Ritholtz Wealth Management Decreases Stake in Modine Manufacturing (NYSE:MOD)

Ritholtz Wealth Management lessened its holdings in shares of Modine Manufacturing (NYSE:MOD) by 1.4% in the 3rd quarter, Holdings Channel reports. The fund owned 17,480 shares of the auto parts company’s stock after selling 243 shares during the quarter. Ritholtz Wealth Management’s holdings in Modine Manufacturing were worth $2,321,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of MOD. Vanguard Group Inc. boosted its holdings in shares of Modine Manufacturing by 27.3% during the 1st quarter. Vanguard Group Inc. now owns 3,909,016 shares of the auto parts company’s stock worth $372,099,000 after purchasing an additional 838,460 shares during the last quarter. Capital International Investors boosted its stake in Modine Manufacturing by 40.6% during the first quarter. Capital International Investors now owns 1,425,845 shares of the auto parts company’s stock worth $135,726,000 after buying an additional 411,946 shares during the last quarter. Driehaus Capital Management LLC boosted its stake in Modine Manufacturing by 32.8% during the second quarter. Driehaus Capital Management LLC now owns 1,101,932 shares of the auto parts company’s stock worth $110,403,000 after buying an additional 272,174 shares during the last quarter. Emerald Advisers LLC purchased a new stake in Modine Manufacturing in the 2nd quarter valued at $26,064,000. Finally, Public Employees Retirement Association of Colorado raised its holdings in shares of Modine Manufacturing by 4,215.8% during the 2nd quarter. Public Employees Retirement Association of Colorado now owns 260,547 shares of the auto parts company’s stock worth $26,104,000 after acquiring an additional 254,510 shares during the period. Institutional investors and hedge funds own 95.23% of the company’s stock.

Modine Manufacturing Trading Up 2.5 %

NYSE MOD opened at $134.20 on Friday. The firm’s 50-day moving average is $116.30 and its two-hundred day moving average is $105.10. Modine Manufacturing has a 12 month low of $38.50 and a 12 month high of $138.99. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.80 and a quick ratio of 1.11. The stock has a market capitalization of $7.03 billion, a P/E ratio of 44.29, a PEG ratio of 1.02 and a beta of 2.22.

Modine Manufacturing (NYSE:MOD) last released its quarterly earnings results on Tuesday, July 30th. The auto parts company reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.86 by $0.18. The business had revenue of $661.50 million for the quarter, compared to the consensus estimate of $633.55 million. Modine Manufacturing had a net margin of 6.70% and a return on equity of 24.92%. The business’s revenue was up 6.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.85 EPS. On average, sell-side analysts anticipate that Modine Manufacturing will post 3.86 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Marsha C. Williams sold 34,400 shares of the business’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $109.74, for a total transaction of $3,775,056.00. Following the completion of the transaction, the director now directly owns 144,038 shares of the company’s stock, valued at $15,806,730.12. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.40% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages have recently weighed in on MOD. DA Davidson boosted their price target on shares of Modine Manufacturing from $140.00 to $155.00 and gave the company a “buy” rating in a research report on Tuesday, September 24th. B. Riley boosted 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. Oppenheimer restated an “outperform” rating and set a $135.00 price target on shares of Modine Manufacturing in a report on Thursday, September 12th. Finally, William Blair assumed coverage on shares of Modine Manufacturing in a research report on Monday, July 29th. They set an “outperform” rating on the stock. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $143.33.

About Modine Manufacturing

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.