ClariVest Asset Management LLC Decreases Stake in Modine Manufacturing (NYSE:MOD)

ClariVest Asset Management LLC lowered its position in Modine Manufacturing (NYSE:MOD) by 0.8% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 27,848 shares of the auto parts company’s stock after selling 238 shares during the quarter. ClariVest Asset Management LLC’s holdings in Modine Manufacturing were worth $2,651,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the company. Legato Capital Management LLC boosted its position in shares of Modine Manufacturing by 193.7% during the 4th quarter. Legato Capital Management LLC now owns 24,317 shares of the auto parts company’s stock worth $1,452,000 after purchasing an additional 16,037 shares in the last quarter. Hennessy Advisors Inc. boosted its position in shares of Modine Manufacturing by 20.4% in the 1st quarter. Hennessy Advisors Inc. now owns 714,400 shares of the auto parts company’s stock worth $68,004,000 after buying an additional 121,200 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Modine Manufacturing by 3.2% in the 3rd quarter. Vanguard Group Inc. now owns 3,056,893 shares of the auto parts company’s stock worth $139,853,000 after buying an additional 95,255 shares in the last quarter. 1492 Capital Management LLC purchased a new stake in shares of Modine Manufacturing in the 4th quarter worth about $1,284,000. Finally, Oliver Luxxe Assets LLC purchased a new stake in shares of Modine Manufacturing in the 1st quarter worth about $2,775,000. Hedge funds and other institutional investors own 95.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on MOD shares. Oppenheimer boosted their price objective on shares of Modine Manufacturing from $105.00 to $110.00 and gave the stock an “outperform” rating in a research report on Thursday, May 23rd. DA Davidson boosted their price objective on shares of Modine Manufacturing from $110.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, May 24th. Finally, B. Riley reiterated a “buy” rating and issued a $125.00 price objective on shares of Modine Manufacturing in a research report on Thursday, June 27th.

Modine Manufacturing Trading Down 0.6 %

NYSE:MOD traded down $0.69 on Friday, reaching $107.80. The stock had a trading volume of 1,245,973 shares, compared to its average volume of 730,146. The company has a market cap of $5.65 billion, a price-to-earnings ratio of 35.58, a P/E/G ratio of 0.86 and a beta of 2.27. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.64 and a quick ratio of 0.98. The firm’s fifty day moving average is $100.30 and its two-hundred day moving average is $87.49. Modine Manufacturing has a 12-month low of $34.91 and a 12-month high of $114.74.

Modine Manufacturing (NYSE:MOD) last released its earnings results on Tuesday, May 21st. The auto parts company reported $0.77 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.02). The firm had revenue of $603.50 million during the quarter, compared to analysts’ expectations of $605.44 million. Modine Manufacturing had a net margin of 6.71% and a return on equity of 24.69%. Modine Manufacturing’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same quarter last year, the company posted $0.67 earnings per share. Equities analysts expect that Modine Manufacturing will post 3.7 EPS for the current fiscal year.

Modine Manufacturing Company Profile

Modine Manufacturing Company provides engineered heat transfer systems and heat transfer components for use in on- and off-highway original equipment manufacturer (OEM) vehicular applications. It operates through Climate Solutions and Performance Technologies segments. The company offers gas-fired, hydronic, electric, and oil-fired unit heaters; indoor and outdoor duct furnaces; infrared units; perimeter heating products, such as commercial fin-tube radiation, cabinet unit heaters, and convectors; roof-mounted direct- and indirect-fired makeup air units; unit ventilators; single packaged vertical units; precision air conditioning units for data center applications; air handler units; fan walls; chillers; ceiling cassettes; hybrid fan coils; and condensers and condensing units.