Sanctuary Advisors LLC Invests $1.44 Million in Modine Manufacturing Company $MOD

Sanctuary Advisors LLC bought a new position in Modine Manufacturing Company (NYSE:MOD) in the 2nd quarter, Holdings Channel.com reports. The firm bought 5,375 shares of the auto parts company’s stock, valued at approximately $1,435,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. V Square Quantitative Management LLC purchased a new stake in Modine Manufacturing in the 1st quarter valued at approximately $25,000. Kemnay Advisory Services Inc. purchased a new position in shares of Modine Manufacturing during the 4th quarter worth approximately $25,000. Sunbelt Securities Inc. purchased a new position in shares of Modine Manufacturing during the 3rd quarter worth approximately $39,000. Rakuten Securities Inc. acquired a new stake in shares of Modine Manufacturing in the 2nd quarter valued at approximately $40,000. Finally, Danske Bank A S acquired a new stake in shares of Modine Manufacturing in the 3rd quarter valued at approximately $43,000. Hedge funds and other institutional investors own 95.23% of the company’s stock.

Modine Manufacturing Trading Down 0.4%

Shares of MOD opened at $187.25 on Thursday. Modine Manufacturing Company has a fifty-two week low of $111.18 and a fifty-two week high of $323.25. The company has a market capitalization of $9.94 billion, a PE ratio of 70.39, a price-to-earnings-growth ratio of 0.61 and a beta of 1.71. The stock has a fifty day moving average of $226.58 and a two-hundred day moving average of $236.03. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.22 and a current ratio of 2.04.

Modine Manufacturing (NYSE:MOD) last released its earnings results on Wednesday, July 29th. The auto parts company reported $1.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.27 by $0.26. The business had revenue of $874.10 million for the quarter, compared to analysts’ expectations of $878.69 million. Modine Manufacturing had a net margin of 4.28% and a return on equity of 25.59%. The company’s quarterly revenue was up 28.0% on a year-over-year basis. During the same period last year, the company earned $0.95 earnings per share. As a group, analysts forecast that Modine Manufacturing Company will post 7.65 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Weiss Ratings upgraded shares of Modine Manufacturing from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, May 28th. B. Riley Financial reiterated a “buy” rating and issued a $305.00 price objective (down from $340.00) on shares of Modine Manufacturing in a research note on Thursday, July 30th. DA Davidson reissued a “buy” rating and set a $330.00 price objective on shares of Modine Manufacturing in a report on Monday, June 22nd. Oppenheimer upped their target price on shares of Modine Manufacturing from $271.00 to $325.00 and gave the stock an “outperform” rating in a research report on Thursday, May 28th. Finally, UBS Group increased their target price on shares of Modine Manufacturing to $310.00 and gave the company a “buy” rating in a report on Wednesday, May 27th. Seven equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, Modine Manufacturing presently has an average rating of “Moderate Buy” and an average target price of $320.14.

Insider Transactions at Modine Manufacturing

In other news, Director Eric D. Ashleman sold 15,000 shares of the company’s 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 $12,219,669. This represents a 26.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Brian Jon Agen sold 38,282 shares of the business’s stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $295.17, for a total value of $11,299,697.94. Following the transaction, the vice president directly owned 66,343 shares in the company, valued at $19,582,463.31. This trade 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. Insiders sold 54,302 shares of company stock valued at $15,928,759 over the last 90 days. Corporate insiders own 1.92% of the company’s stock.

Modine Manufacturing Profile

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.