Modine Manufacturing (NYSE:MOD) Shares Sold by Chartwell Investment Partners LLC

Chartwell Investment Partners LLC reduced its stake in shares of Modine Manufacturing (NYSE:MOD) by 14.6% during the 3rd quarter, Holdings Channel.com reports. The fund owned 16,984 shares of the auto parts company’s stock after selling 2,900 shares during the quarter. Chartwell Investment Partners LLC’s holdings in Modine Manufacturing were worth $2,256,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Acadian Asset Management LLC acquired a new stake in Modine Manufacturing during the 1st quarter worth $37,000. Opal Wealth Advisors LLC acquired a new stake in Modine Manufacturing during the 2nd quarter worth $51,000. West Oak Capital LLC increased its stake in Modine Manufacturing by 300.0% in the second quarter. West Oak Capital LLC now owns 600 shares of the auto parts company’s stock valued at $60,000 after purchasing an additional 450 shares during the period. Fifth Third Bancorp acquired a new position in Modine Manufacturing in the second quarter valued at $64,000. Finally, DekaBank Deutsche Girozentrale acquired a new position in Modine Manufacturing in the second quarter valued at $68,000. 95.23% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. DA Davidson lifted their price objective on shares of Modine Manufacturing from $140.00 to $155.00 and gave the company a “buy” rating in a research note on Tuesday, September 24th. Oppenheimer lifted their price objective on shares of Modine Manufacturing from $144.00 to $145.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. B. Riley lifted their price objective on shares of Modine Manufacturing from $125.00 to $140.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Finally, William Blair assumed coverage on shares of Modine Manufacturing in a research note on Monday, July 29th. They issued an “outperform” rating on the stock. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $146.67.

Insider Buying and Selling

In related news, Director Marsha C. Williams sold 34,400 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $109.74, for a total transaction of $3,775,056.00. Following the sale, the director now owns 144,038 shares of the company’s stock, valued at approximately $15,806,730.12. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 2.40% of the stock is owned by insiders.

Modine Manufacturing Trading Down 5.6 %

Shares of Modine Manufacturing stock opened at $124.81 on Wednesday. Modine Manufacturing has a 52-week low of $44.69 and a 52-week high of $141.72. The company has a quick ratio of 1.09, a current ratio of 1.77 and a debt-to-equity ratio of 0.41. The company’s 50-day simple moving average is $123.42 and its 200-day simple moving average is $110.29. The firm has a market cap of $6.55 billion, a price-to-earnings ratio of 43.33, a price-to-earnings-growth ratio of 0.98 and a beta of 2.25.

Modine Manufacturing (NYSE:MOD) last issued its quarterly earnings results on Tuesday, October 29th. The auto parts company reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.05. Modine Manufacturing had a net margin of 6.59% and a return on equity of 23.96%. The business had revenue of $658.00 million for the quarter, compared to analyst estimates of $646.86 million. During the same period in the previous year, the business posted $0.89 earnings per share. The business’s revenue was up 6.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Modine Manufacturing will post 3.83 earnings per share for the current year.

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.