Artisan Partners Limited Partnership Purchases 189,331 Shares of Modine Manufacturing Company $MOD

Artisan Partners Limited Partnership lifted its position in shares of Modine Manufacturing Company (NYSE:MOD) by 20.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,131,110 shares of the auto parts company’s stock after buying an additional 189,331 shares during the period. Artisan Partners Limited Partnership owned about 2.15% of Modine Manufacturing worth $160,799,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of MOD. Vanguard Group Inc. lifted its stake in Modine Manufacturing by 1.9% in the 3rd quarter. Vanguard Group Inc. now owns 5,080,874 shares of the auto parts company’s stock valued at $722,297,000 after acquiring an additional 97,035 shares in the last quarter. Wasatch Advisors LP raised its holdings in shares of Modine Manufacturing by 1.4% in the second quarter. Wasatch Advisors LP now owns 1,792,413 shares of the auto parts company’s stock valued at $176,553,000 after purchasing an additional 23,955 shares during the last quarter. State Street Corp lifted its position in shares of Modine Manufacturing by 4.2% in 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 in the last quarter. Geode Capital Management LLC lifted its position in shares of Modine Manufacturing by 1.2% in the second quarter. Geode Capital Management LLC now owns 1,214,976 shares of the auto parts company’s stock worth $119,690,000 after purchasing an additional 14,096 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in Modine Manufacturing by 14.9% during the third quarter. JPMorgan Chase & Co. now owns 1,171,497 shares of the auto parts company’s stock worth $166,540,000 after purchasing an additional 151,543 shares during the last quarter. Institutional investors and hedge funds own 95.23% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on MOD. Roth Mkm assumed coverage on shares of Modine Manufacturing in a research note on Wednesday, February 18th. They issued a “buy” rating and a $263.00 price target on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Modine Manufacturing in a research report on Monday, December 29th. DA Davidson upped their target price on Modine Manufacturing from $255.00 to $265.00 and gave the stock a “buy” rating in a report on Monday, February 9th. Wall Street Zen cut Modine Manufacturing from a “buy” rating to a “hold” rating in a research report on Sunday, February 22nd. Finally, UBS Group started coverage on Modine Manufacturing in a research report on Thursday, November 20th. They set a “buy” rating and a $173.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, Modine Manufacturing presently has a consensus rating of “Buy” and a consensus target price of $223.20.

Modine Manufacturing Price Performance

Shares of NYSE MOD opened at $228.78 on Friday. The company has a quick ratio of 1.28, a current ratio of 2.19 and a debt-to-equity ratio of 0.51. The business’s 50 day moving average price is $168.39 and its two-hundred day moving average price is $154.71. The company has a market cap of $12.06 billion, a PE ratio of 127.10, a price-to-earnings-growth ratio of 1.40 and a beta of 1.71. Modine Manufacturing Company has a twelve month low of $64.79 and a twelve month high of $243.80.

Modine Manufacturing (NYSE:MOD) last issued its earnings results on Wednesday, February 4th. The auto parts company reported $1.19 EPS for the quarter, topping the consensus estimate of $0.99 by $0.20. Modine Manufacturing had a return on equity of 22.99% and a net margin of 3.40%.The company had revenue of $805.00 million during the quarter, compared to the consensus estimate of $763.54 million. During the same period in the previous year, the company posted $0.92 EPS. The firm’s revenue for the quarter was up 30.5% compared to the same quarter last year. On average, analysts predict that Modine Manufacturing Company will post 3.88 EPS for the current year.

Insider Buying and Selling at Modine Manufacturing

In other news, CEO Neil David Brinker sold 31,871 shares of the stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $160.56, for a total value of $5,117,207.76. Following the transaction, the chief executive officer directly owned 238,312 shares of the company’s stock, valued at $38,263,374.72. This represents a 11.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Suresh V. Garimella sold 1,100 shares of Modine Manufacturing stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $184.07, for a total transaction of $202,477.00. Following the sale, the director directly owned 79,856 shares of the company’s stock, valued at $14,699,093.92. The trade was a 1.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 34,071 shares of company stock worth $5,484,685. Corporate insiders own 2.48% of the company’s stock.

Modine Manufacturing Company Profile

Modine Manufacturing Company (NYSE:MOD) is a global provider of thermal management solutions serving automotive, commercial transportation, heavy-duty off-highway, industrial, HVAC and refrigeration markets. The company designs, manufactures, tests and markets a broad array of heat-transfer products that manage temperature and energy efficiency for engines, power electronics and building climate control systems.

Its product portfolio includes heat exchangers, condensers, radiators, evaporators, charge air coolers, fan systems and associated controls.