Moody Aldrich Partners LLC Cuts Position in Modine Manufacturing Company $MOD

Moody Aldrich Partners LLC trimmed its holdings in shares of Modine Manufacturing Company (NYSE:MOD) by 4.4% in the fourth quarter, HoldingsChannel.com reports. The fund owned 50,501 shares of the auto parts company’s stock after selling 2,299 shares during the period. Modine Manufacturing makes up 1.3% of Moody Aldrich Partners LLC’s investment portfolio, making the stock its 15th largest position. Moody Aldrich Partners LLC’s holdings in Modine Manufacturing were worth $6,742,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of MOD. Capital Research Global Investors bought a new position in Modine Manufacturing in the 3rd quarter valued at $184,610,000. WT Asset Management Ltd purchased a new position in shares of Modine Manufacturing in the 4th quarter worth about $69,255,000. Invesco Ltd. grew its position in Modine Manufacturing by 133.2% during the third quarter. Invesco Ltd. now owns 598,140 shares of the auto parts company’s stock valued at $85,032,000 after buying an additional 341,595 shares during the period. Adage Capital Partners GP L.L.C. purchased a new stake in Modine Manufacturing during the second quarter worth about $28,322,000. Finally, Amundi bought a new stake in Modine Manufacturing in the third quarter worth about $42,185,000. 95.23% of the stock is currently owned by institutional investors.

Insider Activity at Modine Manufacturing

In other news, Director Suresh V. Garimella sold 1,100 shares of Modine Manufacturing stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $184.07, for a total value of $202,477.00. Following the completion of the transaction, the director directly owned 79,856 shares in the company, valued at approximately $14,699,093.92. The trade was a 1.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.48% of the stock is owned by insiders.

Modine Manufacturing Stock Performance

Shares of MOD stock opened at $237.33 on Wednesday. The firm’s 50 day moving average is $222.53 and its 200 day moving average is $178.68. The stock has a market capitalization of $12.51 billion, a P/E ratio of 131.85, a PEG ratio of 1.00 and a beta of 1.68. Modine Manufacturing Company has a 12 month low of $77.29 and a 12 month high of $260.01. The company has a current ratio of 2.19, a quick ratio of 1.28 and a debt-to-equity ratio of 0.51.

Modine Manufacturing (NYSE:MOD) last released its quarterly earnings data on Wednesday, February 4th. The auto parts company reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.20. Modine Manufacturing had a net margin of 3.40% and a return on equity of 22.99%. The business had revenue of $805.00 million during the quarter, compared to analyst estimates of $763.54 million. During the same period in the previous year, the business earned $0.92 EPS. Modine Manufacturing’s revenue was up 30.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Modine Manufacturing Company will post 4.82 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the stock. Oppenheimer increased their target price on shares of Modine Manufacturing from $220.00 to $240.00 and gave the company an “outperform” rating in a research report on Friday, February 6th. Glj Research assumed coverage on Modine Manufacturing in a report on Monday, March 30th. They set a “buy” rating and a $290.00 price objective for the company. Roth Mkm started coverage on Modine Manufacturing in a research note on Wednesday, February 18th. They issued a “buy” rating and a $263.00 target price on the stock. DA Davidson reiterated a “buy” rating and set a $265.00 price target on shares of Modine Manufacturing in a research note on Tuesday, March 31st. Finally, Zacks Research lowered Modine Manufacturing from a “strong-buy” rating to a “hold” rating in a report on Monday, April 13th. Six investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $234.33.

Modine Manufacturing Company 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.