Aristides Capital LLC Trims Stake in Modine Manufacturing Company $MOD

Aristides Capital LLC lessened its holdings in Modine Manufacturing Company (NYSE:MOD) by 43.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,826 shares of the auto parts company’s stock after selling 2,977 shares during the period. Aristides Capital LLC’s holdings in Modine Manufacturing were worth $829,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Perigon Wealth Management LLC increased its stake in Modine Manufacturing by 583.1% during the fourth quarter. Perigon Wealth Management LLC now owns 15,171 shares of the auto parts company’s stock valued at $2,025,000 after acquiring an additional 12,950 shares during the period. Allspring Global Investments Holdings LLC lifted its position in shares of Modine Manufacturing by 253.2% in 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 acquiring an additional 219,373 shares during the period. Van Berkom & Associates Inc. lifted its position in shares of Modine Manufacturing by 3,145.2% in 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 during the period. WT Asset Management Ltd acquired a new stake in shares of Modine Manufacturing during the 4th quarter worth approximately $69,255,000. Finally, Pier Capital LLC acquired a new stake in shares of Modine Manufacturing during the 4th quarter worth approximately $7,765,000. 95.23% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Modine Manufacturing

In related news, Director Eric D. Ashleman sold 15,000 shares of the 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 transaction, the director directly owned 42,350 shares in the company, valued at $12,219,669. This represents a 26.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Brian Jon Agen sold 38,282 shares of the firm’s stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $295.17, for a total transaction of $11,299,697.94. Following the completion of the transaction, the vice president directly owned 66,343 shares in the company, valued at approximately $19,582,463.31. The trade was a 36.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 54,302 shares of company stock worth $15,928,759 in the last quarter. 1.92% of the stock is owned by company insiders.

Modine Manufacturing Price Performance

MOD opened at $250.01 on Friday. 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 stock has a market capitalization of $13.28 billion, a P/E ratio of 111.61, a price-to-earnings-growth ratio of 0.81 and a beta of 1.67. The company’s 50 day simple moving average is $262.68 and its 200-day simple moving average is $227.52. Modine Manufacturing Company has a one year low of $96.45 and a one year high of $323.25.

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

Analyst Ratings Changes

A number of research firms have weighed in on MOD. B. Riley Financial lifted their price target on shares of Modine Manufacturing from $250.00 to $264.00 and gave the stock a “buy” rating in a research note on Tuesday, May 26th. Wall Street Zen upgraded shares of Modine Manufacturing from a “hold” rating to a “buy” rating in a research note on Saturday, May 30th. 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. Weiss Ratings upgraded shares of Modine Manufacturing from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, May 28th. Finally, DA Davidson reissued a “buy” rating and issued a $330.00 target price on shares of Modine Manufacturing in a research note on Monday, June 22nd. Seven analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $327.14.

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.