Entropy Technologies LP Purchases 7,961 Shares of Modine Manufacturing Company $MOD

Entropy Technologies LP lifted its position in Modine Manufacturing Company (NYSE:MOD) by 347.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,250 shares of the auto parts company’s stock after purchasing an additional 7,961 shares during the quarter. Entropy Technologies LP’s holdings in Modine Manufacturing were worth $2,221,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Modine Manufacturing by 26.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,223 shares of the auto parts company’s stock worth $2,857,000 after buying an additional 7,831 shares in the last quarter. California Public Employees Retirement System raised its stake in shares of Modine Manufacturing by 8.3% during the second quarter. California Public Employees Retirement System now owns 68,702 shares of the auto parts company’s stock worth $6,767,000 after acquiring an additional 5,244 shares in the last quarter. State Street Corp raised its stake in shares of Modine Manufacturing by 4.2% during the second quarter. State Street Corp now owns 1,309,488 shares of the auto parts company’s stock worth $128,985,000 after acquiring an additional 53,351 shares in the last quarter. Qube Research & Technologies Ltd lifted its holdings in shares of Modine Manufacturing by 106.3% in the 2nd quarter. Qube Research & Technologies Ltd now owns 161,319 shares of the auto parts company’s stock worth $15,890,000 after acquiring an additional 83,105 shares during the last quarter. Finally, Sei Investments Co. lifted its holdings in shares of Modine Manufacturing by 70.8% in the 2nd quarter. Sei Investments Co. now owns 309,653 shares of the auto parts company’s stock worth $30,501,000 after acquiring an additional 128,348 shares during the last quarter. 95.23% of the stock is currently owned by institutional investors.

Modine Manufacturing Trading Down 0.1%

Shares of MOD opened at $241.46 on Monday. The stock has a market capitalization of $12.82 billion, a P/E ratio of 107.80, a PEG ratio of 0.78 and a beta of 1.67. The company has a quick ratio of 1.25, a current ratio of 1.94 and a debt-to-equity ratio of 0.32. The firm has a fifty day simple moving average of $262.07 and a two-hundred day simple moving average of $228.23. Modine Manufacturing Company has a twelve month low of $98.90 and a twelve month high of $323.25.

Modine Manufacturing (NYSE:MOD) last announced its quarterly earnings results 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. The business had revenue of $954.40 million for the quarter, compared to analyst estimates of $920.67 million. Modine Manufacturing had a net margin of 3.82% and a return on equity of 24.39%. The company’s revenue was up 47.5% on a year-over-year basis. During the same quarter last year, the firm earned $1.12 EPS. On average, research analysts anticipate that Modine Manufacturing Company will post 7.72 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on MOD. Wall Street Zen cut shares of Modine Manufacturing from a “buy” rating to a “hold” rating in a research note on Saturday. B. Riley Financial raised 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. Oppenheimer boosted their target price on Modine Manufacturing from $271.00 to $325.00 and gave the company an “outperform” rating in a research note on Thursday, May 28th. Zacks Research cut Modine Manufacturing from a “strong-buy” rating to a “hold” rating in a report on Monday, April 13th. Finally, DA Davidson restated a “buy” rating and set a $330.00 price target on shares of Modine Manufacturing in a research report on Monday, June 22nd. Seven investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Modine Manufacturing presently has an average rating of “Moderate Buy” and a consensus target price of $327.14.

Insider Buying and Selling

In other Modine Manufacturing news, VP Brian Jon Agen sold 38,282 shares of the company’s 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 completion of the transaction, the vice president owned 66,343 shares of the company’s stock, valued at $19,582,463.31. This represents a 36.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Eric S. Mcginnis sold 1,020 shares of the stock in a transaction that occurred on Thursday, June 18th. The stock was 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 trade represents a 3.47% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 54,302 shares of company stock valued at $15,928,759 over the last ninety days. 1.92% of the stock is owned by insiders.

Modine Manufacturing Company 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.