Capital Fund Management S.A. Increases Stake in Modine Manufacturing Co. (MOD)
Capital Fund Management S.A. grew its stake in shares of Modine Manufacturing Co. (NYSE:MOD) by 196.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 31,100 shares of the auto parts company’s stock after purchasing an additional 20,600 shares during the period. Capital Fund Management S.A. owned approximately 0.06% of Modine Manufacturing worth $568,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Principal Financial Group Inc. bought a new stake in shares of Modine Manufacturing during the 1st quarter valued at about $7,434,000. Los Angeles Capital Management & Equity Research Inc. bought a new stake in shares of Modine Manufacturing during the 2nd quarter valued at about $1,241,000. Royce & Associates LP boosted its stake in shares of Modine Manufacturing by 11.1% during the 2nd quarter. Royce & Associates LP now owns 1,223,155 shares of the auto parts company’s stock valued at $22,323,000 after purchasing an additional 122,400 shares in the last quarter. James Investment Research Inc. bought a new stake in shares of Modine Manufacturing during the 2nd quarter valued at about $707,000. Finally, Penn Capital Management Co. Inc. boosted its stake in shares of Modine Manufacturing by 121.0% during the 1st quarter. Penn Capital Management Co. Inc. now owns 599,525 shares of the auto parts company’s stock valued at $12,692,000 after purchasing an additional 328,238 shares in the last quarter. 92.05% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Director Suresh V. Garimella sold 14,181 shares of the business’s stock in a transaction dated Tuesday, August 21st. The shares were sold at an average price of $17.65, for a total transaction of $250,294.65. Following the sale, the director now owns 40,135 shares of the company’s stock, valued at $708,382.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 4.48% of the company’s stock.
Modine Manufacturing (NYSE:MOD) last posted its quarterly earnings data on Wednesday, August 1st. The auto parts company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.36 by $0.05. Modine Manufacturing had a net margin of 1.26% and a return on equity of 17.01%. The business had revenue of $566.10 million for the quarter, compared to analyst estimates of $552.12 million. During the same quarter in the previous year, the firm posted $0.39 earnings per share. Modine Manufacturing’s quarterly revenue was up 9.8% on a year-over-year basis. research analysts anticipate that Modine Manufacturing Co. will post 1.59 EPS for the current fiscal year.
A number of equities research analysts have recently weighed in on MOD shares. ValuEngine lowered shares of Modine Manufacturing from a “sell” rating to a “strong sell” rating in a research note on Wednesday, September 12th. Zacks Investment Research lowered shares of Modine Manufacturing from a “hold” rating to a “sell” rating in a research note on Thursday, May 31st.
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 primarily in the United States. The company operates through Americas, Europe, Asia, Commercial and Industrial Solutions, and Building HVAC segments.
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