Modine Manufacturing (NYSE:MOD) Shares Sold by Oliver Luxxe Assets LLC

Oliver Luxxe Assets LLC lessened its stake in shares of Modine Manufacturing (NYSE:MOD) by 13.6% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 44,169 shares of the auto parts company’s stock after selling 6,951 shares during the period. Oliver Luxxe Assets LLC’s holdings in Modine Manufacturing were worth $5,121,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Farther Finance Advisors LLC lifted its position in shares of Modine Manufacturing by 90.9% in the third quarter. Farther Finance Advisors LLC now owns 1,031 shares of the auto parts company’s stock valued at $137,000 after acquiring an additional 491 shares in the last quarter. Harbor Capital Advisors Inc. boosted its stake in shares of Modine Manufacturing by 58.0% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 69,839 shares of the auto parts company’s stock worth $9,274,000 after purchasing an additional 25,648 shares during the last quarter. Fred Alger Management LLC boosted its stake in shares of Modine Manufacturing by 5.1% during the 2nd quarter. Fred Alger Management LLC now owns 369,840 shares of the auto parts company’s stock worth $37,054,000 after purchasing an additional 17,889 shares during the last quarter. Victory Capital Management Inc. grew its holdings in shares of Modine Manufacturing by 20.1% during the third quarter. Victory Capital Management Inc. now owns 157,200 shares of the auto parts company’s stock worth $20,875,000 after buying an additional 26,348 shares in the last quarter. Finally, Raymond James & Associates raised its position in shares of Modine Manufacturing by 15.8% in the third quarter. Raymond James & Associates now owns 30,812 shares of the auto parts company’s stock valued at $4,092,000 after buying an additional 4,206 shares during the last quarter. Hedge funds and other institutional investors own 95.23% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on MOD shares. DA Davidson raised their target price on shares of Modine Manufacturing from $140.00 to $155.00 and gave the stock a “buy” rating in a research report on Tuesday, September 24th. Oppenheimer raised their price objective on Modine Manufacturing from $144.00 to $145.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $146.67.

Modine Manufacturing Trading Up 0.5 %

Shares of MOD stock traded up $0.66 on Monday, reaching $123.10. 629,070 shares of the stock were exchanged, compared to its average volume of 535,017. 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 stock has a market cap of $6.46 billion, a P/E ratio of 40.36, a price-to-earnings-growth ratio of 1.01 and a beta of 2.31. The firm has a 50 day moving average of $126.94 and a two-hundred day moving average of $118.45. Modine Manufacturing has a 1-year low of $58.78 and a 1-year high of $146.84.

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

About Modine Manufacturing

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.