Modine Manufacturing (NYSE:MOD) Shares Sold by Chartwell Investment Partners LLC

Chartwell Investment Partners LLC decreased its holdings in Modine Manufacturing (NYSE:MOD) by 14.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 16,984 shares of the auto parts company’s stock after selling 2,900 shares during the period. Chartwell Investment Partners LLC’s holdings in Modine Manufacturing were worth $2,256,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in MOD. Janney Montgomery Scott LLC acquired a new stake in shares of Modine Manufacturing during the 1st quarter worth approximately $833,000. SG Americas Securities LLC acquired a new stake in shares of Modine Manufacturing during the 1st quarter worth approximately $744,000. Oppenheimer & Co. Inc. increased its holdings in shares of Modine Manufacturing by 43.7% during the 1st quarter. Oppenheimer & Co. Inc. now owns 4,915 shares of the auto parts company’s stock worth $468,000 after buying an additional 1,495 shares during the last quarter. US Bancorp DE increased its holdings in shares of Modine Manufacturing by 58.3% during the 1st quarter. US Bancorp DE now owns 5,538 shares of the auto parts company’s stock worth $527,000 after buying an additional 2,040 shares during the last quarter. Finally, ProShare Advisors LLC increased its holdings in shares of Modine Manufacturing by 8.5% during the 1st quarter. ProShare Advisors LLC now owns 9,251 shares of the auto parts company’s stock worth $881,000 after buying an additional 727 shares during the last quarter. Institutional investors and hedge funds own 95.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on MOD. William Blair began coverage on shares of Modine Manufacturing in a report on Monday, July 29th. They issued an “outperform” rating for the company. Oppenheimer lifted their target price on shares of Modine Manufacturing from $144.00 to $145.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. B. Riley lifted their target price on shares of Modine Manufacturing from $125.00 to $140.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Finally, DA Davidson lifted their target price on shares of Modine Manufacturing from $140.00 to $155.00 and gave the company a “buy” rating in a report on Tuesday, September 24th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Modine Manufacturing has an average rating of “Moderate Buy” and an average target price of $146.67.

Insider Transactions at Modine Manufacturing

In other news, Director Marsha C. Williams sold 34,400 shares of Modine Manufacturing stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $109.74, for a total transaction of $3,775,056.00. Following the completion of the sale, the director now directly owns 144,038 shares of the company’s stock, valued at approximately $15,806,730.12. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.40% of the company’s stock.

Modine Manufacturing Stock Performance

Shares of MOD stock opened at $124.81 on Wednesday. The company has a quick ratio of 1.09, a current ratio of 1.77 and a debt-to-equity ratio of 0.41. Modine Manufacturing has a 52 week low of $44.69 and a 52 week high of $141.72. The stock has a market capitalization of $6.55 billion, a PE ratio of 43.33, a P/E/G ratio of 0.98 and a beta of 2.25. The firm has a 50 day moving average of $123.42 and a two-hundred day moving average of $110.29.

Modine Manufacturing (NYSE:MOD) last issued its quarterly earnings results on Tuesday, October 29th. The auto parts company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.92 by $0.05. Modine Manufacturing had a net margin of 6.59% and a return on equity of 23.96%. The company had revenue of $658.00 million during the quarter, compared to analysts’ expectations of $646.86 million. During the same quarter last year, the company posted $0.89 EPS. The firm’s revenue was up 6.0% compared to the same quarter last year. On average, research analysts predict that Modine Manufacturing will post 3.83 EPS for the current fiscal 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.