Tema ETFs LLC Increases Stock Holdings in Modine Manufacturing Company $MOD

Key Points

• Tema ETFs LLC increased its Modine Manufacturing stake by 15.5% in the second quarter, bringing its holdings to 113,679 shares valued at approximately $30.4 million. Institutional investors collectively own 95.23% of the company.
• Modine reported quarterly earnings of $1.53 per share, exceeding estimates of $1.27, while revenue rose 28% year over year to $874.1 million, slightly below expectations.
• Analysts maintain a generally positive outlook, with seven Buy ratings and two Holds, producing a “Moderate Buy” consensus and an average price target of $320.14. Shares opened at $198.88, although insiders sold roughly $15.9 million of stock over the past 90 days.

Tema ETFs LLC boosted its stake in Modine Manufacturing Company (NYSE:MOD - Free Report) by 15.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 113,679 shares of the auto parts company's stock after acquiring an additional 15,227 shares during the period. Modine Manufacturing accounts for approximately 1.0% of Tema ETFs LLC's holdings, making the stock its 27th biggest holding. Tema ETFs LLC owned 0.22% of Modine Manufacturing worth $30,355,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Revolve Wealth Partners LLC purchased a new stake in shares of Modine Manufacturing in the 2nd quarter worth about $202,000. Arista Wealth Management LLC purchased a new position in shares of Modine Manufacturing during the second quarter valued at about $267,000. Tactive Advisors LLC bought a new position in Modine Manufacturing in the second quarter worth about $401,000. Hennion & Walsh Asset Management Inc. raised its stake in Modine Manufacturing by 12.5% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 29,545 shares of the auto parts company's stock worth $7,889,000 after buying an additional 3,289 shares in the last quarter. Finally, Gradient Investments LLC purchased a new stake in Modine Manufacturing in the second quarter worth about $203,000. 95.23% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MOD has been the topic of several research reports. B. Riley Financial reaffirmed a "buy" rating and set a $305.00 price objective (down from $340.00) on shares of Modine Manufacturing in a research report on Thursday, July 30th. DA Davidson reissued a "buy" rating and issued a $330.00 target price on shares of Modine Manufacturing in a research report on Monday, June 22nd. KeyCorp lowered their target price on Modine Manufacturing from $370.00 to $280.00 and set an "overweight" rating for the company in a research note on Thursday, July 30th. UBS Group lifted their price target on Modine Manufacturing to $310.00 and gave the company a "buy" rating in a research report on Wednesday, May 27th. Finally, Wall Street Zen cut Modine Manufacturing from a "buy" rating to a "hold" rating in a research note on Saturday, July 25th. Seven analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $320.14.

Modine Manufacturing Trading Up 4.1%

NYSE:MOD opened at $198.88 on Wednesday. The firm has a market capitalization of $10.56 billion, a P/E ratio of 74.77, a PEG ratio of 0.62 and a beta of 1.71. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.04 and a quick ratio of 1.22. Modine Manufacturing Company has a one year low of $111.18 and a one year high of $323.25. The company's 50-day simple moving average is $244.84 and its 200 day simple moving average is $234.04.

Modine Manufacturing (NYSE:MOD - Get Free Report) last announced its earnings results on Tuesday, July 28th. The auto parts company reported $1.53 earnings per share for the quarter, beating analysts' consensus estimates 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 the consensus estimate of $878.69 million. During the same quarter last year, the firm earned $0.95 earnings per share. The business's revenue for the quarter was up 28.0% on a year-over-year basis. As a group, analysts forecast that Modine Manufacturing Company will post 7.65 EPS for the current fiscal year.

Insider Buying and Selling at Modine Manufacturing

In other Modine Manufacturing news, 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 value of $300,961.20. Following the sale, the insider directly 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. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Brian Jon Agen sold 38,282 shares of the 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 directly owned 66,343 shares in the company, valued at approximately $19,582,463.31. This represents a 36.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 54,302 shares of company stock worth $15,928,759. 1.92% of the stock is owned by 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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