Thrivent Financial for Lutherans Cuts Stock Position in Modine Manufacturing Company $MOD

Thrivent Financial for Lutherans trimmed its position in Modine Manufacturing Company (NYSE:MOD) by 5.3% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 608,355 shares of the auto parts company’s stock after selling 34,286 shares during the period. Thrivent Financial for Lutherans’ holdings in Modine Manufacturing were worth $59,923,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Nuveen LLC acquired a new stake in shares of Modine Manufacturing in the 1st quarter worth $18,853,000. Fox Run Management L.L.C. acquired a new stake in Modine Manufacturing in the first quarter valued at about $748,000. Algert Global LLC boosted its holdings in Modine Manufacturing by 27.4% in the 1st quarter. Algert Global LLC now owns 25,427 shares of the auto parts company’s stock valued at $1,952,000 after purchasing an additional 5,470 shares in the last quarter. Versor Investments LP increased its position in Modine Manufacturing by 36.7% during the 1st quarter. Versor Investments LP now owns 7,085 shares of the auto parts company’s stock worth $544,000 after purchasing an additional 1,903 shares during the period. Finally, Wellington Management Group LLP raised its stake in shares of Modine Manufacturing by 293.7% during the 1st quarter. Wellington Management Group LLP now owns 2,468,788 shares of the auto parts company’s stock worth $189,479,000 after buying an additional 1,841,640 shares in the last quarter. 95.23% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently weighed in on MOD. Weiss Ratings restated a “hold (c)” rating on shares of Modine Manufacturing in a research note on Monday, December 8th. KeyCorp raised their target price on Modine Manufacturing from $160.00 to $175.00 and gave the company an “overweight” rating in a report on Tuesday, October 14th. Zacks Research cut shares of Modine Manufacturing from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 29th. UBS Group assumed coverage on shares of Modine Manufacturing in a report on Thursday, November 20th. They issued a “buy” rating and a $173.00 price target for the company. Finally, Oppenheimer boosted their price objective on shares of Modine Manufacturing from $145.00 to $180.00 and gave the stock an “outperform” rating in a report on Tuesday, October 14th. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, Modine Manufacturing has a consensus rating of “Moderate Buy” and an average target price of $182.00.

Modine Manufacturing Trading Down 15.6%

Shares of MOD stock opened at $139.43 on Monday. The stock has a market cap of $7.34 billion, a P/E ratio of 40.30, a P/E/G ratio of 0.89 and a beta of 1.69. The company has a quick ratio of 1.16, a current ratio of 2.00 and a debt-to-equity ratio of 0.50. Modine Manufacturing Company has a fifty-two week low of $64.79 and a fifty-two week high of $166.94. The business has a fifty day simple moving average of $152.34 and a 200-day simple moving average of $131.27.

Modine Manufacturing (NYSE:MOD) last issued its quarterly earnings data on Tuesday, October 28th. The auto parts company reported $1.06 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $0.09. Modine Manufacturing had a net margin of 6.93% and a return on equity of 23.19%. The firm had revenue of $738.90 million for the quarter, compared to analysts’ expectations of $699.91 million. During the same period in the prior year, the company earned $0.97 EPS. The firm’s revenue was up 12.3% on a year-over-year basis. On average, analysts forecast that Modine Manufacturing Company will post 3.88 earnings per share for the current fiscal year.

Insider Activity at Modine Manufacturing

In other news, CEO Neil David Brinker sold 31,871 shares of the firm’s stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $160.56, for a total transaction of $5,117,207.76. Following the completion of the transaction, the chief executive officer directly owned 238,312 shares of the company’s stock, valued at $38,263,374.72. This trade represents a 11.80% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.48% of the stock is owned by corporate insiders.

Modine Manufacturing Company Profile

Modine Manufacturing Company provides thermal management products and solutions in the United States, Italy, Hungary, China, the United Kingdom, and internationally. It operates through Climate Solutions and Performance Technologies segments. The company offers heat transfer coils, including heat recovery and round tube plate fin coils; gas-fired, hydronic, electric and oilfired unit heaters; roof-mounted direct- and indirect-fired makeup air units; duct furnaces; infrared units; perimeter heating products; single packaged unit ventilators; modular chillers; air handler and condensing units; ceiling cassettes; evaporator unit coolers, remote condensers, fluid coolers, gas coolers, and dry and brine coolers; and motor and generator cooling coils, transformer oil coolers, radiators, dryers, and industrial heat exchangers.