F M Investments LLC Sells 24,610 Shares of Modine Manufacturing (NYSE:MOD)

F M Investments LLC cut its stake in Modine Manufacturing (NYSE:MOD) by 10.9% in the 3rd quarter, Holdings Channel reports. The firm owned 200,963 shares of the auto parts company’s stock after selling 24,610 shares during the period. Modine Manufacturing makes up about 0.9% of F M Investments LLC’s portfolio, making the stock its 17th biggest position. F M Investments LLC’s holdings in Modine Manufacturing were worth $26,686,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. SG Americas Securities LLC increased its stake in shares of Modine Manufacturing by 311.1% in the 2nd quarter. SG Americas Securities LLC now owns 32,128 shares of the auto parts company’s stock worth $3,219,000 after acquiring an additional 24,312 shares in the last quarter. Fred Alger Management LLC increased its stake in Modine Manufacturing by 5.1% during the 2nd quarter. Fred Alger Management LLC now owns 369,840 shares of the auto parts company’s stock valued at $37,054,000 after purchasing an additional 17,889 shares in the last quarter. Janney Montgomery Scott LLC purchased a new stake in shares of Modine Manufacturing during the 1st quarter valued at about $833,000. State Board of Administration of Florida Retirement System boosted its holdings in shares of Modine Manufacturing by 327.8% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 62,841 shares of the auto parts company’s stock valued at $5,982,000 after acquiring an additional 48,150 shares during the last quarter. Finally, US Bancorp DE boosted 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 valued at $527,000 after acquiring an additional 2,040 shares during the last quarter. 95.23% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on MOD. B. Riley raised their price target 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 raised their price target on shares of Modine Manufacturing from $144.00 to $145.00 and gave the company an “outperform” rating in a report on Thursday. William Blair initiated coverage on shares of Modine Manufacturing in a report on Monday, July 29th. They set an “outperform” rating on the stock. Finally, DA Davidson raised their price objective on shares of Modine Manufacturing from $140.00 to $155.00 and gave the stock a “buy” rating in a report on Tuesday, September 24th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $146.67.

Modine Manufacturing Stock Performance

MOD opened at $111.63 on Friday. The company has a current ratio of 1.80, a quick ratio of 1.11 and a debt-to-equity ratio of 0.51. The company has a market cap of $5.85 billion, a price-to-earnings ratio of 36.59, a PEG ratio of 0.92 and a beta of 2.22. The company’s 50 day moving average is $122.85 and its 200 day moving average is $108.54. Modine Manufacturing has a 12-month low of $39.50 and a 12-month high of $141.72.

Modine Manufacturing (NYSE:MOD) last issued its quarterly earnings results on Tuesday, October 29th. The auto parts company reported $0.97 earnings per share 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 24.79%. The business had revenue of $658.00 million for the quarter, compared to the consensus estimate of $646.86 million. During the same quarter in the previous year, the firm earned $0.89 earnings per share. The company’s revenue for the quarter was up 6.0% on a year-over-year basis. On average, equities research analysts predict that Modine Manufacturing will post 3.86 EPS for the current year.

Insider Buying and Selling at Modine Manufacturing

In other Modine Manufacturing news, Director Marsha C. Williams sold 34,400 shares of Modine Manufacturing stock in a transaction that occurred 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 transaction, the director now owns 144,038 shares of the company’s stock, valued at $15,806,730.12. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 2.40% of the company’s stock.

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.