Cannon Global Investment Management LLC Has $465,000 Stake in Modine Manufacturing (NYSE:MOD)

Cannon Global Investment Management LLC decreased its stake in shares of Modine Manufacturing (NYSE:MOD) by 12.5% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 3,500 shares of the auto parts company’s stock after selling 500 shares during the period. Cannon Global Investment Management LLC’s holdings in Modine Manufacturing were worth $465,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. boosted its stake in 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 valued at $372,099,000 after purchasing an additional 838,460 shares during the period. Capital International Investors lifted its position in shares of Modine Manufacturing by 40.6% in the 1st quarter. Capital International Investors now owns 1,425,845 shares of the auto parts company’s stock worth $135,726,000 after acquiring an additional 411,946 shares during the period. Driehaus Capital Management LLC lifted its position in shares of Modine Manufacturing by 32.8% in the 2nd quarter. Driehaus Capital Management LLC now owns 1,101,932 shares of the auto parts company’s stock worth $110,403,000 after acquiring an additional 272,174 shares during the period. Fred Alger Management LLC lifted its position in shares of Modine Manufacturing by 5.1% in the 2nd quarter. Fred Alger Management LLC now owns 369,840 shares of the auto parts company’s stock worth $37,054,000 after acquiring an additional 17,889 shares during the period. Finally, Emerald Advisers LLC lifted its position in shares of Modine Manufacturing by 1.6% in the 3rd quarter. Emerald Advisers LLC now owns 264,349 shares of the auto parts company’s stock worth $35,103,000 after acquiring an additional 4,199 shares during the period. Institutional investors and hedge funds own 95.23% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on the company. B. Riley raised their price objective on Modine Manufacturing from $125.00 to $140.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Oppenheimer raised their price objective on Modine Manufacturing from $144.00 to $145.00 and gave the stock an “outperform” rating in a research report on Thursday. DA Davidson raised their target price on Modine Manufacturing from $140.00 to $155.00 and gave the stock a “buy” rating in a research report on Tuesday, September 24th. Finally, William Blair assumed coverage on Modine Manufacturing in a research report on Monday, July 29th. They set an “outperform” rating for the company. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $146.67.

Insider Activity at Modine Manufacturing

In related news, Director Marsha C. Williams sold 34,400 shares of the firm’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 sale, the director now directly owns 144,038 shares of the company’s stock, valued at $15,806,730.12. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 2.40% of the company’s stock.

Modine Manufacturing Price Performance

Shares of Modine Manufacturing stock traded down $6.14 during midday trading on Friday, hitting $111.63. 982,902 shares of the company were exchanged, compared to its average volume of 638,140. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.77 and a quick ratio of 1.11. The firm has a market cap of $5.86 billion, a P/E ratio of 36.60, a PEG ratio of 0.90 and a beta of 2.25. Modine Manufacturing has a 52 week low of $39.50 and a 52 week high of $141.72. The firm has a 50 day simple moving average of $122.85 and a 200-day simple moving average of $108.66.

Modine Manufacturing (NYSE:MOD) last posted its earnings results on Tuesday, October 29th. The auto parts company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.92 by $0.05. Modine Manufacturing had a return on equity of 23.96% and a net margin of 6.59%. The business had revenue of $658.00 million during the quarter, compared to the consensus estimate of $646.86 million. During the same quarter last year, the company earned $0.89 EPS. Modine Manufacturing’s revenue was up 6.0% on a year-over-year basis. Research analysts forecast that Modine Manufacturing will post 3.85 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.