Royce & Associates LP lowered its position in shares of Modine Manufacturing (NYSE:MOD - Free Report) by 24.0% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 210,247 shares of the auto parts company's stock after selling 66,340 shares during the quarter. Royce & Associates LP owned 0.40% of Modine Manufacturing worth $27,919,000 at the end of the most recent reporting period.
Several other hedge funds also recently made changes to their positions in MOD. Banque Cantonale Vaudoise increased its position in shares of Modine Manufacturing by 9.8% in the second quarter. Banque Cantonale Vaudoise now owns 1,165 shares of the auto parts company's stock valued at $117,000 after acquiring an additional 104 shares during the last quarter. Xponance Inc. raised its stake in shares of Modine Manufacturing by 4.9% during the 2nd quarter. Xponance Inc. now owns 3,270 shares of the auto parts company's stock worth $328,000 after purchasing an additional 153 shares in the last quarter. SummerHaven Investment Management LLC raised its stake in shares of Modine Manufacturing by 0.7% during the 2nd quarter. SummerHaven Investment Management LLC now owns 21,194 shares of the auto parts company's stock worth $2,123,000 after purchasing an additional 155 shares in the last quarter. Ameritas Advisory Services LLC boosted its holdings in shares of Modine Manufacturing by 2.9% in the 2nd quarter. Ameritas Advisory Services LLC now owns 7,000 shares of the auto parts company's stock valued at $701,000 after buying an additional 200 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC grew its stake in shares of Modine Manufacturing by 7.3% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 3,132 shares of the auto parts company's stock valued at $314,000 after buying an additional 212 shares in the last quarter. 95.23% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
A number of analysts have commented on MOD shares. B. Riley increased their price target on shares of Modine Manufacturing from $125.00 to $140.00 and gave the company a "buy" rating in a research note on Thursday, August 1st. Oppenheimer raised their target price on shares of Modine Manufacturing from $144.00 to $145.00 and gave the company an "outperform" rating in a research note on Thursday, October 31st. William Blair started coverage on Modine Manufacturing in a research report on Monday, July 29th. They set an "outperform" rating on the stock. Finally, DA Davidson raised their price objective on Modine Manufacturing from $140.00 to $155.00 and gave the company a "buy" rating in a research report on Tuesday, September 24th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $146.67.
Read Our Latest Research Report on MOD
Modine Manufacturing Stock Performance
Shares of MOD stock traded up $3.10 during midday trading on Friday, hitting $123.27. 637,914 shares of the company were exchanged, compared to its average volume of 854,048. Modine Manufacturing has a 52 week low of $48.10 and a 52 week high of $141.72. The firm has a market capitalization of $6.47 billion, a P/E ratio of 40.38, a PEG ratio of 0.98 and a beta of 2.25. The firm's 50 day moving average price is $125.01 and its two-hundred day moving average price is $110.87. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.09 and a current ratio of 1.77.
Modine Manufacturing (NYSE:MOD - Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The auto parts company reported $0.97 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.92 by $0.05. The company had revenue of $658.00 million during the quarter, compared to analysts' expectations of $646.86 million. Modine Manufacturing had a return on equity of 23.96% and a net margin of 6.59%. The business's revenue was up 6.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.89 earnings per share. As a group, equities research analysts anticipate that Modine Manufacturing will post 3.83 earnings per share for the current year.
Modine Manufacturing Profile
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Free Report)
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.
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