Modine Manufacturing Company $MOD Stock Holdings Lessened by William Blair Investment Management LLC

William Blair Investment Management LLC trimmed its position in shares of Modine Manufacturing Company (NYSE:MOD) by 18.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 173,772 shares of the auto parts company’s stock after selling 40,157 shares during the period. William Blair Investment Management LLC’s holdings in Modine Manufacturing were worth $32,530,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of MOD. BlackRock Inc. bought a new stake in shares of Modine Manufacturing in the second quarter worth about $765,540,000. Paradigm Capital Management Inc. NY bought a new position in Modine Manufacturing during the 2nd quarter valued at approximately $388,140,000. Reinhart Partners LLC. raised its position in Modine Manufacturing by 76.4% during the 3rd quarter. Reinhart Partners LLC. now owns 980,220 shares of the auto parts company’s stock valued at $183,497,000 after purchasing an additional 424,534 shares during the last quarter. Jupiter Topco LLC bought a new position in Modine Manufacturing during the 2nd quarter valued at approximately $123,873,000. Finally, Blue Whale Capital LLP purchased a new stake in Modine Manufacturing in the 2nd quarter worth approximately $123,747,000. 95.23% of the stock is currently owned by hedge funds and other institutional investors.

Modine Manufacturing Trading Up 28.3%

MOD stock traded up $29.98 during trading on Friday, reaching $136.09. The company had a trading volume of 8,425,377 shares, compared to its average volume of 2,246,703. Modine Manufacturing Company has a 52 week low of $87.84 and a 52 week high of $323.25. The company has a market cap of $7.24 billion, a P/E ratio of 56.94, a PEG ratio of 0.42 and a beta of 1.86. The business has a 50 day moving average of $159.34 and a 200 day moving average of $213.29. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.17 and a quick ratio of 1.34.

Modine Manufacturing (NYSE:MOD) last posted its quarterly earnings data on Tuesday, November 3rd. The auto parts company reported $1.35 earnings per share for the quarter, missing the consensus estimate of $1.47 by ($0.12). Modine Manufacturing had a net margin of 3.58% and a return on equity of 25.96%. The firm had revenue of $994.40 million for the quarter, compared to the consensus estimate of $978.31 million. During the same period in the previous year, the firm posted $0.83 earnings per share. The business’s revenue was up 34.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Modine Manufacturing Company will post 6.25 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Modine Manufacturing in a research report on Tuesday, August 25th. Oppenheimer reduced their target price on Modine Manufacturing from $260.00 to $215.00 and set an “outperform” rating on the stock in a research note on Thursday, November 5th. Zacks Research downgraded Modine Manufacturing from a “hold” rating to a “strong sell” rating in a report on Friday, October 16th. Cantor Fitzgerald dropped their price target on Modine Manufacturing from $275.00 to $178.00 and set an “overweight” rating for the company in a research note on Thursday, November 5th. Finally, KeyCorp cut their price target on shares of Modine Manufacturing from $280.00 to $225.00 and set an “overweight” rating on the stock in a report on Wednesday, November 4th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $264.89.

Recent Modine Manufacturing Headlines

Here are a few of the latest headlines about MOD:

• Positive Sentiment: Reports say Samsung is discussing a possible acquisition of Modine for about $5.6 billion, which could give Samsung access to Modine’s cooling technology for AI data centers. The reports have lifted investor expectations for a takeover premium. Bloomberg Law article
• Positive Sentiment: Modine has started commercial production of Airedale chillers at its Grand Prairie, Texas, facility, adding production capacity for data-center cooling demand. MarketScreener article
• Neutral Sentiment: Modine plans to discuss its multiyear growth strategy and new financial targets at an Analyst and Investor Day on November 18. Modine announcement

About Modine Manufacturing

Modine Manufacturing Company is a global provider of thermal management solutions, serving markets that need to control heating, cooling and temperature-related performance. Founded in 1916 by Arthur B. Modine, the company is headquartered in Racine, Wisconsin. Through its Climate Solutions business, Modine supplies heating, ventilation and air conditioning equipment for commercial and industrial buildings, as well as cooling systems for data centers. Its offerings include chillers, heat exchangers and other equipment designed to manage indoor environments and remove heat from technology infrastructure.