Modine Manufacturing (NYSE:MOD) Shares Sold by Inspire Investing LLC

Inspire Investing LLC reduced its holdings in Modine Manufacturing (NYSE:MOD) by 5.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,558 shares of the auto parts company’s stock after selling 225 shares during the quarter. Inspire Investing LLC’s holdings in Modine Manufacturing were worth $356,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Principal Securities Inc. purchased a new position in Modine Manufacturing in the fourth quarter worth $29,000. UBS Group AG increased its holdings in shares of Modine Manufacturing by 19.8% in the 4th quarter. UBS Group AG now owns 247,047 shares of the auto parts company’s stock valued at $14,749,000 after purchasing an additional 40,883 shares in the last quarter. Corient Private Wealth LLC purchased a new stake in Modine Manufacturing during the fourth quarter worth about $548,000. Trexquant Investment LP acquired a new position in Modine Manufacturing during the fourth quarter worth about $889,000. Finally, Assetmark Inc. increased its holdings in Modine Manufacturing by 12.5% in the fourth quarter. Assetmark Inc. now owns 6,069 shares of the auto parts company’s stock valued at $362,000 after buying an additional 673 shares in the last quarter. 95.23% of the stock is currently owned by hedge funds and other institutional investors.

Modine Manufacturing Stock Up 0.6 %

Shares of NYSE MOD opened at $128.32 on Friday. Modine Manufacturing has a 12-month low of $38.50 and a 12-month high of $130.53. The company has a market capitalization of $6.72 billion, a PE ratio of 42.35, a price-to-earnings-growth ratio of 0.83 and a beta of 2.22. 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 firm’s 50-day moving average is $109.01 and its two-hundred day moving average is $100.79.

Modine Manufacturing (NYSE:MOD) last announced its quarterly earnings data on Tuesday, July 30th. The auto parts company reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.85 earnings per share. Equities analysts anticipate that Modine Manufacturing will post 3.85 EPS for the current fiscal year.

Insider Activity

In related 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 transaction of $3,775,056.00. Following the transaction, the director now directly owns 144,038 shares in the company, valued at $15,806,730.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.40% of the company’s stock.

Analysts Set New Price Targets

MOD has been the topic of a number of research analyst reports. Oppenheimer reiterated an “outperform” rating and set a $135.00 target price on shares of Modine Manufacturing in a research report on Thursday, September 12th. William Blair started coverage on shares of Modine Manufacturing in a report on Monday, July 29th. They issued an “outperform” rating on the stock. DA Davidson upped their price target on shares of Modine Manufacturing from $120.00 to $140.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Finally, B. Riley upped 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. One research 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, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $138.33.

About Modine Manufacturing

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.