Wednesday, February 18th. They issued a "buy" rating and a $263.00 price target on the stock. Oppenheimer raised their price objective on Modine Manufacturing from $220.00 to $240.00 and gave the company an "outperform" rating in a research report on Friday, February 6th. UBS Group started coverage on shares of Modine Manufacturing in a research report on Thursday, November 20th. They set a "buy" rating and a $173.00 price target for the company. DA Davidson lifted their price objective on shares of Modine Manufacturing from $255.00 to $265.00 and gave the stock a "buy" rating in a research report on Monday, February 9th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Modine Manufacturing in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $223.20.

Insider Buying and Selling at Modine Manufacturing

In related news, Director Suresh V. Garimella sold 1,100 shares of the company's stock in a transaction 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. This represents a 1.36% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.48% of the stock is owned by company insiders.

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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