Modine posts 28% revenue jump as Sone Capital buys new $4.9M stake
What's the deal? Sone Capital Management LLCDealroom has a profile for this one. Try Dealroom → bought a new stake in Modine Manufacturing CompanyDealroom has a profile for this one. Try Dealroom → (NYSE:MOD) during the second quarter, purchasing 18,301 shares worth about $4,887,000, according to Holdings Channel. The move comes as the auto parts maker reported quarterly revenue of $874.10 million, up 28% year-over-year.
What's behind the numbers? ModineDealroom has a profile for this one. Try Dealroom → posted $1.53 earnings per share for the quarter ended July 29, beating the consensus estimate of $1.27 by $0.26 and up from $0.95 a year earlier. Revenue narrowly missed analyst estimates of $878.69 million. The company logged a net margin of 4.28% and a return on equity of 25.59%.
The bigger picture: Modine carries a market cap of $10.01 billion, a PE ratio of 70.86, and a debt-to-equity ratio of 0.39. The stock opened at $188.48 on Tuesday — well below its 52-week high of $323.25 and its 200-day moving average of $236.23.
Who else is buying? Several other funds recently opened positions, though far smaller: V Square Quantitative ManagementDealroom has a profile for this one. Try Dealroom → and Kemnay Advisory ServicesDealroom has a profile for this one. Try Dealroom → each added roughly $25,000, while Danske BankDealroom has a profile for this one. Try Dealroom → took a $43,000 stake. Institutional investors own 95.23% of the company's stock.
What are analysts saying? The stock holds a consensus "Moderate Buy" rating and an average price target of $320.14, with seven Buy ratings and two Holds. Views diverged in recent notes: OppenheimerDealroom has a profile for this one. Try Dealroom → lifted its target to $325.00 with an "outperform" rating, while KeyCorpDealroom has a profile for this one. Try Dealroom → cut its target from $370.00 to $280.00, and Wall Street ZenDealroom has a profile for this one. Try Dealroom → downgraded the stock to "hold."
The signal: Sone Capital's entry, alongside a wave of smaller institutional bets, points to continued interest in Modine even as its shares trade well off their highs. With analysts split on where the stock goes next, the 28% revenue growth gives bulls a case — but the near-70 PE ratio leaves little room for error.
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