Capital World Investors Lowers Stock Holdings in Modine Manufacturing Company $MOD

Capital World Investors cut its holdings in Modine Manufacturing Company (NYSE:MOD) by 14.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 853,873 shares of the auto parts company’s stock after selling 141,496 shares during the quarter. Capital World Investors owned 1.62% of Modine Manufacturing worth $114,001,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Spire Wealth Management purchased a new stake in shares of Modine Manufacturing in the fourth quarter valued at approximately $27,000. Sunbelt Securities Inc. purchased a new stake in shares of Modine Manufacturing in the third quarter valued at approximately $39,000. Danske Bank A S purchased a new stake in shares of Modine Manufacturing in the third quarter valued at approximately $43,000. Root Financial Partners LLC boosted its stake in shares of Modine Manufacturing by 140.5% in the fourth quarter. Root Financial Partners LLC now owns 368 shares of the auto parts company’s stock valued at $49,000 after buying an additional 215 shares in the last quarter. Finally, AdvisorShares Investments LLC boosted its stake in shares of Modine Manufacturing by 154.0% in the third quarter. AdvisorShares Investments LLC now owns 475 shares of the auto parts company’s stock valued at $68,000 after buying an additional 288 shares in the last quarter. 95.23% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on the company. Oppenheimer lifted their price target on Modine Manufacturing from $271.00 to $325.00 and gave the company an “outperform” rating in a research note on Thursday, May 28th. Glj Research restated a “buy” rating and issued a $428.00 price target on shares of Modine Manufacturing in a research note on Monday, June 1st. Weiss Ratings upgraded Modine Manufacturing from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, May 28th. UBS Group lifted their price target on Modine Manufacturing to $310.00 and gave the company a “buy” rating in a research note on Wednesday, May 27th. Finally, B. Riley Financial lifted their price target on Modine Manufacturing from $250.00 to $264.00 and gave the company a “buy” rating in a research note on Tuesday, May 26th. Seven equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $327.14.

Modine Manufacturing Stock Performance

Shares of MOD stock opened at $274.70 on Tuesday. The stock has a fifty day moving average price of $255.68 and a 200 day moving average price of $201.94. The stock has a market cap of $14.51 billion, a PE ratio of 122.63, a P/E/G ratio of 0.89 and a beta of 1.65. Modine Manufacturing Company has a 1 year low of $86.48 and a 1 year high of $323.25. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.25 and a current ratio of 1.94.

Modine Manufacturing (NYSE:MOD) last issued its quarterly earnings data on Tuesday, May 26th. The auto parts company reported $1.71 earnings per share (EPS) for the quarter, topping the consensus estimate 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 return on equity of 24.39% and a net margin of 3.82%.Modine Manufacturing’s revenue was up 47.5% on a year-over-year basis. During the same period in the previous year, the firm posted $1.12 earnings per share. Sell-side analysts forecast that Modine Manufacturing Company will post 7.73 earnings per share for the current fiscal year.

About Modine Manufacturing

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.