Modine Manufacturing (NYSE:MOD) Shares Sold by Divisadero Street Capital Management LP

Divisadero Street Capital Management LP trimmed its holdings in Modine Manufacturing (NYSE:MOD) by 15.8% in the second quarter, HoldingsChannel.com reports. The firm owned 42,080 shares of the auto parts company’s stock after selling 7,920 shares during the quarter. Divisadero Street Capital Management LP’s holdings in Modine Manufacturing were worth $4,216,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Principal Securities Inc. acquired a new stake in shares of Modine Manufacturing in the 4th quarter valued at about $29,000. UBS Group AG boosted its holdings in shares of Modine Manufacturing by 19.8% in the fourth quarter. UBS Group AG now owns 247,047 shares of the auto parts company’s stock valued at $14,749,000 after acquiring an additional 40,883 shares during the period. D.A. Davidson & CO. grew its position in shares of Modine Manufacturing by 42.8% during the fourth quarter. D.A. Davidson & CO. now owns 68,316 shares of the auto parts company’s stock worth $4,078,000 after acquiring an additional 20,476 shares during the last quarter. Corient Private Wealth LLC purchased a new position in shares of Modine Manufacturing during the fourth quarter worth approximately $548,000. Finally, Trexquant Investment LP acquired a new position in shares of Modine Manufacturing in the 4th quarter valued at $889,000. 95.23% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. DA Davidson raised their price objective on shares of Modine Manufacturing from $120.00 to $140.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Oppenheimer reissued an “outperform” rating and set a $135.00 price target on shares of Modine Manufacturing in a report on Thursday, September 12th. William Blair initiated coverage on Modine Manufacturing in a research note on Monday, July 29th. They set an “outperform” rating for the company. Finally, B. Riley lifted their target price on Modine Manufacturing from $125.00 to $140.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $138.33.

Insider Transactions at Modine Manufacturing

In other 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 value 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.40% of the company’s stock.

Modine Manufacturing Price Performance

Shares of NYSE MOD opened at $127.49 on Friday. The company’s fifty day moving average is $108.59 and its two-hundred day moving average is $100.46. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.11 and a current ratio of 1.80. The firm has a market capitalization of $6.68 billion, a P/E ratio of 42.08, a PEG ratio of 0.83 and a beta of 2.22. Modine Manufacturing has a one year low of $38.50 and a one year high of $127.58.

Modine Manufacturing (NYSE:MOD) last issued its earnings results on Tuesday, July 30th. The auto parts company reported $1.04 earnings per share for the quarter, topping the consensus estimate of $0.86 by $0.18. Modine Manufacturing had a net margin of 6.70% and a return on equity of 24.92%. The company had revenue of $661.50 million for the quarter, compared to analyst estimates of $633.55 million. During the same period in the prior year, the business posted $0.85 earnings per share. The firm’s revenue for the quarter was up 6.3% compared to the same quarter last year. Analysts forecast that Modine Manufacturing will post 3.85 EPS for the current fiscal 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.