Legal & General Group Plc Decreases Stock Position in Modine Manufacturing Company $MOD

Legal & General Group Plc cut its stake in Modine Manufacturing Company (NYSE:MOD) by 8.0% in the fourth quarter, HoldingsChannel reports. The firm owned 53,910 shares of the auto parts company’s stock after selling 4,691 shares during the quarter. Legal & General Group Plc’s holdings in Modine Manufacturing were worth $7,198,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Perigon Wealth Management LLC boosted its holdings in Modine Manufacturing by 583.1% in the fourth quarter. Perigon Wealth Management LLC now owns 15,171 shares of the auto parts company’s stock valued at $2,025,000 after purchasing an additional 12,950 shares during the period. Wisconsin Capital Management LLC boosted its holdings in Modine Manufacturing by 227.9% in the third quarter. Wisconsin Capital Management LLC now owns 23,071 shares of the auto parts company’s stock valued at $3,280,000 after purchasing an additional 16,034 shares during the period. Congress Asset Management Co. boosted its holdings in Modine Manufacturing by 7.8% in the fourth quarter. Congress Asset Management Co. now owns 568,853 shares of the auto parts company’s stock valued at $75,948,000 after purchasing an additional 41,373 shares during the period. Oppenheimer Asset Management Inc. lifted its holdings in Modine Manufacturing by 12.4% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 48,189 shares of the auto parts company’s stock worth $6,851,000 after buying an additional 5,319 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in Modine Manufacturing by 14.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,171,497 shares of the auto parts company’s stock worth $166,540,000 after buying an additional 151,543 shares during the last quarter. 95.23% of the stock is currently owned by hedge funds and other institutional investors.

Modine Manufacturing Stock Down 8.4%

MOD opened at $275.95 on Friday. The business has a 50 day moving average price of $254.49 and a two-hundred day moving average price of $200.42. The company has a quick ratio of 1.25, a current ratio of 1.94 and a debt-to-equity ratio of 0.32. The company has a market cap of $14.58 billion, a PE ratio of 123.19, a P/E/G ratio of 0.89 and a beta of 1.65. Modine Manufacturing Company has a 52 week low of $86.48 and a 52 week high of $323.25.

Modine Manufacturing (NYSE:MOD) last posted its quarterly earnings data 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. The firm had revenue of $954.40 million during the quarter, compared to the consensus estimate of $920.67 million. Modine Manufacturing had a return on equity of 24.39% and a net margin of 3.82%.The firm’s revenue was up 47.5% compared to the same quarter last year. During the same period in the prior year, the business earned $1.12 EPS. As a group, research analysts anticipate that Modine Manufacturing Company will post 7.73 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Wall Street Zen raised Modine Manufacturing from a “hold” rating to a “buy” rating in a report on Saturday, May 30th. Oppenheimer lifted their price target on Modine Manufacturing from $271.00 to $325.00 and gave the stock an “outperform” rating in a report on Thursday, May 28th. UBS Group lifted their price target on Modine Manufacturing to $310.00 and gave the stock a “buy” rating in a report on Wednesday, May 27th. Glj Research reaffirmed a “buy” rating and set a $428.00 price target on shares of Modine Manufacturing in a report on Monday, June 1st. Finally, Zacks Research downgraded Modine Manufacturing from a “strong-buy” rating to a “hold” rating in a report on Monday, April 13th. Seven research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, Modine Manufacturing presently has a consensus rating of “Moderate Buy” and a consensus target price of $327.14.

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.