Thoroughbred Financial Services LLC Grows Position in Modine Manufacturing (NYSE:MOD)

Thoroughbred Financial Services LLC grew its stake in shares of Modine Manufacturing (NYSE:MOD) by 10.9% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 50,086 shares of the auto parts company’s stock after buying an additional 4,942 shares during the period. Thoroughbred Financial Services LLC owned 0.10% of Modine Manufacturing worth $5,018,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of MOD. Vanguard Group Inc. increased its position in Modine Manufacturing by 27.3% during the first quarter. Vanguard Group Inc. now owns 3,909,016 shares of the auto parts company’s stock worth $372,099,000 after buying an additional 838,460 shares in the last quarter. Hennessy Advisors Inc. purchased a new stake in shares of Modine Manufacturing in the fourth quarter valued at $35,414,000. Capital International Investors grew its position in shares of Modine Manufacturing by 40.6% in the first quarter. Capital International Investors now owns 1,425,845 shares of the auto parts company’s stock valued at $135,726,000 after purchasing an additional 411,946 shares during the period. Emerald Advisers LLC purchased a new stake in shares of Modine Manufacturing in the second quarter valued at $26,064,000. Finally, F M Investments LLC purchased a new stake in shares of Modine Manufacturing in the second quarter valued at $22,600,000. Hedge funds and other institutional investors own 95.23% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on MOD shares. DA Davidson lifted their price objective on Modine Manufacturing from $120.00 to $140.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. B. Riley lifted their price objective on Modine Manufacturing from $125.00 to $140.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. William Blair started coverage on Modine Manufacturing in a research report on Monday, July 29th. They issued an “outperform” rating for the company. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $135.00 price objective on shares of Modine Manufacturing in a research report on Thursday. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Modine Manufacturing currently has an average rating of “Moderate Buy” and an average target price of $138.33.

Insider Buying and Selling at Modine Manufacturing

In other Modine Manufacturing news, Director Marsha C. Williams sold 34,400 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $109.74, for a total transaction of $3,775,056.00. Following the transaction, the director now owns 144,038 shares in the company, valued at $15,806,730.12. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 2.40% of the stock is owned by company insiders.

Modine Manufacturing Price Performance

MOD stock opened at $111.13 on Friday. The stock has a 50-day moving average price of $107.64 and a two-hundred day moving average price of $99.68. Modine Manufacturing has a 12-month low of $38.50 and a 12-month high of $123.92. The company has a current ratio of 1.80, a quick ratio of 1.11 and a debt-to-equity ratio of 0.51. The company has a market cap of $5.82 billion, a PE ratio of 36.68, a price-to-earnings-growth ratio of 0.83 and a beta of 2.22.

Modine Manufacturing (NYSE:MOD) last posted its quarterly earnings results on Tuesday, July 30th. The auto parts company reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.86 by $0.18. Modine Manufacturing had a return on equity of 24.92% and a net margin of 6.70%. The firm had revenue of $661.50 million during the quarter, compared to the consensus estimate of $633.55 million. During the same quarter in the previous year, the business earned $0.85 earnings per share. The firm’s quarterly revenue was up 6.3% compared to the same quarter last year. As a group, research analysts predict that Modine Manufacturing will post 3.85 EPS for the current year.

Modine Manufacturing Company Profile

Modine Manufacturing Company provides engineered heat transfer systems and heat transfer components for use in on- and off-highway original equipment manufacturer (OEM) vehicular applications. It operates through Climate Solutions and Performance Technologies segments. The company offers gas-fired, hydronic, electric, and oil-fired unit heaters; indoor and outdoor duct furnaces; infrared units; perimeter heating products, such as commercial fin-tube radiation, cabinet unit heaters, and convectors; roof-mounted direct- and indirect-fired makeup air units; unit ventilators; single packaged vertical units; precision air conditioning units for data center applications; air handler units; fan walls; chillers; ceiling cassettes; hybrid fan coils; and condensers and condensing units.