Sone Capital Management LLC Invests $4.89 Million in Modine Manufacturing Company $MOD

Key Points

• Sone Capital Management initiated a $4.89 million position in Modine Manufacturing by purchasing 18,301 shares during the second quarter. Institutional investors collectively own 95.23% of the company.
• Analysts maintain a generally positive outlook, with seven Buy ratings and two Hold ratings, producing a “Moderate Buy” consensus and an average price target of $320.14.
• Modine reported quarterly EPS of $1.53, beating estimates of $1.27, while revenue rose 28% year over year to $874.1 million. However, the stock opened at $188.48, well below its 52-week high of $323.25, and insiders have sold roughly $15.9 million in shares over the past 90 days.

Sone Capital Management LLC bought a new stake in Modine Manufacturing Company (NYSE:MOD - Free Report) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 18,301 shares of the auto parts company's stock, valued at approximately $4,887,000.

Other hedge funds have also modified their holdings of the company. V Square Quantitative Management LLC purchased a new position in Modine Manufacturing in the 1st quarter worth approximately $25,000. Kemnay Advisory Services Inc. purchased a new stake in shares of Modine Manufacturing during the fourth quarter valued at approximately $25,000. Sunbelt Securities Inc. acquired a new position in shares of Modine Manufacturing during the third quarter worth $39,000. Rakuten Securities Inc. acquired a new position in shares of Modine Manufacturing during the second quarter worth $40,000. Finally, Danske Bank A S purchased a new position in shares of Modine Manufacturing in the third quarter valued at $43,000. 95.23% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Glj Research reaffirmed a "buy" rating and set a $428.00 price target on shares of Modine Manufacturing in a report on Monday, June 1st. B. Riley Financial reissued a "buy" rating and issued a $305.00 price objective (down from $340.00) on shares of Modine Manufacturing in a research report on Thursday, July 30th. Wall Street Zen downgraded Modine Manufacturing from a "buy" rating to a "hold" rating in a research note on Saturday, July 25th. Weiss Ratings raised Modine Manufacturing from a "hold (c-)" rating to a "hold (c)" rating in a research report on Thursday, May 28th. Finally, UBS Group boosted their price target on Modine Manufacturing to $310.00 and gave the stock a "buy" rating in a research note on Wednesday, May 27th. Seven research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, Modine Manufacturing has an average rating of "Moderate Buy" and an average target price of $320.14.

Modine Manufacturing Stock Down 4.7%

NYSE:MOD opened at $188.48 on Tuesday. The company has a market capitalization of $10.01 billion, a price-to-earnings ratio of 70.86, a price-to-earnings-growth ratio of 0.65 and a beta of 1.71. Modine Manufacturing Company has a one year low of $111.18 and a one year high of $323.25. The stock has a 50-day simple moving average of $230.48 and a 200 day simple moving average of $236.23. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.22 and a current ratio of 2.04.

Modine Manufacturing (NYSE:MOD - Get Free Report) last posted its quarterly earnings results on Wednesday, July 29th. The auto parts company reported $1.53 EPS for the quarter, beating the consensus estimate of $1.27 by $0.26. Modine Manufacturing had a net margin of 4.28% and a return on equity of 25.59%. The business had revenue of $874.10 million during the quarter, compared to analyst estimates of $878.69 million. During the same period in the previous year, the business posted $0.95 EPS. The company's quarterly revenue was up 28.0% on a year-over-year basis. Sell-side analysts predict that Modine Manufacturing Company will post 7.65 EPS for the current fiscal year.

Insider Transactions at Modine Manufacturing

In related news, Director Eric D. Ashleman sold 15,000 shares of the company's stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $288.54, for a total transaction of $4,328,100.00. Following the completion of the transaction, the director directly owned 42,350 shares in the company, valued at $12,219,669. This represents a 26.16% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Eric S. Mcginnis sold 1,020 shares of the company'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 transaction, the insider owned 28,364 shares of the company's stock, valued at approximately $8,369,081.84. The trade was a 3.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 54,302 shares of company stock worth $15,928,759. 1.92% of the stock is currently owned by company insiders.

About Modine Manufacturing

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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