Wellington Management Group LLP Lowers Stock Position in Modine Manufacturing (NYSE:MOD)

Wellington Management Group LLP decreased its position in shares of Modine Manufacturing (NYSE:MOD - Free Report) by 53.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 699,021 shares of the auto parts company's stock after selling 812,364 shares during the quarter. Wellington Management Group LLP owned approximately 1.33% of Modine Manufacturing worth $92,823,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. West Oak Capital LLC increased its position in Modine Manufacturing by 300.0% in the 2nd quarter. West Oak Capital LLC now owns 600 shares of the auto parts company's stock valued at $60,000 after acquiring an additional 450 shares during the period. Fifth Third Bancorp acquired a new stake in Modine Manufacturing in the second quarter valued at $64,000. DekaBank Deutsche Girozentrale bought a new position in Modine Manufacturing during the 2nd quarter worth $68,000. Private Trust Co. NA lifted its holdings in Modine Manufacturing by 650.5% during the 3rd quarter. Private Trust Co. NA now owns 773 shares of the auto parts company's stock worth $103,000 after buying an additional 670 shares during the period. Finally, Banque Cantonale Vaudoise grew its position in shares of Modine Manufacturing by 9.8% in the 2nd quarter. Banque Cantonale Vaudoise now owns 1,165 shares of the auto parts company's stock valued at $117,000 after buying an additional 104 shares during the last quarter. Institutional investors own 95.23% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. DA Davidson increased their price objective on shares of Modine Manufacturing from $140.00 to $155.00 and gave the stock a "buy" rating in a research report on Tuesday, September 24th. Oppenheimer lifted their target price on Modine Manufacturing from $144.00 to $145.00 and gave the stock an "outperform" rating in a report on Thursday, October 31st. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $146.67.

Modine Manufacturing Stock Up 0.9 %

Shares of NYSE MOD traded up $1.15 during midday trading on Wednesday, hitting $131.50. 1,062,906 shares of the stock traded hands, compared to its average volume of 834,510. Modine Manufacturing has a one year low of $51.41 and a one year high of $146.84. The business has a 50 day moving average price of $130.47 and a two-hundred day moving average price of $115.23. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.09 and a current ratio of 1.77. The company has a market cap of $6.90 billion, a PE ratio of 43.11, a P/E/G ratio of 1.08 and a beta of 2.31.

Modine Manufacturing (NYSE:MOD - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The auto parts company reported $0.97 EPS for the quarter, beating analysts' consensus estimates of $0.92 by $0.05. The business had revenue of $658.00 million during the quarter, compared to analyst estimates of $646.86 million. Modine Manufacturing had a net margin of 6.59% and a return on equity of 23.96%. Modine Manufacturing's quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.89 EPS. On average, equities analysts predict that Modine Manufacturing will post 3.83 EPS for the current year.

Modine Manufacturing 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.