Congress Asset Management Co. Sells 50,751 Shares of Modine Manufacturing (NYSE:MOD)

Congress Asset Management Co. lessened its stake in shares of Modine Manufacturing (NYSE:MOD - Free Report) by 49.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 52,727 shares of the auto parts company's stock after selling 50,751 shares during the quarter. Congress Asset Management Co. owned about 0.10% of Modine Manufacturing worth $6,113,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Creative Planning boosted its holdings in shares of Modine Manufacturing by 52.3% in the third quarter. Creative Planning now owns 14,764 shares of the auto parts company's stock worth $1,961,000 after buying an additional 5,068 shares during the last quarter. Vontobel Holding Ltd. purchased a new position in shares of Modine Manufacturing in the third quarter worth approximately $230,000. Raymond James & Associates boosted its holdings in shares of Modine Manufacturing by 15.8% in the third quarter. Raymond James & Associates now owns 30,812 shares of the auto parts company's stock worth $4,092,000 after buying an additional 4,206 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of Modine Manufacturing by 29.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 180,259 shares of the auto parts company's stock worth $23,937,000 after buying an additional 40,936 shares during the last quarter. Finally, Jade Capital Advisors LLC purchased a new position in shares of Modine Manufacturing in the third quarter worth approximately $1,129,000. Hedge funds and other institutional investors own 95.23% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Oppenheimer raised their target price on shares of Modine Manufacturing from $144.00 to $145.00 and gave the stock an "outperform" rating in a research note on Thursday, October 31st.

Modine Manufacturing Stock Performance

NYSE MOD traded down $7.80 on Friday, reaching $86.29. 1,655,720 shares of the stock were exchanged, compared to its average volume of 1,366,189. Modine Manufacturing has a one year low of $78.58 and a one year high of $146.84. The firm has a market capitalization of $4.54 billion, a PE ratio of 28.96, a PEG ratio of 0.67 and a beta of 2.31. The company's 50-day simple moving average is $114.04 and its two-hundred day simple moving average is $119.71. The company has a current ratio of 1.87, a quick ratio of 1.18 and a debt-to-equity ratio of 0.38.

Modine Manufacturing (NYSE:MOD - Get Free Report) last released its earnings results on Tuesday, February 4th. The auto parts company reported $0.92 EPS for the quarter, topping analysts' consensus estimates of $0.79 by $0.13. Modine Manufacturing had a net margin of 6.31% and a return on equity of 24.25%. Analysts expect that Modine Manufacturing will post 3.88 EPS for the current fiscal year.

About Modine Manufacturing

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.