Modine Manufacturing Company $MOD Stock Holdings Lessened by Paradigm Capital Management Inc. NY

Paradigm Capital Management Inc. NY reduced its position in Modine Manufacturing Company (NYSE:MOD) by 1.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,455,598 shares of the auto parts company’s stock after selling 20,700 shares during the quarter. Modine Manufacturing comprises about 12.1% of Paradigm Capital Management Inc. NY’s holdings, making the stock its biggest holding. Paradigm Capital Management Inc. NY’s holdings in Modine Manufacturing were worth $315,443,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of MOD. Wellington Management Group LLP increased its holdings in Modine Manufacturing by 4.7% during the 4th quarter. Wellington Management Group LLP now owns 2,879,299 shares of the auto parts company’s stock worth $384,415,000 after acquiring an additional 130,511 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in Modine Manufacturing by 31.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,333,174 shares of the auto parts company’s stock worth $311,503,000 after purchasing an additional 560,131 shares in the last quarter. Wasatch Advisors LP boosted its holdings in Modine Manufacturing by 1.4% in the 2nd quarter. Wasatch Advisors LP now owns 1,792,413 shares of the auto parts company’s stock valued at $176,553,000 after purchasing an additional 23,955 shares during the period. Capital Research Global Investors boosted its holdings in Modine Manufacturing by 13.8% in the 4th quarter. Capital Research Global Investors now owns 1,478,224 shares of the auto parts company’s stock valued at $197,358,000 after purchasing an additional 179,617 shares during the period. Finally, Invesco Ltd. grew its position in shares of Modine Manufacturing by 120.4% during the 4th quarter. Invesco Ltd. now owns 1,318,529 shares of the auto parts company’s stock valued at $176,037,000 after purchasing an additional 720,389 shares in the last quarter. Hedge funds and other institutional investors own 95.23% of the company’s stock.

Analysts Set New Price Targets

MOD has been the topic of several research analyst reports. Oppenheimer upped their price target on shares of Modine Manufacturing from $271.00 to $325.00 and gave the stock an “outperform” rating in a report on Thursday, May 28th. Zacks Research lowered Modine Manufacturing from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 13th. B. Riley Financial lifted their price objective on Modine Manufacturing from $250.00 to $264.00 and gave the company a “buy” rating in a research note on Tuesday, May 26th. UBS Group boosted their target price on Modine Manufacturing to $310.00 and gave the stock a “buy” rating in a research report on Wednesday, May 27th. Finally, Weiss Ratings raised Modine Manufacturing from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, May 28th. Seven investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, Modine Manufacturing currently has a consensus rating of “Moderate Buy” and an average target price of $327.14.

Insider Activity at Modine Manufacturing

In other Modine Manufacturing news, VP Brian Jon Agen sold 38,282 shares of Modine Manufacturing stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $295.17, for a total transaction of $11,299,697.94. Following the completion of the sale, the vice president owned 66,343 shares of the company’s stock, valued at $19,582,463.31. The trade was a 36.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Eric D. Ashleman sold 15,000 shares of the company’s stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $288.54, for a total value of $4,328,100.00. Following the completion of the transaction, the director owned 42,350 shares of the company’s stock, valued at $12,219,669. The trade was a 26.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 54,302 shares of company stock valued at $15,928,759 over the last 90 days. 1.92% of the stock is owned by insiders.

Modine Manufacturing Price Performance

Shares of NYSE:MOD opened at $241.46 on Friday. The company’s fifty day moving average price is $262.07 and its 200-day moving average price is $227.62. The firm has a market capitalization of $12.82 billion, a price-to-earnings ratio of 107.80, a PEG ratio of 0.81 and a beta of 1.67. Modine Manufacturing Company has a one year low of $98.90 and a one year high of $323.25. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.94 and a quick ratio of 1.25.

Modine Manufacturing (NYSE:MOD) last posted its quarterly earnings data on Tuesday, May 26th. The auto parts company reported $1.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.51 by $0.20. Modine Manufacturing had a net margin of 3.82% and a return on equity of 24.39%. The company had revenue of $954.40 million during the quarter, compared to the consensus estimate of $920.67 million. During the same period in the previous year, the firm posted $1.12 EPS. The firm’s revenue was up 47.5% compared to the same quarter last year. On average, equities research analysts anticipate that Modine Manufacturing Company will post 7.72 earnings per share for the current fiscal year.

About Modine Manufacturing

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.