Ranger Investment Management L.P. Purchases New Shares in Modine Manufacturing Company $MOD

Ranger Investment Management L.P. acquired a new position in shares of Modine Manufacturing Company (NYSE:MOD - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 71,789 shares of the auto parts company's stock, valued at approximately $15,557,000. Ranger Investment Management L.P. owned about 0.14% of Modine Manufacturing as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. World Investment Advisors boosted its stake in shares of Modine Manufacturing by 4.1% during the first quarter. World Investment Advisors now owns 1,643 shares of the auto parts company's stock worth $356,000 after buying an additional 65 shares during the period. Xponance LLC increased its position in Modine Manufacturing by 1.7% in the 4th quarter. Xponance LLC now owns 4,424 shares of the auto parts company's stock valued at $591,000 after acquiring an additional 75 shares during the period. State of Alaska Department of Revenue raised its stake in Modine Manufacturing by 3.4% during the 4th quarter. State of Alaska Department of Revenue now owns 3,156 shares of the auto parts company's stock valued at $421,000 after acquiring an additional 103 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in Modine Manufacturing by 6.1% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,780 shares of the auto parts company's stock valued at $386,000 after acquiring an additional 103 shares during the last quarter. Finally, NewEdge Advisors LLC lifted its position in Modine Manufacturing by 18.3% during the 4th quarter. NewEdge Advisors LLC now owns 680 shares of the auto parts company's stock worth $91,000 after acquiring an additional 105 shares during the period. 95.23% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have weighed in on MOD shares. DA Davidson reiterated a "buy" rating and issued a $330.00 target price on shares of Modine Manufacturing in a research note on Monday, June 22nd. B. Riley Financial upped their price target on Modine Manufacturing from $250.00 to $264.00 and gave the stock a "buy" rating in a research note on Tuesday, May 26th. Wall Street Zen lowered shares of Modine Manufacturing from a "buy" rating to a "hold" rating in a research report on Saturday. Glj Research reissued a "buy" rating and issued a $428.00 price objective on shares of Modine Manufacturing in a research note on Monday, June 1st. Finally, Weiss Ratings upgraded shares of Modine Manufacturing from a "hold (c-)" rating to a "hold (c)" rating in a research report on Thursday, May 28th. Seven analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $327.14.

Insider Buying and Selling

In other Modine Manufacturing 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 value of $11,299,697.94. Following the completion of the sale, the vice president 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Eric S. Mcginnis sold 1,020 shares of the business's stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $295.06, for a total transaction of $300,961.20. Following the sale, the insider owned 28,364 shares in the company, valued at $8,369,081.84. The trade was a 3.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 54,302 shares of company stock valued at $15,928,759 over the last quarter. Company insiders own 1.92% of the company's stock.

Modine Manufacturing Price Performance

Shares of MOD opened at $208.32 on Wednesday. The company has a current ratio of 1.94, a quick ratio of 1.25 and a debt-to-equity ratio of 0.32. The stock's 50 day moving average is $261.03 and its two-hundred day moving average is $229.56. Modine Manufacturing Company has a twelve month low of $107.27 and a twelve month high of $323.25. The firm has a market capitalization of $11.06 billion, a PE ratio of 93.00, a P/E/G ratio of 0.75 and a beta of 1.67.

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

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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