Artisan Partners Limited Partnership Has $160.80 Million Stock Holdings in Modine Manufacturing Company $MOD

Artisan Partners Limited Partnership grew its position in shares of Modine Manufacturing Company (NYSE:MOD) by 20.1% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 1,131,110 shares of the auto parts company’s stock after buying an additional 189,331 shares during the quarter. Artisan Partners Limited Partnership’s holdings in Modine Manufacturing were worth $160,799,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Allspring Global Investments Holdings LLC grew its position in shares of Modine Manufacturing by 13.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 84,616 shares of the auto parts company’s stock worth $12,512,000 after purchasing an additional 9,989 shares in the last quarter. Schear Investment Advisers LLC acquired a new stake in shares of Modine Manufacturing in the second quarter valued at approximately $1,547,000. Principal Financial Group Inc. raised its position in shares of Modine Manufacturing by 0.9% in the third quarter. Principal Financial Group Inc. now owns 749,845 shares of the auto parts company’s stock valued at $106,598,000 after buying an additional 6,847 shares in the last quarter. Y Intercept Hong Kong Ltd boosted its stake in shares of Modine Manufacturing by 390.6% in the third quarter. Y Intercept Hong Kong Ltd now owns 16,861 shares of the auto parts company’s stock valued at $2,397,000 after buying an additional 13,424 shares during the period. Finally, Oppenheimer Asset Management Inc. boosted its stake in shares of Modine Manufacturing by 12.4% in the third quarter. Oppenheimer Asset Management Inc. now owns 48,189 shares of the auto parts company’s stock valued at $6,851,000 after buying an additional 5,319 shares during the period. Institutional investors own 95.23% of the company’s stock.

Insider Activity

In related news, CEO Neil David Brinker sold 31,871 shares of Modine Manufacturing stock in a transaction that occurred 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 sale, the chief executive officer directly owned 238,312 shares in the company, valued at $38,263,374.72. This trade represents a 11.80% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Suresh V. Garimella sold 1,100 shares of the company’s stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $184.07, for a total transaction of $202,477.00. Following the completion of the transaction, the director owned 79,856 shares of the company’s stock, valued at approximately $14,699,093.92. This trade represents a 1.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 34,071 shares of company stock worth $5,484,685. Company insiders own 2.48% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on MOD. UBS Group assumed coverage on Modine Manufacturing in a research note on Thursday, November 20th. They set a “buy” rating and a $173.00 price objective on the stock. DA Davidson raised their price target on Modine Manufacturing from $255.00 to $265.00 and gave the stock a “buy” rating in a research report on Monday, February 9th. Oppenheimer upped their price objective on shares of Modine Manufacturing from $220.00 to $240.00 and gave the stock an “outperform” rating in a research report on Friday, February 6th. Roth Mkm initiated coverage on shares of Modine Manufacturing in a research note on Wednesday, February 18th. They set a “buy” rating and a $263.00 price objective on the stock. Finally, Zacks Research raised shares of Modine Manufacturing from a “hold” rating to a “strong-buy” rating in a report on Friday, January 30th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $223.20.

Modine Manufacturing Stock Down 0.6%

Shares of MOD opened at $228.78 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.28 and a current ratio of 2.19. Modine Manufacturing Company has a 52 week low of $64.79 and a 52 week high of $243.80. The stock has a market capitalization of $12.06 billion, a price-to-earnings ratio of 127.10, a PEG ratio of 1.40 and a beta of 1.71. The stock has a fifty day moving average of $168.39 and a 200-day moving average of $154.71.

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

Modine Manufacturing Company 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.