Citigroup Inc. Decreases Holdings in Modine Manufacturing Company $MOD

Citigroup Inc. trimmed its position in Modine Manufacturing Company (NYSE:MOD) by 57.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 25,555 shares of the auto parts company’s stock after selling 34,471 shares during the period. Citigroup Inc.’s holdings in Modine Manufacturing were worth $3,633,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in MOD. Vanguard Group Inc. boosted its position in shares of 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 worth $722,297,000 after purchasing an additional 97,035 shares in the last quarter. Wasatch Advisors LP increased its position in Modine Manufacturing by 1.4% during the 2nd quarter. Wasatch Advisors LP now owns 1,792,413 shares of the auto parts company’s stock valued at $176,553,000 after buying an additional 23,955 shares in the last quarter. State Street Corp raised its stake in 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 valued at $128,985,000 after buying an additional 53,351 shares during the last quarter. Geode Capital Management LLC boosted its holdings in 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 acquiring an additional 14,096 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of 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 acquiring an additional 151,543 shares during the last quarter. 95.23% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MOD has been the subject of several research analyst reports. Roth Mkm initiated coverage on shares of Modine Manufacturing in a research report on Wednesday, February 18th. They issued a “buy” rating and a $263.00 price objective for the company. DA Davidson upped their price target on shares of Modine Manufacturing from $255.00 to $265.00 and gave the company a “buy” rating in a research note on Monday, February 9th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Modine Manufacturing in a report on Monday, December 29th. Zacks Research raised shares of Modine Manufacturing from a “hold” rating to a “strong-buy” rating in a report on Friday, January 30th. Finally, Wall Street Zen downgraded Modine Manufacturing from a “buy” rating to a “hold” rating in a research report on Sunday, February 22nd. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $223.20.

Modine Manufacturing Trading Down 2.7%

NYSE MOD opened at $204.36 on Friday. Modine Manufacturing Company has a 1 year low of $64.79 and a 1 year high of $243.80. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.19 and a quick ratio of 1.28. The company has a market capitalization of $10.78 billion, a PE ratio of 113.53, a P/E/G ratio of 1.28 and a beta of 1.67. The company has a fifty day moving average of $176.49 and a 200 day moving average of $157.44.

Modine Manufacturing (NYSE:MOD) last released its quarterly earnings data on Wednesday, February 4th. The auto parts company reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.20. Modine Manufacturing had a return on equity of 22.99% and a net margin of 3.40%.The business had revenue of $805.00 million during the quarter, compared to analyst estimates of $763.54 million. During the same quarter last year, the business posted $0.92 EPS. The company’s revenue was up 30.5% on a year-over-year basis. Research analysts forecast that Modine Manufacturing Company will post 3.88 earnings per share for the current year.

Insider Transactions at Modine Manufacturing

In other Modine Manufacturing news, Director Suresh V. Garimella sold 1,100 shares of the company’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $184.07, for a total value of $202,477.00. Following the sale, the director owned 79,856 shares in the company, valued at approximately $14,699,093.92. This represents a 1.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 2.48% of the company’s stock.

About Modine Manufacturing

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.