Navellier & Associates Inc. Sells 16,145 Shares of Modine Manufacturing (NYSE:MOD)

Navellier & Associates Inc. reduced its position in Modine Manufacturing (NYSE:MOD) by 70.3% in the third quarter, Holdings Channel.com reports. The fund owned 6,818 shares of the auto parts company’s stock after selling 16,145 shares during the period. Navellier & Associates Inc.’s holdings in Modine Manufacturing were worth $905,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Acadian Asset Management LLC bought a new stake in shares of Modine Manufacturing in the 1st quarter worth $37,000. Opal Wealth Advisors LLC purchased a new stake in shares of Modine Manufacturing during the second quarter valued at $51,000. West Oak Capital LLC increased its holdings 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 worth $60,000 after buying an additional 450 shares in the last quarter. Fifth Third Bancorp purchased a new position in Modine Manufacturing in the 2nd quarter worth about $64,000. Finally, DekaBank Deutsche Girozentrale bought a new position in Modine Manufacturing during the 2nd quarter valued at about $68,000. 95.23% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

MOD has been the subject of several research reports. William Blair initiated coverage on shares of Modine Manufacturing in a report on Monday, July 29th. They set an “outperform” rating for the company. DA Davidson increased their price target on Modine Manufacturing from $140.00 to $155.00 and gave the company a “buy” rating in a report on Tuesday, September 24th. Oppenheimer lifted their price objective on Modine Manufacturing from $144.00 to $145.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Finally, B. Riley increased their price objective on shares of Modine Manufacturing from $125.00 to $140.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $146.67.

Modine Manufacturing Price Performance

NYSE MOD opened at $140.85 on Friday. 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 business’s fifty day moving average is $127.50 and its 200 day moving average is $112.00. The company has a market capitalization of $7.39 billion, a PE ratio of 46.18, a price-to-earnings-growth ratio of 1.04 and a beta of 2.25. Modine Manufacturing has a fifty-two week low of $48.88 and a fifty-two week high of $142.12.

Modine Manufacturing (NYSE:MOD) last announced its quarterly earnings data on Tuesday, October 29th. The auto parts company reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.05. Modine Manufacturing had a return on equity of 23.96% and a net margin of 6.59%. The company had revenue of $658.00 million during the quarter, compared to the consensus estimate of $646.86 million. During the same period in the previous year, the company posted $0.89 EPS. The firm’s revenue was up 6.0% on a year-over-year basis. Sell-side analysts predict that Modine Manufacturing will post 3.83 earnings per share for the current year.

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.