Ashford Capital Management Inc. Reduces Stock Holdings in Modine Manufacturing Company $MOD

Ashford Capital Management Inc. trimmed its holdings in shares of Modine Manufacturing Company (NYSE:MOD) by 11.3% during the 4th quarter, Holdings Channel reports. The institutional investor owned 14,736 shares of the auto parts company’s stock after selling 1,880 shares during the period. Ashford Capital Management Inc.’s holdings in Modine Manufacturing were worth $1,967,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MOD. Spire Wealth Management purchased a new position in Modine Manufacturing during the 4th quarter worth $27,000. Sunbelt Securities Inc. purchased a new position in Modine Manufacturing during the 3rd quarter worth $39,000. Danske Bank A S purchased a new position in Modine Manufacturing during the 3rd quarter worth $43,000. Root Financial Partners LLC grew its stake in Modine Manufacturing by 140.5% during the 4th quarter. Root Financial Partners LLC now owns 368 shares of the auto parts company’s stock worth $49,000 after buying an additional 215 shares during the last quarter. Finally, Smartleaf Asset Management LLC grew its stake in Modine Manufacturing by 58.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 439 shares of the auto parts company’s stock worth $59,000 after buying an additional 162 shares during the last quarter. 95.23% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MOD has been the subject of a number of research reports. Zacks Research cut Modine Manufacturing from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 13th. Oppenheimer lifted their price target on Modine Manufacturing from $271.00 to $325.00 and gave the stock an “outperform” rating in a research report on Thursday, May 28th. DA Davidson lifted their price target on Modine Manufacturing from $265.00 to $330.00 and gave the stock a “buy” rating in a research report on Friday, May 29th. Roth Mkm initiated coverage on Modine Manufacturing in a research report on Wednesday, February 18th. They set a “buy” rating and a $263.00 price target for the company. Finally, B. Riley Financial lifted their price target on Modine Manufacturing from $250.00 to $264.00 and gave the stock a “buy” rating in a research report on Tuesday, May 26th. Seven analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, Modine Manufacturing presently has a consensus rating of “Moderate Buy” and an average price target of $327.14.

Modine Manufacturing Stock Performance

Shares of MOD stock opened at $285.20 on Wednesday. The stock has a market cap of $15.06 billion, a PE ratio of 127.32, a price-to-earnings-growth ratio of 0.92 and a beta of 1.65. The business has a 50-day simple moving average of $262.90 and a 200-day simple moving average of $207.32. The company has a quick ratio of 1.25, a current ratio of 1.94 and a debt-to-equity ratio of 0.32. Modine Manufacturing Company has a 52-week low of $86.48 and a 52-week high of $323.25.

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, beating the consensus estimate of $1.51 by $0.20. The business 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%.The company’s revenue for the quarter was up 47.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.12 EPS. On average, equities analysts expect that Modine Manufacturing Company will post 7.73 EPS for the current 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.