Modine Manufacturing (NYSE:MOD) Shares Purchased by Creative Planning

Creative Planning lifted its holdings in Modine Manufacturing (NYSE:MOD) by 93.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,696 shares of the auto parts company’s stock after acquiring an additional 4,692 shares during the quarter. Creative Planning’s holdings in Modine Manufacturing were worth $971,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Acadian Asset Management LLC acquired a new stake in shares of Modine Manufacturing in the first quarter worth $37,000. Opal Wealth Advisors LLC purchased a new stake in Modine Manufacturing during the second quarter worth $51,000. West Oak Capital LLC boosted its holdings in Modine Manufacturing by 300.0% during the second quarter. West Oak Capital LLC now owns 600 shares of the auto parts company’s stock worth $60,000 after buying an additional 450 shares in the last quarter. Fifth Third Bancorp purchased a new stake in Modine Manufacturing during the second quarter worth $64,000. Finally, DekaBank Deutsche Girozentrale purchased a new stake in Modine Manufacturing during the second quarter worth $68,000. Institutional investors and hedge funds own 95.23% of the company’s stock.

Insider Transactions at Modine Manufacturing

In other news, Director Marsha C. Williams sold 34,400 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $109.74, for a total value of $3,775,056.00. Following the transaction, the director now directly owns 144,038 shares of the company’s stock, valued at approximately $15,806,730.12. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 2.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on MOD shares. DA Davidson increased their price target on shares of Modine Manufacturing from $140.00 to $155.00 and gave the stock a “buy” rating in a report on Tuesday, September 24th. William Blair began coverage on shares of Modine Manufacturing in a report on Monday, July 29th. They set an “outperform” rating on the stock. B. Riley increased their price objective on shares of Modine Manufacturing from $125.00 to $140.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $135.00 price objective on shares of Modine Manufacturing in a report on Thursday, September 12th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $143.33.

Modine Manufacturing Stock Performance

MOD opened at $130.95 on Friday. The firm’s fifty day simple moving average is $115.21 and its two-hundred day simple moving average is $104.60. The company has a quick ratio of 1.11, a current ratio of 1.80 and a debt-to-equity ratio of 0.51. The company has a market cap of $6.86 billion, a price-to-earnings ratio of 43.22, a PEG ratio of 0.97 and a beta of 2.22. Modine Manufacturing has a 52-week low of $38.50 and a 52-week high of $138.99.

Modine Manufacturing (NYSE:MOD) last posted its quarterly earnings results on Tuesday, July 30th. The auto parts company reported $1.04 earnings per share for the quarter, topping the consensus estimate of $0.86 by $0.18. The firm had revenue of $661.50 million for the quarter, compared to the consensus estimate of $633.55 million. Modine Manufacturing had a net margin of 6.70% and a return on equity of 24.92%. The company’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same period last year, the firm posted $0.85 earnings per share. Equities analysts anticipate that Modine Manufacturing will post 3.85 earnings per share for the current fiscal year.

About Modine Manufacturing

Modine Manufacturing Company provides thermal management products and solutions in the United States, Italy, Hungary, China, the United Kingdom, and internationally. It operates through Climate Solutions and Performance Technologies segments. The company offers heat transfer coils, including heat recovery and round tube plate fin coils; gas-fired, hydronic, electric and oilfired unit heaters; roof-mounted direct- and indirect-fired makeup air units; duct furnaces; infrared units; perimeter heating products; single packaged unit ventilators; modular chillers; air handler and condensing units; ceiling cassettes; evaporator unit coolers, remote condensers, fluid coolers, gas coolers, and dry and brine coolers; and motor and generator cooling coils, transformer oil coolers, radiators, dryers, and industrial heat exchangers.