Rational Advisors Inc. Invests $799,000 in Modine Manufacturing Company $MOD

Rational Advisors Inc. acquired a new position in Modine Manufacturing Company (NYSE:MOD) during the 2nd quarter, according to its most recent filing with the SEC. The fund acquired 2,991 shares of the auto parts company’s stock, valued at approximately $799,000.

Other large investors have also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Modine Manufacturing by 26.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,223 shares of the auto parts company’s stock worth $2,857,000 after acquiring an additional 7,831 shares during the last quarter. California Public Employees Retirement System grew its position in shares of Modine Manufacturing by 8.3% in the second quarter. California Public Employees Retirement System now owns 68,702 shares of the auto parts company’s stock valued at $6,767,000 after purchasing an additional 5,244 shares during the last quarter. State Street Corp grew its position in shares of Modine Manufacturing by 4.2% in the second quarter. State Street Corp now owns 1,309,488 shares of the auto parts company’s stock valued at $128,985,000 after purchasing an additional 53,351 shares during the last quarter. Qube Research & Technologies Ltd increased its stake in shares of Modine Manufacturing by 106.3% during the 2nd quarter. Qube Research & Technologies Ltd now owns 161,319 shares of the auto parts company’s stock worth $15,890,000 after purchasing an additional 83,105 shares in the last quarter. Finally, Sei Investments Co. increased its stake in shares of Modine Manufacturing by 70.8% during the 2nd quarter. Sei Investments Co. now owns 309,653 shares of the auto parts company’s stock worth $30,501,000 after purchasing an additional 128,348 shares in the last quarter. 95.23% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Modine Manufacturing

In other Modine Manufacturing 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 transaction of $4,328,100.00. Following the completion of the sale, the director directly owned 42,350 shares in the company, valued at $12,219,669. This represents a 26.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Brian Jon Agen sold 38,282 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the vice president owned 66,343 shares in the company, valued at approximately $19,582,463.31. This trade represents a 36.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 54,302 shares of company stock worth $15,928,759. 1.92% of the stock is owned by insiders.

Modine Manufacturing Trading Down 4.7%

Shares of MOD stock opened at $177.47 on Friday. The firm’s 50-day simple moving average is $222.05 and its 200-day simple moving average is $235.42. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.04 and a quick ratio of 1.22. Modine Manufacturing Company has a 1-year low of $111.18 and a 1-year high of $323.25. The firm has a market cap of $9.43 billion, a P/E ratio of 66.72, a PEG ratio of 0.58 and a beta of 1.71.

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

Analyst Ratings Changes

MOD has been the topic of a number of recent research reports. Wall Street Zen lowered Modine Manufacturing from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. B. Riley Financial reissued a “buy” rating and set a $305.00 price target (down from $340.00) on shares of Modine Manufacturing in a research report on Thursday, July 30th. UBS Group boosted their price target on Modine Manufacturing to $310.00 and gave the stock a “buy” rating in a report on Wednesday, May 27th. Oppenheimer upped their price objective on Modine Manufacturing from $271.00 to $325.00 and gave the company an “outperform” rating in a research report on Thursday, May 28th. Finally, DA Davidson reaffirmed a “buy” rating and set a $330.00 price objective on shares of Modine Manufacturing in a research note on Monday, June 22nd. Seven research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $320.14.

Modine Manufacturing Company 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.