Ranger Investment Management L.P. Buys New Shares in Modine Manufacturing Company $MOD

Ranger Investment Management L.P. acquired a new stake in shares of Modine Manufacturing Company (NYSE:MOD) in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund acquired 67,226 shares of the auto parts company’s stock, valued at approximately $17,951,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Sanctuary Advisors LLC acquired a new stake in Modine Manufacturing during the second quarter valued at $1,435,000. Neumeier Poma Investment Counsel LLC acquired a new stake in shares of Modine Manufacturing in the second quarter worth approximately $31,882,188,000. Polymer Capital Management HK LTD acquired a new stake in shares of Modine Manufacturing in the second quarter valued at about $8,663,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Modine Manufacturing during the 2nd quarter worth approximately $444,000. Finally, PEAK6 LLC acquired a new stake in shares of Modine Manufacturing in the 2nd quarter worth $7,058,000. 95.23% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently weighed in on MOD. DA Davidson reiterated a “buy” rating and issued a $330.00 price objective on shares of Modine Manufacturing in a research report on Monday, June 22nd. B. Riley Financial restated a “buy” rating and issued a $305.00 price target (down from $340.00) on shares of Modine Manufacturing in a research note on Thursday, July 30th. KeyCorp reduced their target price on shares of Modine Manufacturing from $370.00 to $280.00 and set an “overweight” rating on the stock in a report on Thursday, July 30th. Oppenheimer increased their price objective on Modine Manufacturing from $271.00 to $325.00 and gave the company an “outperform” rating in a report on Thursday, May 28th. Finally, Wall Street Zen lowered shares of Modine Manufacturing from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. Seven research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, Modine Manufacturing presently has a consensus rating of “Moderate Buy” and an average target price of $320.14.

Insider Buying and Selling

In other news, insider Eric S. Mcginnis sold 1,020 shares of the company’s stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $295.06, for a total transaction of $300,961.20. Following the completion of the transaction, the insider owned 28,364 shares in the company, valued at approximately $8,369,081.84. This represents a 3.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Brian Jon Agen sold 38,282 shares of the firm’s stock in a transaction that occurred on 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 approximately $19,582,463.31. This 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 three months, insiders sold 54,302 shares of company stock worth $15,928,759. Corporate insiders own 1.92% of the company’s stock.

Modine Manufacturing Stock Up 0.2%

Shares of NYSE MOD opened at $198.03 on Monday. The firm has a market cap of $10.52 billion, a P/E ratio of 74.45, a price-to-earnings-growth ratio of 0.65 and a beta of 1.71. The firm’s 50 day moving average price is $232.44 and its 200 day moving average price is $236.31. Modine Manufacturing Company has a 1 year low of $111.18 and a 1 year high of $323.25. 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 announced 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 company had revenue of $874.10 million during the quarter, compared to analyst estimates of $878.69 million. Modine Manufacturing had a return on equity of 25.59% and a net margin of 4.28%.The firm’s revenue was up 28.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.95 earnings per share. As a group, sell-side analysts anticipate that Modine Manufacturing Company will post 7.65 earnings per share for the current year.

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.