Modine Manufacturing (NYSE:MOD) Shares Sold by Ausbil Investment Management Ltd

Ausbil Investment Management Ltd cut its stake in Modine Manufacturing (NYSE:MOD - Free Report) by 34.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,455 shares of the auto parts company's stock after selling 9,341 shares during the period. Ausbil Investment Management Ltd's holdings in Modine Manufacturing were worth $2,137,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. Nisa Investment Advisors LLC increased its position in shares of Modine Manufacturing by 6.5% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,353 shares of the auto parts company's stock worth $157,000 after acquiring an additional 82 shares during the period. Legend Financial Advisors Inc. increased its holdings in Modine Manufacturing by 2.9% during the 4th quarter. Legend Financial Advisors Inc. now owns 9,929 shares of the auto parts company's stock worth $1,151,000 after purchasing an additional 279 shares during the period. Inspire Investing LLC raised its position in Modine Manufacturing by 10.4% during the 4th quarter. Inspire Investing LLC now owns 3,442 shares of the auto parts company's stock valued at $399,000 after purchasing an additional 325 shares in the last quarter. Bay Rivers Group raised its position in Modine Manufacturing by 6.3% during the 3rd quarter. Bay Rivers Group now owns 5,727 shares of the auto parts company's stock valued at $760,000 after purchasing an additional 340 shares in the last quarter. Finally, Sovereign Financial Group Inc. grew its position in shares of Modine Manufacturing by 18.1% during the 4th quarter. Sovereign Financial Group Inc. now owns 2,367 shares of the auto parts company's stock worth $274,000 after buying an additional 363 shares in the last quarter. Hedge funds and other institutional investors own 95.23% of the company's stock.

Modine Manufacturing Stock Up 2.2 %

Modine Manufacturing stock traded up $2.11 during mid-day trading on Tuesday, reaching $98.58. 1,077,033 shares of the company were exchanged, compared to its average volume of 1,196,423. Modine Manufacturing has a 12-month low of $67.77 and a 12-month high of $146.84. The business has a fifty day moving average of $124.24 and a 200 day moving average of $120.86. The firm has a market cap of $5.18 billion, a P/E ratio of 32.43, a PEG ratio of 0.78 and a beta of 2.31. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.09 and a current ratio of 1.77.

Analysts Set New Price Targets

Separately, Oppenheimer lifted their price objective on Modine Manufacturing from $144.00 to $145.00 and gave the company an "outperform" rating in a report on Thursday, October 31st.

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.