Modine Manufacturing Company (NYSE:MOD) Holdings Lowered by Teacher Retirement System of Texas

Teacher Retirement System of Texas trimmed its stake in shares of Modine Manufacturing Company (NYSE:MOD) by 14.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,290 shares of the auto parts company’s stock after selling 1,229 shares during the period. Teacher Retirement System of Texas’ holdings in Modine Manufacturing were worth $560,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Proficio Capital Partners LLC acquired a new position in Modine Manufacturing during the fourth quarter valued at $1,962,000. Swiss National Bank raised its position in Modine Manufacturing by 0.8% during the fourth quarter. Swiss National Bank now owns 98,000 shares of the auto parts company’s stock valued at $11,361,000 after buying an additional 800 shares during the period. Skandinaviska Enskilda Banken AB publ raised its position in Modine Manufacturing by 567.6% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 227 shares of the auto parts company’s stock valued at $27,000 after buying an additional 193 shares during the period. Natixis Advisors LLC raised its position in Modine Manufacturing by 16.0% during the fourth quarter. Natixis Advisors LLC now owns 16,204 shares of the auto parts company’s stock valued at $1,879,000 after buying an additional 2,234 shares during the period. Finally, Envestnet Portfolio Solutions Inc. raised its position in Modine Manufacturing by 8.2% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 1,791 shares of the auto parts company’s stock valued at $208,000 after buying an additional 136 shares during the period. 95.23% of the stock is owned by hedge funds and other institutional investors.

Modine Manufacturing Stock Up 1.7%

MOD opened at $91.57 on Thursday. Modine Manufacturing Company has a fifty-two week low of $64.79 and a fifty-two week high of $146.84. The business has a 50-day moving average of $96.35 and a 200-day moving average of $94.67. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.78 and a quick ratio of 1.15. The company has a market capitalization of $4.81 billion, a PE ratio of 26.77, a price-to-earnings-growth ratio of 0.59 and a beta of 2.04.

Modine Manufacturing (NYSE:MOD) last posted its quarterly earnings results on Tuesday, May 20th. The auto parts company reported $1.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.96 by $0.16. The company had revenue of $647.20 million during the quarter, compared to the consensus estimate of $633.13 million. Modine Manufacturing had a return on equity of 25.31% and a net margin of 7.12%. The business’s quarterly revenue was up 7.2% on a year-over-year basis. During the same period last year, the business earned $0.77 EPS. Equities research analysts forecast that Modine Manufacturing Company will post 3.88 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently weighed in on MOD shares. KeyCorp started coverage on Modine Manufacturing in a research report on Thursday, June 12th. They set an “overweight” rating and a $125.00 price target on the stock. Wall Street Zen raised Modine Manufacturing from a “hold” rating to a “buy” rating in a research report on Saturday, June 7th. Finally, Oppenheimer upped their target price on Modine Manufacturing from $121.00 to $122.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 1st. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $135.50.

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.