Clearbridge Investments LLC Trims Stake in Modine Manufacturing Company $MOD

Clearbridge Investments LLC reduced its holdings in shares of Modine Manufacturing Company (NYSE:MOD) by 2.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 169,434 shares of the auto parts company’s stock after selling 3,508 shares during the period. Clearbridge Investments LLC owned about 0.32% of Modine Manufacturing worth $22,621,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in MOD. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Modine Manufacturing by 26.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,223 shares of the auto parts company’s stock valued at $2,857,000 after buying an additional 7,831 shares during the last quarter. California Public Employees Retirement System increased its holdings in Modine Manufacturing by 8.3% during the second quarter. California Public Employees Retirement System now owns 68,702 shares of the auto parts company’s stock valued at $6,767,000 after buying an additional 5,244 shares during the last quarter. State Street Corp increased its holdings in Modine Manufacturing by 4.2% during the second quarter. State Street Corp now owns 1,309,488 shares of the auto parts company’s stock valued at $128,985,000 after buying an additional 53,351 shares during the last quarter. Qube Research & Technologies Ltd increased its holdings in Modine Manufacturing by 106.3% during the second quarter. Qube Research & Technologies Ltd now owns 161,319 shares of the auto parts company’s stock valued at $15,890,000 after buying an additional 83,105 shares during the last quarter. Finally, Sei Investments Co. increased its holdings in Modine Manufacturing by 70.8% during the second quarter. Sei Investments Co. now owns 309,653 shares of the auto parts company’s stock valued at $30,501,000 after buying an additional 128,348 shares during the last quarter. 95.23% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have commented on MOD. Glj Research reaffirmed a “buy” rating and set a $428.00 target price on shares of Modine Manufacturing in a report on Monday, June 1st. Zacks Research cut shares of Modine Manufacturing from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 13th. KeyCorp increased their price objective on shares of Modine Manufacturing from $250.00 to $370.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 27th. B. Riley Financial increased their price objective on shares of Modine Manufacturing from $250.00 to $264.00 and gave the stock a “buy” rating in a research note on Tuesday, May 26th. Finally, Oppenheimer increased their price objective on shares of Modine Manufacturing from $271.00 to $325.00 and gave the stock an “outperform” rating in a research note on Thursday, May 28th. Seven analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $327.14.

Modine Manufacturing Price Performance

MOD stock opened at $278.77 on Wednesday. Modine Manufacturing Company has a 12 month low of $86.48 and a 12 month high of $323.25. The company has a 50-day moving average price of $256.98 and a 200 day moving average price of $202.90. The stock has a market cap of $14.72 billion, a PE ratio of 124.45, a P/E/G ratio of 0.89 and a beta of 1.65. The company has a current ratio of 1.94, a quick ratio of 1.25 and a debt-to-equity ratio of 0.32.

Modine Manufacturing (NYSE:MOD) last posted its quarterly earnings results on Tuesday, May 26th. The auto parts company reported $1.71 EPS for the quarter, beating the consensus estimate of $1.51 by $0.20. Modine Manufacturing had a net margin of 3.82% and a return on equity of 24.39%. The business had revenue of $954.40 million during the quarter, compared to analyst estimates of $920.67 million. During the same quarter in the previous year, the business posted $1.12 EPS. The company’s quarterly revenue was up 47.5% compared to the same quarter last year. Equities research analysts anticipate that Modine Manufacturing Company will post 7.73 earnings per share for the current year.

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.