Mesirow Financial Investment Management Inc. Sells 2,539 Shares of Modine Manufacturing (NYSE:MOD)

Mesirow Financial Investment Management Inc. cut its stake in shares of Modine Manufacturing (NYSE:MOD) by 46.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,926 shares of the auto parts company’s stock after selling 2,539 shares during the period. Mesirow Financial Investment Management Inc.’s holdings in Modine Manufacturing were worth $389,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Assetmark Inc. boosted its holdings in Modine Manufacturing by 176.5% during the third quarter. Assetmark Inc. now owns 8,894 shares of the auto parts company’s stock worth $1,181,000 after purchasing an additional 5,677 shares during the last quarter. Fiera Capital Corp bought a new position in shares of Modine Manufacturing during the 3rd quarter worth approximately $21,195,000. Principal Financial Group Inc. boosted its stake in shares of Modine Manufacturing by 2.4% in the 3rd quarter. Principal Financial Group Inc. now owns 1,152,735 shares of the auto parts company’s stock worth $153,072,000 after buying an additional 26,527 shares during the last quarter. Walkner Condon Financial Advisors LLC purchased a new position in shares of Modine Manufacturing in the 3rd quarter worth approximately $266,000. Finally, Marks Group Wealth Management Inc bought a new position in shares of Modine Manufacturing in the third quarter valued at approximately $237,000. 95.23% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on MOD shares. B. Riley raised their price objective 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 lifted their price target on shares of Modine Manufacturing from $144.00 to $145.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. William Blair assumed coverage on Modine Manufacturing in a research note on Monday, July 29th. They issued an “outperform” rating on the stock. Finally, DA Davidson raised their target price on Modine Manufacturing from $140.00 to $155.00 and gave the stock a “buy” rating in a research report on Tuesday, September 24th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $146.67.

Modine Manufacturing Price Performance

Shares of Modine Manufacturing stock opened at $132.15 on Tuesday. The firm has a market capitalization of $6.94 billion, a PE ratio of 43.01, a price-to-earnings-growth ratio of 0.98 and a beta of 2.25. The company has a current ratio of 1.77, a quick ratio of 1.09 and a debt-to-equity ratio of 0.41. Modine Manufacturing has a 12 month low of $44.69 and a 12 month high of $141.72. The business’s 50-day moving average price is $123.21 and its 200-day moving average price is $110.02.

Modine Manufacturing (NYSE:MOD) last posted its quarterly earnings results on Tuesday, October 29th. The auto parts company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.05. The business had revenue of $658.00 million for the quarter, compared to analyst estimates of $646.86 million. Modine Manufacturing had a return on equity of 23.96% and a net margin of 6.59%. Modine Manufacturing’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same period last year, the company earned $0.89 EPS. Sell-side analysts forecast that Modine Manufacturing will post 3.83 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Marsha C. Williams sold 34,400 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $109.74, for a total value of $3,775,056.00. Following the completion of the sale, the director now directly owns 144,038 shares of the company’s stock, valued at approximately $15,806,730.12. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 2.40% of the stock is currently owned by insiders.

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.