Modine Manufacturing Company $MOD Position Lowered by Frontier Capital Management Co. LLC

Frontier Capital Management Co. LLC reduced its position in Modine Manufacturing Company (NYSE:MOD) by 2.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 418,172 shares of the auto parts company’s stock after selling 11,559 shares during the quarter. Frontier Capital Management Co. LLC owned approximately 0.80% of Modine Manufacturing worth $41,190,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. BCS Private Wealth Management Inc. acquired a new position in shares of Modine Manufacturing in the 2nd quarter worth approximately $433,000. Qube Research & Technologies Ltd boosted its holdings in Modine Manufacturing by 106.3% in the second quarter. Qube Research & Technologies Ltd now owns 161,319 shares of the auto parts company’s stock worth $15,890,000 after purchasing an additional 83,105 shares during the period. Southernsun Asset Management LLC increased its stake in Modine Manufacturing by 17.7% during the second quarter. Southernsun Asset Management LLC now owns 276,969 shares of the auto parts company’s stock valued at $27,281,000 after purchasing an additional 41,625 shares during the last quarter. State Street Corp raised its holdings in shares of Modine Manufacturing by 4.2% during the second quarter. State Street Corp now owns 1,309,488 shares of the auto parts company’s stock worth $128,985,000 after purchasing an additional 53,351 shares during the period. Finally, Divisadero Street Capital Management LP raised its holdings in shares of Modine Manufacturing by 1.7% during the second quarter. Divisadero Street Capital Management LP now owns 78,300 shares of the auto parts company’s stock worth $7,713,000 after purchasing an additional 1,300 shares during the period. Institutional investors and hedge funds own 95.23% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. UBS Group initiated coverage on shares of Modine Manufacturing in a research report on Thursday, November 20th. They set a “buy” rating and a $173.00 price objective for the company. Zacks Research lowered Modine Manufacturing from a “strong-buy” rating to a “hold” rating in a report on Monday, September 29th. DA Davidson reissued a “buy” rating and issued a $200.00 price target on shares of Modine Manufacturing in a report on Wednesday, November 19th. Oppenheimer boosted their price objective on Modine Manufacturing from $145.00 to $180.00 and gave the company an “outperform” rating in a research report on Tuesday, October 14th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Modine Manufacturing in a research report on Monday. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $182.00.

Modine Manufacturing Stock Performance

Shares of NYSE MOD opened at $164.74 on Friday. Modine Manufacturing Company has a 12-month low of $64.79 and a 12-month high of $166.94. The company has a market cap of $8.67 billion, a PE ratio of 47.61, a P/E/G ratio of 1.04 and a beta of 1.69. The stock has a 50 day simple moving average of $152.51 and a 200-day simple moving average of $130.38. The company has a current ratio of 2.00, a quick ratio of 1.16 and a debt-to-equity ratio of 0.50.

Modine Manufacturing (NYSE:MOD) last posted its earnings results on Tuesday, October 28th. The auto parts company reported $1.06 EPS for the quarter, beating the consensus estimate of $0.97 by $0.09. The firm had revenue of $738.90 million for the quarter, compared to analysts’ expectations of $699.91 million. Modine Manufacturing had a return on equity of 23.19% and a net margin of 6.93%.The firm’s revenue was up 12.3% compared to the same quarter last year. During the same period last year, the firm earned $0.97 EPS. On average, equities research analysts forecast that Modine Manufacturing Company will post 3.88 EPS for the current year.

Insider Activity at Modine Manufacturing

In related news, CEO Neil David Brinker sold 31,871 shares of Modine Manufacturing stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $160.56, for a total transaction of $5,117,207.76. Following the sale, the chief executive officer directly owned 238,312 shares in the company, valued at $38,263,374.72. The trade was a 11.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 2.48% of the company’s stock.

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.