Modine Manufacturing Company $MOD Position Trimmed by Rhumbline Advisers

Rhumbline Advisers trimmed its stake in Modine Manufacturing Company (NYSE:MOD) by 2.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 83,480 shares of the auto parts company’s stock after selling 2,492 shares during the quarter. Rhumbline Advisers owned 0.16% of Modine Manufacturing worth $11,868,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. Parkside Financial Bank & Trust increased its stake in Modine Manufacturing by 17.6% in the 3rd quarter. Parkside Financial Bank & Trust now owns 500 shares of the auto parts company’s stock valued at $71,000 after buying an additional 75 shares during the period. Handelsbanken Fonder AB grew its holdings in shares of Modine Manufacturing by 0.8% during the 2nd quarter. Handelsbanken Fonder AB now owns 13,100 shares of the auto parts company’s stock valued at $1,290,000 after acquiring an additional 100 shares in the last quarter. BCS Private Wealth Management Inc. increased its stake in shares of Modine Manufacturing by 2.8% in the third quarter. BCS Private Wealth Management Inc. now owns 4,525 shares of the auto parts company’s stock worth $643,000 after acquiring an additional 125 shares during the last quarter. Vanguard Personalized Indexing Management LLC increased its stake in shares of Modine Manufacturing by 3.7% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 4,602 shares of the auto parts company’s stock worth $453,000 after acquiring an additional 165 shares during the last quarter. Finally, Arizona State Retirement System raised its holdings in shares of Modine Manufacturing by 1.2% during the third quarter. Arizona State Retirement System now owns 14,752 shares of the auto parts company’s stock worth $2,097,000 after acquiring an additional 176 shares in the last quarter. 95.23% of the stock is currently owned by institutional investors and hedge funds.

Modine Manufacturing Stock Up 0.7%

MOD stock opened at $219.09 on Friday. The stock has a market capitalization of $11.55 billion, a price-to-earnings ratio of 121.72, a price-to-earnings-growth ratio of 1.33 and a beta of 1.71. The company has a 50-day moving average of $159.15 and a two-hundred day moving average of $151.52. Modine Manufacturing Company has a 52-week low of $64.79 and a 52-week high of $235.02. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.19 and a quick ratio of 1.28.

Modine Manufacturing (NYSE:MOD) last posted its quarterly earnings data on Wednesday, February 4th. The auto parts company reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.20. Modine Manufacturing had a return on equity of 22.99% and a net margin of 3.40%.The business had revenue of $805.00 million for the quarter, compared to analyst estimates of $763.54 million. During the same period in the previous year, the company posted $0.92 earnings per share. The firm’s revenue for the quarter was up 30.5% on a year-over-year basis. As a group, equities research analysts anticipate that Modine Manufacturing Company will post 3.88 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Zacks Research upgraded Modine Manufacturing from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 30th. Oppenheimer boosted their price target on Modine Manufacturing from $220.00 to $240.00 and gave the company an “outperform” rating in a research note on Friday, February 6th. Wall Street Zen upgraded Modine Manufacturing from a “hold” rating to a “buy” rating in a report on Saturday, February 14th. DA Davidson lifted their target price on shares of Modine Manufacturing from $255.00 to $265.00 and gave the company a “buy” rating in a research note on Monday, February 9th. Finally, UBS Group initiated coverage on Modine Manufacturing in a research note on Thursday, November 20th. They set a “buy” rating and a $173.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $223.20.

Insider Buying and Selling at Modine Manufacturing

In related news, CEO Neil David Brinker sold 31,871 shares of the business’s stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $160.56, for a total transaction of $5,117,207.76. Following the transaction, the chief executive officer owned 238,312 shares of the company’s stock, valued at approximately $38,263,374.72. The trade was a 11.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Suresh V. Garimella sold 1,100 shares of the firm’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $184.07, for a total transaction of $202,477.00. Following the completion of the sale, the director owned 79,856 shares in the company, valued at $14,699,093.92. This represents a 1.36% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 34,071 shares of company stock worth $5,484,685. 2.48% of the stock is currently owned by corporate insiders.

Modine Manufacturing Profile

Modine Manufacturing Company (NYSE:MOD) is a global provider of thermal management solutions serving automotive, commercial transportation, heavy-duty off-highway, industrial, HVAC and refrigeration markets. The company designs, manufactures, tests and markets a broad array of heat-transfer products that manage temperature and energy efficiency for engines, power electronics and building climate control systems.

Its product portfolio includes heat exchangers, condensers, radiators, evaporators, charge air coolers, fan systems and associated controls.