Qsemble Capital Management LP Makes New Investment in Modine Manufacturing (NYSE:MOD)

Qsemble Capital Management LP purchased a new stake in shares of Modine Manufacturing (NYSE:MOD) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 6,915 shares of the auto parts company’s stock, valued at approximately $693,000.

Several other institutional investors and hedge funds have also recently modified their holdings of MOD. Banque Cantonale Vaudoise boosted its holdings in Modine Manufacturing by 9.8% in the 2nd quarter. Banque Cantonale Vaudoise now owns 1,165 shares of the auto parts company’s stock valued at $117,000 after purchasing an additional 104 shares during the last quarter. Riverwater Partners LLC raised its position in shares of Modine Manufacturing by 0.6% during the 1st quarter. Riverwater Partners LLC now owns 23,633 shares of the auto parts company’s stock valued at $2,250,000 after buying an additional 152 shares during the period. SummerHaven Investment Management LLC lifted its holdings in Modine Manufacturing by 0.7% in the second quarter. SummerHaven Investment Management LLC now owns 21,194 shares of the auto parts company’s stock valued at $2,123,000 after acquiring an additional 155 shares during the last quarter. Horizon Investment Services LLC grew its position in Modine Manufacturing by 4.4% in the first quarter. Horizon Investment Services LLC now owns 4,558 shares of the auto parts company’s stock worth $434,000 after acquiring an additional 191 shares during the period. Finally, Ameritas Advisory Services LLC increased its stake in Modine Manufacturing by 2.9% during the second quarter. Ameritas Advisory Services LLC now owns 7,000 shares of the auto parts company’s stock worth $701,000 after acquiring an additional 200 shares during the last quarter. Institutional investors and hedge funds own 95.23% of the company’s stock.

Insiders Place Their Bets

In other news, Director Marsha C. Williams sold 34,400 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $109.74, for a total transaction of $3,775,056.00. Following the sale, the director now owns 144,038 shares of the company’s stock, valued at $15,806,730.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.40% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. B. Riley upped their price target on Modine Manufacturing from $125.00 to $140.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Oppenheimer reaffirmed an “outperform” rating and issued a $135.00 target price on shares of Modine Manufacturing in a research report on Thursday. William Blair started coverage on shares of Modine Manufacturing in a research report on Monday, July 29th. They set an “outperform” rating for the company. Finally, DA Davidson upped their price objective on shares of Modine Manufacturing from $120.00 to $140.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Modine Manufacturing presently has a consensus rating of “Moderate Buy” and a consensus target price of $138.33.

Modine Manufacturing Price Performance

MOD opened at $111.13 on Friday. The stock’s 50-day moving average price is $107.64 and its 200 day moving average price is $99.68. Modine Manufacturing has a 12-month low of $38.50 and a 12-month high of $123.92. The firm has a market cap of $5.82 billion, a price-to-earnings ratio of 36.68, a PEG ratio of 0.83 and a beta of 2.22. The company has a current ratio of 1.80, a quick ratio of 1.11 and a debt-to-equity ratio of 0.51.

Modine Manufacturing (NYSE:MOD) last issued its quarterly earnings results on Tuesday, July 30th. The auto parts company reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.86 by $0.18. The business had revenue of $661.50 million for the quarter, compared to analysts’ expectations of $633.55 million. Modine Manufacturing had a net margin of 6.70% and a return on equity of 24.92%. The business’s quarterly revenue was up 6.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.85 earnings per share. As a group, sell-side analysts expect that Modine Manufacturing will post 3.85 earnings per share for the current year.

Modine Manufacturing Company Profile

Modine Manufacturing Company provides engineered heat transfer systems and heat transfer components for use in on- and off-highway original equipment manufacturer (OEM) vehicular applications. It operates through Climate Solutions and Performance Technologies segments. The company offers gas-fired, hydronic, electric, and oil-fired unit heaters; indoor and outdoor duct furnaces; infrared units; perimeter heating products, such as commercial fin-tube radiation, cabinet unit heaters, and convectors; roof-mounted direct- and indirect-fired makeup air units; unit ventilators; single packaged vertical units; precision air conditioning units for data center applications; air handler units; fan walls; chillers; ceiling cassettes; hybrid fan coils; and condensers and condensing units.