Hudson Bay Capital Management LP Purchases 66,417 Shares of Modine Manufacturing Company $MOD

Hudson Bay Capital Management LP boosted its position in Modine Manufacturing Company (NYSE:MOD) by 62.1% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 173,417 shares of the auto parts company’s stock after buying an additional 66,417 shares during the quarter. Hudson Bay Capital Management LP owned approximately 0.33% of Modine Manufacturing worth $17,082,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the company. Schear Investment Advisers LLC purchased a new position in shares of Modine Manufacturing during the 2nd quarter valued at $1,547,000. Moody National Bank Trust Division boosted its stake in Modine Manufacturing by 19.5% during the second quarter. Moody National Bank Trust Division now owns 11,530 shares of the auto parts company’s stock valued at $1,136,000 after buying an additional 1,885 shares during the period. Park Avenue Securities LLC purchased a new position in Modine Manufacturing during the second quarter worth about $260,000. F m Investments LLC grew its position in Modine Manufacturing by 12.7% during the second quarter. F m Investments LLC now owns 57,972 shares of the auto parts company’s stock worth $5,710,000 after buying an additional 6,510 shares in the last quarter. Finally, Harbor Capital Advisors Inc. increased its stake in Modine Manufacturing by 28.6% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 182,810 shares of the auto parts company’s stock worth $18,007,000 after acquiring an additional 40,691 shares during the last quarter. Hedge funds and other institutional investors own 95.23% of the company’s stock.

Insider Transactions at Modine Manufacturing

In other Modine Manufacturing news, CEO Neil David Brinker sold 31,871 shares of the business’s stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $160.56, for a total value of $5,117,207.76. Following the completion of the sale, the chief executive officer owned 238,312 shares in the company, valued at approximately $38,263,374.72. The trade was a 11.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.48% of the stock is currently owned by insiders.

Modine Manufacturing Trading Down 15.6%

Shares of MOD opened at $139.43 on Monday. Modine Manufacturing Company has a fifty-two week low of $64.79 and a fifty-two week high of $166.94. The firm has a market cap of $7.34 billion, a price-to-earnings ratio of 40.30, a PEG ratio of 0.89 and a beta of 1.69. The firm has a 50 day moving average price of $152.34 and a 200-day moving average price of $131.27. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.16 and a current ratio of 2.00.

Modine Manufacturing (NYSE:MOD) last released its earnings results on Tuesday, October 28th. The auto parts company reported $1.06 EPS for the quarter, beating the consensus estimate of $0.97 by $0.09. The company had revenue of $738.90 million for the quarter, compared to analyst estimates of $699.91 million. Modine Manufacturing had a net margin of 6.93% and a return on equity of 23.19%. The firm’s quarterly revenue was up 12.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.97 EPS. As a group, equities research analysts forecast that Modine Manufacturing Company will post 3.88 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have recently commented on MOD. Weiss Ratings reissued a “hold (c)” rating on shares of Modine Manufacturing in a report on Monday, December 8th. UBS Group initiated coverage on shares of Modine Manufacturing in a research report on Thursday, November 20th. They set a “buy” rating and a $173.00 target price for the company. DA Davidson reissued a “buy” rating and issued a $200.00 price target on shares of Modine Manufacturing in a research note on Wednesday, November 19th. Oppenheimer raised their price objective on shares of Modine Manufacturing from $145.00 to $180.00 and gave the company an “outperform” rating in a research report on Tuesday, October 14th. Finally, KeyCorp upped their target price on shares of Modine Manufacturing from $160.00 to $175.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 14th. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $182.00.

Modine Manufacturing Company Profile

Modine Manufacturing Company provides thermal management products and solutions in the United States, Italy, Hungary, China, the United Kingdom, and internationally. It operates through Climate Solutions and Performance Technologies segments. The company offers heat transfer coils, including heat recovery and round tube plate fin coils; gas-fired, hydronic, electric and oilfired unit heaters; roof-mounted direct- and indirect-fired makeup air units; duct furnaces; infrared units; perimeter heating products; single packaged unit ventilators; modular chillers; air handler and condensing units; ceiling cassettes; evaporator unit coolers, remote condensers, fluid coolers, gas coolers, and dry and brine coolers; and motor and generator cooling coils, transformer oil coolers, radiators, dryers, and industrial heat exchangers.