23,975 Shares in Modine Manufacturing Company $MOD Acquired by Lisanti Capital Growth LLC

Lisanti Capital Growth LLC purchased a new position in shares of Modine Manufacturing Company (NYSE:MOD) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 23,975 shares of the auto parts company’s stock, valued at approximately $6,402,000. Modine Manufacturing makes up 1.4% of Lisanti Capital Growth LLC’s portfolio, making the stock its 23rd largest position.

Other large investors also recently modified their holdings of the company. Lazard Asset Management LLC purchased a new stake in shares of Modine Manufacturing during the 1st quarter worth $1,722,000. Ranger Investment Management L.P. purchased a new position in Modine Manufacturing in the first quarter valued at $15,557,000. Allspring Global Investments Holdings LLC lifted its holdings in Modine Manufacturing by 253.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 306,005 shares of the auto parts company’s stock worth $68,230,000 after buying an additional 219,373 shares during the last quarter. DUTCH ASSET Corp lifted its holdings in Modine Manufacturing by 122.2% during the 1st quarter. DUTCH ASSET Corp now owns 18,709 shares of the auto parts company’s stock worth $4,055,000 after buying an additional 10,290 shares during the last quarter. Finally, Van Berkom & Associates Inc. boosted its position in shares of Modine Manufacturing by 3,145.2% during the 4th quarter. Van Berkom & Associates Inc. now owns 436,084 shares of the auto parts company’s stock worth $58,222,000 after acquiring an additional 422,646 shares in the last quarter. 95.23% of the stock is owned by hedge funds and other institutional investors.

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 that occurred on 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 transaction, 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 transaction was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Eric S. Mcginnis sold 1,020 shares of the business’s stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $295.06, for a total value of $300,961.20. Following the completion of the sale, the insider owned 28,364 shares of the company’s stock, valued at approximately $8,369,081.84. This represents a 3.47% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 54,302 shares of company stock valued at $15,928,759 in the last three months. 1.92% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on MOD. DA Davidson reiterated a “buy” rating and issued a $330.00 price objective on shares of Modine Manufacturing in a report on Monday, June 22nd. Wall Street Zen cut Modine Manufacturing from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. B. Riley Financial reaffirmed a “buy” rating and issued a $305.00 price target (down from $340.00) on shares of Modine Manufacturing in a report on Thursday, July 30th. KeyCorp dropped their price target on shares of Modine Manufacturing from $370.00 to $280.00 and set an “overweight” rating on the stock in a research note on Thursday, July 30th. Finally, Oppenheimer raised their price objective 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. Seven investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $320.14.

Modine Manufacturing Stock Performance

NYSE MOD opened at $194.59 on Thursday. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.04 and a quick ratio of 1.22. Modine Manufacturing Company has a 1 year low of $111.18 and a 1 year high of $323.25. The company has a market capitalization of $10.33 billion, a PE ratio of 73.16, a P/E/G ratio of 0.66 and a beta of 1.71. The company has a fifty day moving average of $235.59 and a two-hundred day moving average of $236.26.

Modine Manufacturing (NYSE:MOD) last posted its earnings results on Tuesday, July 28th. The auto parts company reported $1.53 EPS for the quarter, topping analysts’ consensus estimates of $1.27 by $0.26. Modine Manufacturing had a return on equity of 25.59% and a net margin of 4.28%.The business had revenue of $874.10 million for the quarter, compared to analysts’ expectations of $878.69 million. During the same quarter in the previous year, the firm earned $0.95 earnings per share. The business’s revenue was up 28.0% compared to the same quarter last year. As a group, analysts expect that Modine Manufacturing Company will post 7.65 earnings per share for the current 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.