Van Berkom & Associates Inc. Decreases Stake in Modine Manufacturing Company $MOD

Van Berkom & Associates Inc. lessened its position in shares of Modine Manufacturing Company (NYSE:MOD) by 16.1% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 365,694 shares of the auto parts company’s stock after selling 70,390 shares during the period. Modine Manufacturing comprises 2.6% of Van Berkom & Associates Inc.’s investment portfolio, making the stock its 13th biggest holding. Van Berkom & Associates Inc.’s holdings in Modine Manufacturing were worth $79,250,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. V Square Quantitative Management LLC acquired a new stake in shares of Modine Manufacturing in the 1st quarter valued at $25,000. Kemnay Advisory Services Inc. purchased a new stake in shares of Modine Manufacturing during the 4th quarter worth $25,000. Spire Wealth Management acquired a new position in shares of Modine Manufacturing during the fourth quarter worth $27,000. Sunbelt Securities Inc. purchased a new position in Modine Manufacturing in the third quarter valued at $39,000. Finally, Danske Bank A S purchased a new position in Modine Manufacturing in the third quarter valued at $43,000. 95.23% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on MOD shares. Zacks Research downgraded Modine Manufacturing from a “strong-buy” rating to a “hold” rating in a report on Monday, April 13th. Weiss Ratings upgraded Modine Manufacturing from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, May 28th. UBS Group raised their target price on Modine Manufacturing to $310.00 and gave the stock a “buy” rating in a research report on Wednesday, May 27th. Wall Street Zen upgraded Modine Manufacturing from a “hold” rating to a “buy” rating in a research note on Saturday, May 30th. Finally, KeyCorp upped their price target on Modine Manufacturing from $250.00 to $370.00 and gave the company an “overweight” rating in a report on Wednesday, May 27th. Seven investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $327.14.

Insider Buying and Selling

In other Modine Manufacturing news, insider Eric S. Mcginnis sold 1,020 shares of Modine Manufacturing stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $295.06, for a total transaction of $300,961.20. Following the transaction, the insider owned 28,364 shares of the company’s stock, valued at $8,369,081.84. The trade was a 3.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Eric D. Ashleman sold 15,000 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $12,219,669. This represents a 26.16% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 54,302 shares of company stock worth $15,928,759 in the last quarter. 2.48% of the stock is owned by insiders.

Modine Manufacturing Price Performance

Shares of NYSE:MOD opened at $229.31 on Monday. Modine Manufacturing Company has a 12 month low of $90.41 and a 12 month high of $323.25. The firm has a market capitalization of $12.18 billion, a P/E ratio of 102.37, a P/E/G ratio of 0.74 and a beta of 1.67. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.94 and a quick ratio of 1.25. The company’s fifty day moving average price is $265.89 and its 200 day moving average price is $224.48.

Modine Manufacturing (NYSE:MOD) last issued its quarterly earnings data on Tuesday, May 26th. The auto parts company reported $1.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.51 by $0.20. Modine Manufacturing had a return on equity of 24.39% and a net margin of 3.82%.The company had revenue of $954.40 million for the quarter, compared to analyst estimates of $920.67 million. During the same quarter last year, the company posted $1.12 earnings per share. The business’s quarterly revenue was up 47.5% compared to the same quarter last year. As a group, sell-side analysts predict that Modine Manufacturing Company will post 7.72 earnings per share for the current fiscal 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.