Modine Manufacturing (NYSE:MOD) Holdings Trimmed by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC reduced its stake in shares of Modine Manufacturing (NYSE:MOD) by 9.9% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 104,453 shares of the auto parts company’s stock after selling 11,441 shares during the period. Wedge Capital Management L L P NC owned 0.20% of Modine Manufacturing worth $6,236,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of MOD. Vanguard Group Inc. lifted its stake in shares of Modine Manufacturing by 3.2% in the 3rd quarter. Vanguard Group Inc. now owns 3,056,893 shares of the auto parts company’s stock valued at $139,853,000 after purchasing an additional 95,255 shares during the last quarter. Brown Advisory Inc. lifted its stake in shares of Modine Manufacturing by 9.8% in the 3rd quarter. Brown Advisory Inc. now owns 1,471,477 shares of the auto parts company’s stock valued at $67,320,000 after purchasing an additional 131,734 shares during the last quarter. American Century Companies Inc. lifted its stake in shares of Modine Manufacturing by 570.1% in the 3rd quarter. American Century Companies Inc. now owns 700,758 shares of the auto parts company’s stock valued at $32,060,000 after purchasing an additional 596,177 shares during the last quarter. Reinhart Partners LLC. acquired a new stake in shares of Modine Manufacturing in the 4th quarter valued at $41,129,000. Finally, Northern Trust Corp lifted its stake in shares of Modine Manufacturing by 1.2% in the 3rd quarter. Northern Trust Corp now owns 556,001 shares of the auto parts company’s stock valued at $25,437,000 after purchasing an additional 6,836 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

A number of research analysts have weighed in on MOD shares. DA Davidson reissued a “buy” rating and set a $90.00 target price on shares of Modine Manufacturing in a research report on Tuesday, February 27th. Oppenheimer initiated coverage on shares of Modine Manufacturing in a report on Tuesday, March 19th. They set an “outperform” rating and a $105.00 price objective on the stock. B. Riley restated a “buy” rating and set a $98.00 price objective (up previously from $88.00) on shares of Modine Manufacturing in a report on Tuesday, February 27th. Finally, StockNews.com downgraded shares of Modine Manufacturing from a “buy” rating to a “hold” rating in a report on Wednesday, January 31st. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $97.67.

Modine Manufacturing Stock Performance

NYSE MOD opened at $89.02 on Wednesday. The firm has a market cap of $4.65 billion, a price-to-earnings ratio of 21.00, a PEG ratio of 0.66 and a beta of 2.29. The company has a 50 day moving average of $89.27 and a 200-day moving average of $67.08. The company has a current ratio of 1.93, a quick ratio of 1.21 and a debt-to-equity ratio of 0.43. Modine Manufacturing has a 1-year low of $19.41 and a 1-year high of $106.01.

Modine Manufacturing (NYSE:MOD) last released its quarterly earnings results on Tuesday, January 30th. The auto parts company reported $0.74 EPS for the quarter, beating the consensus estimate of $0.57 by $0.17. Modine Manufacturing had a net margin of 9.31% and a return on equity of 25.28%. The business had revenue of $561.40 million for the quarter, compared to analysts’ expectations of $594.84 million. During the same period in the prior year, the firm earned $0.48 earnings per share. Modine Manufacturing’s revenue was up .2% compared to the same quarter last year. On average, equities analysts forecast that Modine Manufacturing will post 3.27 earnings per share for the current fiscal year.

Insider Buying and Selling at Modine Manufacturing

In other news, CFO Michael B. Lucareli sold 82,312 shares of Modine Manufacturing stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $90.33, for a total transaction of $7,435,242.96. Following the transaction, the chief financial officer now directly owns 194,587 shares of the company’s stock, valued at $17,577,043.71. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, VP Brian Jon Agen sold 16,799 shares of the firm’s stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $95.64, for a total transaction of $1,606,656.36. Following the sale, the vice president now directly owns 102,409 shares in the company, valued at $9,794,396.76. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Michael B. Lucareli sold 82,312 shares of Modine Manufacturing stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $90.33, for a total transaction of $7,435,242.96. Following the completion of the sale, the chief financial officer now owns 194,587 shares in the company, valued at $17,577,043.71. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 113,336 shares of company stock valued at $10,330,115. 2.86% of the stock is currently owned by insiders.

Modine Manufacturing Profile

Modine Manufacturing Company provides engineered heat transfer systems and heat transfer components for use in on- and off-highway original equipment manufacturer (OEM) vehicular applications. It operates through Climate Solutions and Performance Technologies segments. The company offers gas-fired, hydronic, electric, and oil-fired unit heaters; indoor and outdoor duct furnaces; infrared units; perimeter heating products, such as commercial fin-tube radiation, cabinet unit heaters, and convectors; roof-mounted direct- and indirect-fired makeup air units; unit ventilators; single packaged vertical units; precision air conditioning units for data center applications; air handler units; fan walls; chillers; ceiling cassettes; hybrid fan coils; and condensers and condensing units.