Tidal Investments LLC Acquires 54,960 Shares of Modine Manufacturing Company $MOD

Tidal Investments LLC boosted its stake in shares of Modine Manufacturing Company (NYSE:MOD) by 52.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 159,453 shares of the auto parts company’s stock after acquiring an additional 54,960 shares during the quarter. Tidal Investments LLC owned 0.30% of Modine Manufacturing worth $42,577,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of MOD. Optiver Holding B.V. raised its holdings in shares of Modine Manufacturing by 19.7% during the first quarter. Optiver Holding B.V. now owns 237 shares of the auto parts company’s stock valued at $51,000 after acquiring an additional 39 shares in the last quarter. Arizona State Retirement System boosted its stake in Modine Manufacturing by 0.4% during the second quarter. Arizona State Retirement System now owns 13,823 shares of the auto parts company’s stock worth $3,691,000 after acquiring an additional 52 shares in the last quarter. World Investment Advisors boosted its position in shares of Modine Manufacturing by 4.1% in the 1st quarter. World Investment Advisors now owns 1,643 shares of the auto parts company’s stock worth $356,000 after purchasing an additional 65 shares in the last quarter. Xponance LLC grew its stake in shares of Modine Manufacturing by 1.7% in the fourth quarter. Xponance LLC now owns 4,424 shares of the auto parts company’s stock worth $591,000 after acquiring an additional 75 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its position in Modine Manufacturing by 6.1% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,780 shares of the auto parts company’s stock valued at $386,000 after purchasing an additional 103 shares during the last quarter. 95.23% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, VP Brian Agen sold 38,282 shares of the business’s stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $295.17, for a total value of $11,299,697.94. Following the completion of the sale, the vice president owned 66,343 shares in the company, valued at approximately $19,582,463.31. The trade was a 36.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through 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 stock was sold at an average price of $295.06, for a total transaction of $300,961.20. Following the completion of the transaction, 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 position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 54,302 shares of company stock worth $15,928,759 in the last ninety days. 1.92% of the stock is owned by company insiders.

Modine Manufacturing Price Performance

MOD stock opened at $186.59 on Thursday. The stock has a market cap of $9.91 billion, a PE ratio of 70.15, a P/E/G ratio of 0.63 and a beta of 1.74. The company has a 50-day moving average price of $208.82 and a 200 day moving average price of $233.79. Modine Manufacturing Company has a 12 month low of $111.18 and a 12 month high of $323.25. The company has a current ratio of 2.04, a quick ratio of 1.22 and a debt-to-equity ratio of 0.39.

Modine Manufacturing (NYSE:MOD) last issued its earnings results on Wednesday, July 29th. The auto parts company reported $1.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.27 by $0.26. Modine Manufacturing had a net margin of 4.28% and a return on equity of 25.59%. The firm had revenue of $874.10 million during the quarter, compared to analyst estimates of $878.69 million. During the same period in the previous year, the firm earned $0.95 earnings per share. The business’s revenue was up 28.0% on a year-over-year basis. Equities research analysts anticipate that Modine Manufacturing Company will post 7.65 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have commented on MOD shares. KeyCorp reissued an “overweight” rating and issued a $280.00 target price on shares of Modine Manufacturing in a report on Wednesday, September 2nd. Weiss Ratings reiterated a “hold (c)” rating on shares of Modine Manufacturing in a research report on Tuesday, August 25th. Wall Street Zen downgraded Modine Manufacturing from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. Glj Research restated a “buy” rating and set a $428.00 target price on shares of Modine Manufacturing in a research note on Monday, June 1st. Finally, B. Riley Financial restated a “buy” rating and issued a $305.00 price target (down from $340.00) on shares of Modine Manufacturing in a research note on Thursday, July 30th. Seven equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, Modine Manufacturing currently has an average rating of “Moderate Buy” and an average price target of $320.14.

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.