Kornitzer Capital Management Inc. KS Has $5.23 Million Stock Position in Modine Manufacturing Company $MOD

Kornitzer Capital Management Inc. KS lowered its position in Modine Manufacturing Company (NYSE:MOD) by 57.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 24,140 shares of the auto parts company’s stock after selling 33,230 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Modine Manufacturing were worth $5,231,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC bought a new stake in Modine Manufacturing during the 1st quarter worth approximately $25,000. Kemnay Advisory Services Inc. bought a new position in shares of Modine Manufacturing in the fourth quarter valued at approximately $25,000. Spire Wealth Management purchased a new position in shares of Modine Manufacturing during the fourth quarter valued at approximately $27,000. Sunbelt Securities Inc. purchased a new position in shares of Modine Manufacturing during the third quarter valued at approximately $39,000. Finally, Danske Bank A S bought a new stake in Modine Manufacturing during the third quarter worth $43,000. Institutional investors and hedge funds own 95.23% of the company’s stock.

Insider Transactions 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 stock was sold at an average price of $295.06, for a total value of $300,961.20. Following the completion of the sale, the insider directly owned 28,364 shares of the company’s stock, valued at $8,369,081.84. This trade represents a 3.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Eric D. Ashleman sold 15,000 shares of the business’s stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $288.54, for a total value of $4,328,100.00. Following the completion of the sale, the director owned 42,350 shares in the company, valued at approximately $12,219,669. The trade was a 26.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 54,302 shares of company stock worth $15,928,759 in the last quarter. Insiders own 2.48% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Oppenheimer increased their price target on Modine Manufacturing from $271.00 to $325.00 and gave the company an “outperform” rating in a research report on Thursday, May 28th. DA Davidson reaffirmed a “buy” rating and set a $330.00 price objective on shares of Modine Manufacturing in a report on Monday, June 22nd. UBS Group upped their target price on shares of Modine Manufacturing to $310.00 and gave the stock a “buy” rating in a research note on Wednesday, May 27th. B. Riley Financial increased their target price on shares of Modine Manufacturing from $250.00 to $264.00 and gave the company a “buy” rating in a report on Tuesday, May 26th. Finally, Glj Research reissued a “buy” rating and set a $428.00 price target on shares of Modine Manufacturing in a research report on Monday, June 1st. Seven analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $327.14.

Modine Manufacturing Stock Performance

MOD traded up $2.91 during trading on Friday, hitting $246.41. 923,925 shares of the company traded hands, compared to its average volume of 1,695,033. Modine Manufacturing Company has a one year low of $88.48 and a one year high of $323.25. The stock’s fifty day moving average is $269.77 and its 200 day moving average is $220.62. The company has a quick ratio of 1.25, a current ratio of 1.94 and a debt-to-equity ratio of 0.32. The firm has a market cap of $13.02 billion, a P/E ratio of 110.01, a price-to-earnings-growth ratio of 0.80 and a beta of 1.67.

Modine Manufacturing (NYSE:MOD) last announced its quarterly earnings data on Tuesday, May 26th. The auto parts company reported $1.71 EPS for the quarter, topping the consensus estimate of $1.51 by $0.20. The business had revenue of $954.40 million for the quarter, compared to analyst estimates of $920.67 million. Modine Manufacturing had a net margin of 3.82% and a return on equity of 24.39%. The company’s revenue for the quarter was up 47.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.12 earnings per share. As a group, equities analysts predict that Modine Manufacturing Company will post 7.73 EPS for the current fiscal 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.