Modine Manufacturing (NYSE:MOD) Shares Sold by American Century Companies Inc.

American Century Companies Inc. trimmed its holdings in shares of Modine Manufacturing (NYSE:MOD) by 30.7% in the second quarter, HoldingsChannel reports. The firm owned 444,297 shares of the auto parts company’s stock after selling 196,470 shares during the period. American Century Companies Inc.’s holdings in Modine Manufacturing were worth $44,514,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Choreo LLC purchased a new position in Modine Manufacturing during the second quarter worth $698,000. Emerald Advisers LLC acquired a new stake in shares of Modine Manufacturing during the second quarter valued at $26,064,000. Emerald Mutual Fund Advisers Trust purchased a new stake in Modine Manufacturing during the 2nd quarter worth about $21,340,000. Arizona State Retirement System raised its stake in Modine Manufacturing by 1.8% in the 2nd quarter. Arizona State Retirement System now owns 13,886 shares of the auto parts company’s stock valued at $1,391,000 after purchasing an additional 246 shares during the last quarter. Finally, TD Asset Management Inc lifted its holdings in Modine Manufacturing by 51.2% in the 2nd quarter. TD Asset Management Inc now owns 13,000 shares of the auto parts company’s stock valued at $1,302,000 after purchasing an additional 4,400 shares in the last quarter. Hedge funds and other institutional investors own 95.23% of the company’s stock.

Wall Street Analysts Forecast Growth

MOD has been the subject of a number of recent research reports. DA Davidson lifted their price target on shares of Modine Manufacturing from $120.00 to $140.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. B. Riley increased their price target 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. Oppenheimer reissued an “outperform” rating and set a $135.00 price objective on shares of Modine Manufacturing in a research note on Thursday, September 12th. Finally, William Blair started coverage on Modine Manufacturing in a research report on Monday, July 29th. They issued an “outperform” rating on the stock. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $138.33.

Modine Manufacturing Trading Up 1.6 %

NYSE MOD opened at $112.80 on Tuesday. The firm has a market capitalization of $5.91 billion, a price-to-earnings ratio of 37.23, a PEG ratio of 0.83 and a beta of 2.22. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.11 and a current ratio of 1.80. Modine Manufacturing has a one year low of $38.50 and a one year high of $123.92. The company’s 50 day moving average price is $107.79 and its 200 day moving average price is $99.98.

Modine Manufacturing (NYSE:MOD) last issued its earnings results on Tuesday, July 30th. The auto parts company reported $1.04 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 for the quarter was up 6.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.85 EPS. On average, sell-side analysts predict that Modine Manufacturing will post 3.85 EPS for the current year.

Insider Transactions at Modine Manufacturing

In other news, Director Marsha C. Williams sold 34,400 shares of the stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $109.74, for a total value of $3,775,056.00. Following the completion of the sale, the director now owns 144,038 shares in the company, valued at $15,806,730.12. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 2.40% of the company’s stock.

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.