Easterly Investment Partners LLC Cuts Stake in Modine Manufacturing Company $MOD

Easterly Investment Partners LLC reduced its holdings in shares of Modine Manufacturing Company (NYSE:MOD) by 37.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,510 shares of the auto parts company’s stock after selling 4,509 shares during the period. Easterly Investment Partners LLC’s holdings in Modine Manufacturing were worth $1,003,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in MOD. Spire Wealth Management acquired a new position in Modine Manufacturing during the 4th quarter worth approximately $27,000. Sunbelt Securities Inc. acquired a new position in Modine Manufacturing during the 3rd quarter worth approximately $39,000. Danske Bank A S acquired a new position in Modine Manufacturing during the 3rd quarter worth approximately $43,000. AdvisorShares Investments LLC grew its holdings in Modine Manufacturing by 154.0% during the 3rd quarter. AdvisorShares Investments LLC now owns 475 shares of the auto parts company’s stock worth $68,000 after acquiring an additional 288 shares in the last quarter. Finally, Maseco LLP acquired a new position in Modine Manufacturing during the 4th quarter worth approximately $69,000. 95.23% of the stock is owned by hedge funds and other institutional investors.

Modine Manufacturing Stock Up 3.9%

Shares of NYSE:MOD opened at $289.71 on Tuesday. The stock has a market cap of $15.30 billion, a P/E ratio of 129.33, a P/E/G ratio of 0.92 and a beta of 1.65. The firm has a fifty day moving average price of $248.22 and a 200 day moving average price of $196.36. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.94 and a quick ratio of 1.25. Modine Manufacturing Company has a 1-year low of $86.48 and a 1-year high of $323.25.

Modine Manufacturing (NYSE:MOD) last issued its quarterly earnings results on Tuesday, May 26th. The auto parts company reported $1.71 earnings per share for the quarter, topping analysts’ consensus estimates of $1.51 by $0.20. The firm had revenue of $954.40 million during the quarter, compared to analysts’ expectations of $920.67 million. Modine Manufacturing had a net margin of 3.82% and a return on equity of 24.39%. Modine Manufacturing’s quarterly revenue was up 47.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.12 EPS. Sell-side analysts predict that Modine Manufacturing Company will post 7.6 EPS for the current year.

Analysts Set New Price Targets

Several research firms have commented on MOD. Oppenheimer boosted their price target on shares of Modine Manufacturing from $271.00 to $325.00 and gave the stock an “outperform” rating in a report on Thursday, May 28th. Roth Mkm began coverage on shares of Modine Manufacturing in a report on Wednesday, February 18th. They set a “buy” rating and a $263.00 price target for the company. B. Riley Financial boosted their price target on shares of Modine Manufacturing from $250.00 to $264.00 and gave the stock a “buy” rating in a report on Tuesday, May 26th. Weiss Ratings upgraded shares of Modine Manufacturing from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday. Finally, Zacks Research cut shares of Modine Manufacturing from a “strong-buy” rating to a “hold” rating in a report on Monday, April 13th. Seven equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $327.14.

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.