Oliver Luxxe Assets LLC Lowers Stock Holdings in Modine Manufacturing (NYSE:MOD)

Oliver Luxxe Assets LLC cut its stake in shares of Modine Manufacturing (NYSE:MOD) by 13.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 44,169 shares of the auto parts company’s stock after selling 6,951 shares during the period. Oliver Luxxe Assets LLC owned approximately 0.08% of Modine Manufacturing worth $5,121,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in MOD. DekaBank Deutsche Girozentrale acquired a new position in Modine Manufacturing in the 2nd quarter valued at $68,000. Private Trust Co. NA boosted its holdings in shares of Modine Manufacturing by 650.5% in the third quarter. Private Trust Co. NA now owns 773 shares of the auto parts company’s stock valued at $103,000 after acquiring an additional 670 shares in the last quarter. Farther Finance Advisors LLC increased its stake in shares of Modine Manufacturing by 90.9% during the third quarter. Farther Finance Advisors LLC now owns 1,031 shares of the auto parts company’s stock worth $137,000 after acquiring an additional 491 shares during the period. KBC Group NV raised its holdings in Modine Manufacturing by 47.8% during the third quarter. KBC Group NV now owns 1,456 shares of the auto parts company’s stock worth $193,000 after purchasing an additional 471 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd acquired a new stake in Modine Manufacturing in the third quarter valued at about $196,000. 95.23% of the stock is owned by institutional investors and hedge funds.

Modine Manufacturing Price Performance

Shares of MOD stock traded up $0.66 during midday trading on Monday, reaching $123.10. 629,070 shares of the company traded hands, compared to its average volume of 535,017. The firm’s 50 day simple moving average is $126.94 and its two-hundred day simple moving average is $118.45. The firm has a market cap of $6.46 billion, a PE ratio of 40.36, a price-to-earnings-growth ratio of 1.01 and a beta of 2.31. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.77 and a quick ratio of 1.09. Modine Manufacturing has a 1-year low of $58.78 and a 1-year high of $146.84.

Modine Manufacturing (NYSE:MOD) 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 the consensus estimate of $0.92 by $0.05. The firm 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%. Modine Manufacturing’s revenue was up 6.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.89 earnings per share. On average, equities research analysts expect that Modine Manufacturing will post 3.83 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on MOD shares. DA Davidson increased their target price on Modine Manufacturing from $140.00 to $155.00 and gave the stock a “buy” rating in a research note on Tuesday, September 24th. Oppenheimer increased their price objective on Modine Manufacturing from $144.00 to $145.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $146.67.

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.