PEAK6 LLC Purchases Shares of 26,434 Modine Manufacturing Company $MOD

PEAK6 LLC acquired a new position in shares of Modine Manufacturing Company (NYSE:MOD) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 26,434 shares of the auto parts company’s stock, valued at approximately $7,058,000.

A number of other large investors have also recently made changes to their positions in MOD. V Square Quantitative Management LLC acquired a new position in shares of Modine Manufacturing during the first quarter valued at about $25,000. Rakuten Securities Inc. acquired a new stake in shares of Modine Manufacturing in the 2nd quarter worth about $40,000. Kemnay Advisory Services Inc. bought a new position in Modine Manufacturing in the 4th quarter valued at about $25,000. Optiver Holding B.V. boosted its stake in Modine Manufacturing by 19.7% during the 1st quarter. Optiver Holding B.V. now owns 237 shares of the auto parts company’s stock valued at $51,000 after purchasing an additional 39 shares during the last quarter. Finally, Keating Financial Advisory Services Inc. acquired a new position in Modine Manufacturing during the 2nd quarter valued at about $65,000. 95.23% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently commented on MOD shares. KeyCorp lowered their price objective on Modine Manufacturing from $370.00 to $280.00 and set an “overweight” rating for the company in a research note on Thursday, July 30th. Glj Research reissued a “buy” rating and issued a $428.00 price target on shares of Modine Manufacturing in a research report on Monday, June 1st. UBS Group raised their price objective on Modine Manufacturing to $310.00 and gave the company a “buy” rating in a research note on Wednesday, May 27th. B. Riley Financial reaffirmed a “buy” rating and set a $305.00 price objective (down from $340.00) on shares of Modine Manufacturing in a report on Thursday, July 30th. Finally, Weiss Ratings upgraded shares of Modine Manufacturing from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, May 28th. Seven research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $320.14.

Modine Manufacturing Trading Up 0.2%

NYSE:MOD opened at $198.03 on Monday. The company has a current ratio of 2.04, a quick ratio of 1.22 and a debt-to-equity ratio of 0.39. The firm’s 50 day moving average is $232.44 and its 200 day moving average is $236.31. Modine Manufacturing Company has a 12 month low of $111.18 and a 12 month high of $323.25. The stock has a market capitalization of $10.52 billion, a PE ratio of 74.45, a price-to-earnings-growth ratio of 0.65 and a beta of 1.71.

Modine Manufacturing (NYSE:MOD) last issued its earnings results on Wednesday, July 29th. The auto parts company reported $1.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $0.26. Modine Manufacturing had a return on equity of 25.59% and a net margin of 4.28%.The firm had revenue of $874.10 million for the quarter, compared to analyst estimates of $878.69 million. During the same period in the previous year, the company posted $0.95 earnings per share. The business’s revenue was up 28.0% on a year-over-year basis. Sell-side analysts expect that Modine Manufacturing Company will post 7.65 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Eric D. Ashleman sold 15,000 shares of Modine Manufacturing stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $288.54, for a total value of $4,328,100.00. Following the completion of the sale, the director owned 42,350 shares of the company’s stock, valued at approximately $12,219,669. This trade represents a 26.16% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Brian Jon Agen sold 38,282 shares of the business’s stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $295.17, for a total value of $11,299,697.94. Following the completion of the sale, the vice president owned 66,343 shares in the company, valued at $19,582,463.31. This represents a 36.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 54,302 shares of company stock valued at $15,928,759. 1.92% of the stock is owned by insiders.

About Modine Manufacturing

Modine Manufacturing Company (NYSE:MOD) is a global provider of thermal management solutions serving automotive, commercial transportation, heavy-duty off-highway, industrial, HVAC and refrigeration markets. The company designs, manufactures, tests and markets a broad array of heat-transfer products that manage temperature and energy efficiency for engines, power electronics and building climate control systems.

Its product portfolio includes heat exchangers, condensers, radiators, evaporators, charge air coolers, fan systems and associated controls.