Ensign Peak Advisors Inc Acquires 4,695 Shares of Modine Manufacturing (NYSE:MOD)

Ensign Peak Advisors Inc grew its holdings in shares of Modine Manufacturing (NYSE:MOD) by 40.4% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 16,309 shares of the auto parts company’s stock after acquiring an additional 4,695 shares during the period. Ensign Peak Advisors Inc’s holdings in Modine Manufacturing were worth $1,634,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of MOD. Acadian Asset Management LLC bought a new position in Modine Manufacturing during the 1st quarter worth $37,000. Opal Wealth Advisors LLC bought a new position in shares of Modine Manufacturing during the second quarter worth about $51,000. West Oak Capital LLC raised its position in shares of Modine Manufacturing by 300.0% during the second quarter. West Oak Capital LLC now owns 600 shares of the auto parts company’s stock worth $60,000 after acquiring an additional 450 shares during the last quarter. Fifth Third Bancorp acquired a new position in shares of Modine Manufacturing in the second quarter worth approximately $64,000. Finally, DekaBank Deutsche Girozentrale bought a new stake in Modine Manufacturing in the second quarter valued at approximately $68,000. Institutional investors and hedge funds own 95.23% of the company’s stock.

Insider Activity at Modine Manufacturing

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

Analyst Ratings Changes

MOD has been the subject of several analyst reports. B. Riley raised their price target on shares of Modine Manufacturing from $125.00 to $140.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Oppenheimer restated an “outperform” rating and issued a $135.00 target price on shares of Modine Manufacturing in a report on Thursday, September 12th. DA Davidson upped their price target on shares of Modine Manufacturing from $140.00 to $155.00 and gave the company a “buy” rating in a research report on Tuesday, September 24th. Finally, William Blair assumed coverage on Modine Manufacturing in a research report on Monday, July 29th. They issued an “outperform” rating for the company. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $143.33.

Modine Manufacturing Stock Performance

Shares of MOD stock opened at $131.72 on Friday. The company has a quick ratio of 1.11, a current ratio of 1.80 and a debt-to-equity ratio of 0.51. Modine Manufacturing has a 52 week low of $38.50 and a 52 week high of $138.99. The firm has a 50 day moving average of $111.13 and a 200-day moving average of $102.27. The company has a market cap of $6.90 billion, a price-to-earnings ratio of 43.47, a price-to-earnings-growth ratio of 0.97 and a beta of 2.22.

Modine Manufacturing (NYSE:MOD) last posted its quarterly earnings results on Tuesday, July 30th. The auto parts company reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.86 by $0.18. Modine Manufacturing had a net margin of 6.70% and a return on equity of 24.92%. The firm had revenue of $661.50 million during the quarter, compared to the consensus estimate of $633.55 million. During the same period in the previous year, the firm posted $0.85 earnings per share. The business’s revenue was up 6.3% compared to the same quarter last year. On average, equities analysts forecast that Modine Manufacturing will post 3.85 earnings per share for the current year.

About Modine Manufacturing

Modine Manufacturing Company provides thermal management products and solutions in the United States, Italy, Hungary, China, the United Kingdom, and internationally. It operates through Climate Solutions and Performance Technologies segments. The company offers heat transfer coils, including heat recovery and round tube plate fin coils; gas-fired, hydronic, electric and oilfired unit heaters; roof-mounted direct- and indirect-fired makeup air units; duct furnaces; infrared units; perimeter heating products; single packaged unit ventilators; modular chillers; air handler and condensing units; ceiling cassettes; evaporator unit coolers, remote condensers, fluid coolers, gas coolers, and dry and brine coolers; and motor and generator cooling coils, transformer oil coolers, radiators, dryers, and industrial heat exchangers.