Koshinski Asset Management Inc. Has $554,000 Stock Position in Modine Manufacturing (NYSE:MOD)
by Danessa Lincoln · The Markets Daily
Koshinski Asset Management Inc. reduced its holdings in Modine Manufacturing (NYSE:MOD – Free Report) by 44.6% in the third quarter, HoldingsChannel reports. The firm owned 12,114 shares of the auto parts company’s stock after selling 9,772 shares during the period. Koshinski Asset Management Inc.’s holdings in Modine Manufacturing were worth $554,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. FNY Investment Advisers LLC bought a new stake in Modine Manufacturing in the third quarter worth approximately $25,000. PNC Financial Services Group Inc. increased its holdings in Modine Manufacturing by 966.7% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,472 shares of the auto parts company’s stock worth $29,000 after purchasing an additional 1,334 shares in the last quarter. Point72 Middle East FZE bought a new stake in Modine Manufacturing in the fourth quarter worth approximately $31,000. Quantbot Technologies LP increased its holdings in Modine Manufacturing by 123.5% in the first quarter. Quantbot Technologies LP now owns 3,800 shares of the auto parts company’s stock worth $34,000 after purchasing an additional 2,100 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its holdings in Modine Manufacturing by 161.3% in the first quarter. Tower Research Capital LLC TRC now owns 1,680 shares of the auto parts company’s stock worth $38,000 after purchasing an additional 1,037 shares in the last quarter. 91.35% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
Several equities research analysts have recently commented on the company. DA Davidson boosted their price objective on Modine Manufacturing from $60.00 to $80.00 and gave the company a “buy” rating in a report on Tuesday. StockNews.com downgraded Modine Manufacturing from a “strong-buy” rating to a “buy” rating in a report on Monday, October 30th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, Modine Manufacturing currently has a consensus rating of “Buy” and a consensus target price of $55.67.
View Our Latest Stock Report on Modine Manufacturing
Modine Manufacturing Trading Up 0.3 %
Shares of Modine Manufacturing stock opened at $60.62 on Thursday. The stock has a fifty day simple moving average of $49.21 and a 200 day simple moving average of $43.88. Modine Manufacturing has a 12-month low of $19.41 and a 12-month high of $61.60. The company has a market capitalization of $3.17 billion, a P/E ratio of 15.66, a price-to-earnings-growth ratio of 0.80 and a beta of 2.27. The company has a current ratio of 1.82, a quick ratio of 1.17 and a debt-to-equity ratio of 0.48.
Modine Manufacturing (NYSE:MOD – Get Free Report) last announced its quarterly earnings results on Wednesday, November 1st. The auto parts company reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.25. Modine Manufacturing had a return on equity of 25.40% and a net margin of 8.50%. The business had revenue of $620.50 million during the quarter, compared to the consensus estimate of $616.18 million. During the same quarter in the prior year, the company posted $0.48 earnings per share. Modine Manufacturing’s revenue was up 7.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Modine Manufacturing will post 3.04 earnings per share for the current fiscal year.
Insider Buying and Selling
In related news, Director Christopher William Patterson sold 6,400 shares of the company’s stock in a transaction on Friday, December 8th. The stock was sold at an average price of $53.04, for a total transaction of $339,456.00. Following the completion of the sale, the director now owns 111,742 shares in the company, valued at $5,926,795.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Modine Manufacturing news, CFO Michael B. Lucareli sold 60,000 shares of the company’s stock in a transaction dated Monday, November 20th. The stock was sold at an average price of $50.29, for a total value of $3,017,400.00. Following the transaction, the chief financial officer now directly owns 214,587 shares in the company, valued at approximately $10,791,580.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Christopher William Patterson sold 6,400 shares of the company’s stock in a transaction dated Friday, December 8th. The stock was sold at an average price of $53.04, for a total value of $339,456.00. Following the completion of the transaction, the director now owns 111,742 shares in the company, valued at $5,926,795.68. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 86,400 shares of company stock worth $4,456,856. 2.86% of the stock is owned by corporate insiders.
About Modine Manufacturing
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.
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