Kennedy Capital Management LLC Buys 84,165 Shares of Modine Manufacturing Company $MOD

Kennedy Capital Management LLC grew its position in shares of Modine Manufacturing Company (NYSE:MOD) by 248.6% in the 2nd quarter, Holdings Channel reports. The firm owned 118,023 shares of the auto parts company’s stock after acquiring an additional 84,165 shares during the quarter. Kennedy Capital Management LLC’s holdings in Modine Manufacturing were worth $11,625,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Avantax Advisory Services Inc. raised its stake in Modine Manufacturing by 52.5% during the first quarter. Avantax Advisory Services Inc. now owns 5,607 shares of the auto parts company’s stock worth $430,000 after buying an additional 1,930 shares during the last quarter. Cetera Investment Advisers grew its stake in Modine Manufacturing by 40.6% during the first quarter. Cetera Investment Advisers now owns 13,520 shares of the auto parts company’s stock worth $1,038,000 after purchasing an additional 3,904 shares during the period. LPL Financial LLC lifted its stake in Modine Manufacturing by 15.5% in the first quarter. LPL Financial LLC now owns 58,148 shares of the auto parts company’s stock valued at $4,463,000 after buying an additional 7,790 shares during the period. Natixis Advisors LLC boosted its holdings in shares of Modine Manufacturing by 6.8% during the 1st quarter. Natixis Advisors LLC now owns 17,311 shares of the auto parts company’s stock worth $1,329,000 after buying an additional 1,107 shares in the last quarter. Finally, Blair William & Co. IL increased its stake in shares of Modine Manufacturing by 114.5% in the 1st quarter. Blair William & Co. IL now owns 63,993 shares of the auto parts company’s stock valued at $4,911,000 after acquiring an additional 34,154 shares in the last quarter. Institutional investors and hedge funds own 95.23% of the company’s stock.

Insider Activity at Modine Manufacturing

In related news, CEO Neil David Brinker sold 31,871 shares of the firm’s stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $160.56, for a total transaction of $5,117,207.76. Following the transaction, the chief executive officer directly owned 238,312 shares of the company’s stock, valued at $38,263,374.72. This trade represents a 11.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.48% of the stock is currently owned by corporate insiders.

Modine Manufacturing Trading Up 1.3%

MOD opened at $159.43 on Friday. Modine Manufacturing Company has a fifty-two week low of $64.79 and a fifty-two week high of $166.94. The firm has a market capitalization of $8.39 billion, a PE ratio of 46.08, a P/E/G ratio of 1.00 and a beta of 1.69. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.00 and a quick ratio of 1.16. The company’s 50-day moving average is $150.92 and its 200 day moving average is $128.19.

Modine Manufacturing (NYSE:MOD) last issued its quarterly earnings data on Tuesday, October 28th. The auto parts company reported $1.06 EPS for the quarter, topping the consensus estimate of $0.97 by $0.09. The firm had revenue of $738.90 million during the quarter, compared to the consensus estimate of $699.91 million. Modine Manufacturing had a return on equity of 23.19% and a net margin of 6.93%.The company’s quarterly revenue was up 12.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.97 earnings per share. As a group, research analysts predict that Modine Manufacturing Company will post 3.88 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have commented on MOD. Zacks Research cut shares of Modine Manufacturing from a “strong-buy” rating to a “hold” rating in a report on Monday, September 29th. DA Davidson reissued a “buy” rating and set a $200.00 price objective on shares of Modine Manufacturing in a research report on Wednesday, November 19th. Oppenheimer boosted their target price on Modine Manufacturing from $145.00 to $180.00 and gave the company an “outperform” rating in a research report on Tuesday, October 14th. KeyCorp upped their price target on Modine Manufacturing from $160.00 to $175.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 14th. Finally, UBS Group initiated coverage on Modine Manufacturing in a research note on Thursday, November 20th. They issued a “buy” rating and a $173.00 price objective for the company. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $182.00.

Modine Manufacturing Profile

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.