Quent Capital LLC Purchases 8,000 Shares of Modine Manufacturing (NYSE:MOD)

Quent Capital LLC lifted its position in shares of Modine Manufacturing (NYSE:MOD) by 160.0% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,000 shares of the auto parts company’s stock after purchasing an additional 8,000 shares during the quarter. Quent Capital LLC’s holdings in Modine Manufacturing were worth $1,726,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Park Avenue Securities LLC bought a new stake in Modine Manufacturing during the third quarter worth about $228,000. Sanctuary Advisors LLC bought a new stake in shares of Modine Manufacturing in the 2nd quarter worth approximately $1,382,000. Teachers Retirement System of The State of Kentucky bought a new stake in shares of Modine Manufacturing in the 2nd quarter worth approximately $1,475,000. Cetera Investment Advisers grew its stake in shares of Modine Manufacturing by 33.2% in the 2nd quarter. Cetera Investment Advisers now owns 25,856 shares of the auto parts company’s stock worth $2,591,000 after buying an additional 6,451 shares during the last quarter. Finally, Truist Financial Corp increased its position in Modine Manufacturing by 12.0% during the 2nd quarter. Truist Financial Corp now owns 34,457 shares of the auto parts company’s stock valued at $3,452,000 after buying an additional 3,683 shares in the last quarter. 95.23% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MOD has been the topic of several analyst reports. B. Riley boosted their target price on Modine Manufacturing from $125.00 to $140.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. William Blair assumed coverage on shares of Modine Manufacturing in a research note on Monday, July 29th. They issued an “outperform” rating on the stock. DA Davidson raised their price objective on shares of Modine Manufacturing from $140.00 to $155.00 and gave the company a “buy” rating in a research note on Tuesday, September 24th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $135.00 target price on shares of Modine Manufacturing in a report on Thursday, September 12th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $143.33.

Modine Manufacturing Stock Up 2.7 %

Shares of MOD stock traded up $3.51 during mid-day trading on Friday, hitting $134.38. The company’s stock had a trading volume of 393,471 shares, compared to its average volume of 878,442. The stock has a market cap of $7.04 billion, a price-to-earnings ratio of 44.35, a PEG ratio of 0.97 and a beta of 2.22. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.11 and a current ratio of 1.80. Modine Manufacturing has a 52-week low of $38.50 and a 52-week high of $138.99. The business has a 50-day moving average price of $113.58 and a 200 day moving average price of $103.85.

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

Insider Activity

In related news, Director Marsha C. Williams sold 34,400 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $109.74, for a total transaction of $3,775,056.00. Following the transaction, the director now owns 144,038 shares in the company, valued at $15,806,730.12. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.40% of the stock is owned by corporate insiders.

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.