Thematics Asset Management Has $9.53 Million Stock Holdings in Modine Manufacturing Company $MOD

Key Points

• Thematics Asset Management trimmed its stake in Modine by 10.7% to 67,000 shares, holding about $9.53 million worth of stock at the end of the quarter.
• Director Suresh V. Garimella sold 1,100 shares at an average price of $184.07 (≈$202,477), reducing his holding to 79,856 shares; insiders now own about 2.48% of the company.
• Modine beat expectations with Q results of $1.19 EPS vs. $0.99 est. and $805M revenue (up 30.5% YoY), and analysts have been raising price targets (average target ≈ $223.20) with a consensus rating of "Buy."

Thematics Asset Management reduced its stake in Modine Manufacturing Company (NYSE:MOD - Free Report) by 10.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 67,000 shares of the auto parts company's stock after selling 8,000 shares during the period. Thematics Asset Management owned 0.13% of Modine Manufacturing worth $9,525,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. First Horizon Corp bought a new stake in shares of Modine Manufacturing during the 3rd quarter worth about $38,000. Elevation Point Wealth Partners LLC bought a new position in Modine Manufacturing in the 2nd quarter valued at about $57,000. Toth Financial Advisory Corp bought a new position in Modine Manufacturing in the 3rd quarter valued at about $57,000. AdvisorShares Investments LLC lifted its position in Modine Manufacturing by 154.0% during the third quarter. AdvisorShares Investments LLC now owns 475 shares of the auto parts company's stock worth $68,000 after acquiring an additional 288 shares during the last quarter. Finally, Allworth Financial LP boosted its holdings in shares of Modine Manufacturing by 522.4% during the second quarter. Allworth Financial LP now owns 722 shares of the auto parts company's stock worth $71,000 after acquiring an additional 606 shares during the period. 95.23% of the stock is owned by institutional investors.

Insider Buying and Selling at Modine Manufacturing

In other news, Director Suresh V. Garimella sold 1,100 shares of the stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $184.07, for a total transaction of $202,477.00. Following the sale, the director directly owned 79,856 shares of the company's stock, valued at approximately $14,699,093.92. This represents a 1.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 2.48% of the company's stock.

Modine Manufacturing Stock Down 1.6%

NYSE MOD opened at $188.79 on Friday. The company has a current ratio of 2.19, a quick ratio of 1.28 and a debt-to-equity ratio of 0.51. Modine Manufacturing Company has a 1-year low of $64.79 and a 1-year high of $243.80. The company has a 50 day moving average of $183.57 and a 200-day moving average of $159.83. The company has a market cap of $9.95 billion, a price-to-earnings ratio of 104.88, a PEG ratio of 1.17 and a beta of 1.67.

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

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Oppenheimer upped their target price on Modine Manufacturing from $220.00 to $240.00 and gave the company an "outperform" rating in a research report on Friday, February 6th. Weiss Ratings restated a "hold (c)" rating on shares of Modine Manufacturing in a research note on Monday, December 29th. Zacks Research raised Modine Manufacturing from a "hold" rating to a "strong-buy" rating in a report on Friday, January 30th. UBS Group began coverage on Modine Manufacturing in a research report on Thursday, November 20th. They set a "buy" rating and a $173.00 price objective on the stock. Finally, DA Davidson lifted their target price on Modine Manufacturing from $255.00 to $265.00 and gave the stock a "buy" rating in a report on Monday, February 9th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Buy" and an average target price of $223.20.

Modine Manufacturing 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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