Corient Private Wealth LLC Trims Position in Modine Manufacturing Company $MOD

Corient Private Wealth LLC cut its stake in shares of Modine Manufacturing Company (NYSE:MOD) by 33.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,073 shares of the auto parts company’s stock after selling 2,524 shares during the period. Corient Private Wealth LLC’s holdings in Modine Manufacturing were worth $682,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Kemnay Advisory Services Inc. acquired a new position in Modine Manufacturing in the 4th quarter worth approximately $25,000. Spire Wealth Management purchased a new stake in shares of Modine Manufacturing in the fourth quarter valued at approximately $27,000. Sunbelt Securities Inc. acquired a new position in Modine Manufacturing during the third quarter worth $39,000. Danske Bank A S acquired a new position in Modine Manufacturing during the third quarter worth $43,000. Finally, Root Financial Partners LLC raised its position in Modine Manufacturing by 140.5% in the fourth quarter. Root Financial Partners LLC now owns 368 shares of the auto parts company’s stock worth $49,000 after acquiring an additional 215 shares in the last quarter. 95.23% of the stock is owned by hedge funds and other institutional investors.

Modine Manufacturing Price Performance

MOD stock opened at $231.27 on Friday. Modine Manufacturing Company has a 52-week low of $86.48 and a 52-week 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. The business has a 50-day simple moving average of $270.29 and a two-hundred day simple moving average of $217.05. The company has a market capitalization of $12.22 billion, a P/E ratio of 103.24, a price-to-earnings-growth ratio of 0.75 and a beta of 1.67.

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

Insider Transactions at Modine Manufacturing

In related news, insider Eric S. Mcginnis sold 1,020 shares of the stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $295.06, for a total value of $300,961.20. Following the completion of the transaction, the insider directly owned 28,364 shares of the company’s stock, valued at $8,369,081.84. This represents a 3.47% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Eric D. Ashleman sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $288.54, for a total value of $4,328,100.00. Following the completion of the sale, the director owned 42,350 shares in the company, valued at approximately $12,219,669. This represents a 26.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 54,302 shares of company stock valued at $15,928,759 in the last ninety days. Corporate insiders own 2.48% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on MOD. UBS Group boosted their price objective on Modine Manufacturing to $310.00 and gave the company a “buy” rating in a report on Wednesday, May 27th. Glj Research reiterated a “buy” rating and issued a $428.00 target price on shares of Modine Manufacturing in a research note on Monday, June 1st. B. Riley Financial boosted their price target on shares of Modine Manufacturing from $250.00 to $264.00 and gave the company a “buy” rating in a report on Tuesday, May 26th. KeyCorp upped their price target on shares of Modine Manufacturing from $250.00 to $370.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 27th. Finally, Wall Street Zen upgraded shares of Modine Manufacturing from a “hold” rating to a “buy” rating in a research note on Saturday, May 30th. Seven research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $327.14.

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.