First Eagle Investment Management LLC Sells 2,800 Shares of Modine Manufacturing (NYSE:MOD)

First Eagle Investment Management LLC decreased its holdings in shares of Modine Manufacturing (NYSE:MOD) by 5.0% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 53,033 shares of the auto parts company’s stock after selling 2,800 shares during the period. First Eagle Investment Management LLC owned 0.10% of Modine Manufacturing worth $5,313,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Principal Securities Inc. purchased a new stake in shares of Modine Manufacturing during the fourth quarter valued at approximately $29,000. Acadian Asset Management LLC purchased a new position in Modine Manufacturing in the 1st quarter worth about $37,000. Opal Wealth Advisors LLC bought a new position in Modine Manufacturing during the 2nd quarter valued at about $51,000. West Oak Capital LLC boosted its holdings in shares of Modine Manufacturing by 300.0% during the 2nd quarter. West Oak Capital LLC now owns 600 shares of the auto parts company’s stock valued at $60,000 after acquiring an additional 450 shares during the last quarter. Finally, Fifth Third Bancorp bought a new stake in shares of Modine Manufacturing in the second quarter worth approximately $64,000. 95.23% of the stock is currently owned by hedge funds and other institutional investors.

Modine Manufacturing Trading Up 0.6 %

Shares of MOD stock opened at $128.32 on Friday. 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 company has a market cap of $6.72 billion, a price-to-earnings ratio of 42.35, a PEG ratio of 0.83 and a beta of 2.22. Modine Manufacturing has a 1 year low of $38.50 and a 1 year high of $130.53. The firm has a fifty day moving average price of $109.01 and a 200-day moving average price of $100.71.

Modine Manufacturing (NYSE:MOD) last posted its quarterly earnings data on Tuesday, July 30th. The auto parts company reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.86 by $0.18. The firm had revenue of $661.50 million for the quarter, compared to analysts’ expectations of $633.55 million. Modine Manufacturing had a return on equity of 24.92% and a net margin of 6.70%. The business’s quarterly 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. As a group, equities analysts predict that Modine Manufacturing will post 3.85 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Marsha C. Williams sold 34,400 shares of the firm’s stock in a transaction 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 sale, the director now directly owns 144,038 shares in the company, valued at approximately $15,806,730.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.40% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. B. Riley increased their price objective on shares of Modine Manufacturing from $125.00 to $140.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. William Blair assumed coverage on Modine Manufacturing in a research note on Monday, July 29th. They issued an “outperform” rating on the stock. DA Davidson upped their price objective on Modine Manufacturing from $120.00 to $140.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Finally, Oppenheimer reissued an “outperform” rating and issued a $135.00 target price on shares of Modine Manufacturing in a research report on Thursday, September 12th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Modine Manufacturing has a consensus rating of “Moderate Buy” and an average target price of $138.33.

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.