Public Employees Retirement System of Ohio Makes New Investment in Modine Manufacturing Company $MOD

Public Employees Retirement System of Ohio purchased a new stake in Modine Manufacturing Company (NYSE:MOD) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 34,105 shares of the auto parts company’s stock, valued at approximately $9,107,000. Public Employees Retirement System of Ohio owned approximately 0.06% of Modine Manufacturing as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. V Square Quantitative Management LLC purchased a new position in shares of Modine Manufacturing during the first quarter worth about $25,000. Kemnay Advisory Services Inc. purchased a new stake in Modine Manufacturing in the fourth quarter valued at approximately $25,000. Sunbelt Securities Inc. purchased a new stake in Modine Manufacturing in the third quarter valued at approximately $39,000. Rakuten Securities Inc. bought a new stake in Modine Manufacturing during the second quarter valued at approximately $40,000. Finally, PenderFund Capital Management Ltd. bought a new stake in Modine Manufacturing during the second quarter valued at approximately $42,000. Institutional investors own 95.23% of the company’s stock.

Insider Buying and Selling at Modine Manufacturing

In other Modine Manufacturing news, insider Eric S. Mcginnis sold 1,020 shares of the firm’s stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $295.06, for a total value of $300,961.20. Following the sale, the insider owned 28,364 shares of the company’s stock, valued at $8,369,081.84. This trade represents a 3.47% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Eric D. Ashleman sold 15,000 shares of the business’s stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $288.54, for a total transaction of $4,328,100.00. Following the completion of the transaction, the director owned 42,350 shares in the company, valued at $12,219,669. The trade was a 26.16% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 54,302 shares of company stock valued at $15,928,759 in the last quarter. Company insiders own 1.92% of the company’s stock.

Analyst Ratings Changes

MOD has been the topic of a number of research analyst reports. DA Davidson reissued a “buy” rating and issued a $330.00 price target on shares of Modine Manufacturing in a report on Monday, June 22nd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Modine Manufacturing in a report on Tuesday, August 25th. 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. Glj Research reissued a “buy” rating and issued a $428.00 target price on shares of Modine Manufacturing in a research note on Monday, June 1st. Finally, UBS Group raised their price target on Modine Manufacturing to $310.00 and gave the company a “buy” rating in a research report on Wednesday, May 27th. Seven research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $320.14.

Modine Manufacturing Stock Performance

Shares of MOD stock opened at $179.15 on Tuesday. The company has a market capitalization of $9.51 billion, a P/E ratio of 67.35, a PEG ratio of 0.58 and a beta of 1.71. 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 debt-to-equity ratio of 0.39, a quick ratio of 1.22 and a current ratio of 2.04. The stock has a 50 day moving average price of $219.73 and a two-hundred day moving average price of $235.25.

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, topping the consensus estimate of $1.27 by $0.26. Modine Manufacturing had a net margin of 4.28% and a return on equity of 25.59%. The firm had revenue of $874.10 million for the quarter, compared to analysts’ expectations of $878.69 million. During the same quarter last year, the business earned $0.95 earnings per share. The business’s revenue was up 28.0% on a year-over-year basis. Analysts expect that Modine Manufacturing Company will post 7.65 earnings per share for the current year.

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.