Seven Eight Capital LP acquired a new stake in shares of Modine Manufacturing (NYSE:MOD – Free Report) during the third quarter, HoldingsChannel reports. The fund acquired 4,878 shares of the auto parts company’s stock, valued at approximately $223,000.
A number of other hedge funds also recently made changes to their positions in MOD. FNY Investment Advisers LLC bought a new stake in shares of Modine Manufacturing in the 3rd quarter worth about $25,000. Harbour Investments Inc. lifted its stake in Modine Manufacturing by 154.1% in the second quarter. Harbour Investments Inc. now owns 1,245 shares of the auto parts company’s stock worth $41,000 after purchasing an additional 755 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in shares of Modine Manufacturing by 966.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,472 shares of the auto parts company’s stock valued at $29,000 after buying an additional 1,334 shares during the last quarter. Point72 Middle East FZE bought a new stake in shares of Modine Manufacturing during the 4th quarter worth approximately $31,000. Finally, Tower Research Capital LLC TRC boosted its holdings in Modine Manufacturing by 161.3% during the 1st quarter. Tower Research Capital LLC TRC now owns 1,680 shares of the auto parts company’s stock valued at $38,000 after acquiring an additional 1,037 shares during the period. 91.35% of the stock is currently owned by institutional investors.
Insider Buying and Selling
In other Modine Manufacturing news, CFO Michael B. Lucareli sold 82,312 shares of the stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $90.33, for a total transaction of $7,435,242.96. Following the sale, the chief financial officer now owns 194,587 shares of the company’s stock, valued at approximately $17,577,043.71. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Michael B. Lucareli sold 82,312 shares of Modine Manufacturing stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $90.33, for a total value of $7,435,242.96. Following the transaction, the chief financial officer now owns 194,587 shares of the company’s stock, valued at approximately $17,577,043.71. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Christopher William Patterson sold 14,225 shares of the stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $90.56, for a total transaction of $1,288,216.00. Following the sale, the director now directly owns 97,517 shares of the company’s stock, valued at approximately $8,831,139.52. The disclosure for this sale can be found here. Insiders sold 116,537 shares of company stock valued at $9,823,459 over the last 90 days. Corporate insiders own 2.86% of the company’s stock.
Modine Manufacturing Stock Performance
Shares of Modine Manufacturing stock opened at $81.25 on Tuesday. Modine Manufacturing has a 12 month low of $19.41 and a 12 month high of $96.00. The stock’s fifty day moving average price is $72.99 and its 200-day moving average price is $56.98. The firm has a market cap of $4.24 billion, a P/E ratio of 19.16, a P/E/G ratio of 1.03 and a beta of 2.28. The company has a current ratio of 1.93, a quick ratio of 1.21 and a debt-to-equity ratio of 0.43.
Modine Manufacturing (NYSE:MOD – Get Free Report) last posted its earnings results on Tuesday, January 30th. The auto parts company reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.17. Modine Manufacturing had a net margin of 9.31% and a return on equity of 25.28%. The business had revenue of $561.40 million for the quarter, compared to the consensus estimate of $594.84 million. During the same quarter last year, the firm posted $0.48 EPS. The company’s revenue for the quarter was up .2% on a year-over-year basis. On average, equities research analysts expect that Modine Manufacturing will post 3.26 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
Several analysts have recently weighed in on MOD shares. B. Riley reiterated a “buy” rating and set a $98.00 target price (up from $88.00) on shares of Modine Manufacturing in a research report on Tuesday, February 27th. StockNews.com cut shares of Modine Manufacturing from a “buy” rating to a “hold” rating in a research report on Wednesday, January 31st. Finally, DA Davidson reaffirmed a “buy” rating and set a $90.00 target price on shares of Modine Manufacturing in a research report on Tuesday, February 27th.
Check Out Our Latest Stock Report on MOD
Modine Manufacturing Profile
Modine Manufacturing Company provides engineered heat transfer systems and heat transfer components for use in on- and off-highway original equipment manufacturer (OEM) vehicular applications. It operates through Climate Solutions and Performance Technologies segments. The company offers gas-fired, hydronic, electric, and oil-fired unit heaters; indoor and outdoor duct furnaces; infrared units; perimeter heating products, such as commercial fin-tube radiation, cabinet unit heaters, and convectors; roof-mounted direct- and indirect-fired makeup air units; unit ventilators; single packaged vertical units; precision air conditioning units for data center applications; air handler units; fan walls; chillers; ceiling cassettes; hybrid fan coils; and condensers and condensing units.
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