Pitcairn Co. Decreases Holdings in Modine Manufacturing (NYSE:MOD)

Pitcairn Co. decreased its stake in Modine Manufacturing (NYSE:MOD) by 24.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,474 shares of the auto parts company’s stock after selling 2,145 shares during the quarter. Pitcairn Co.’s holdings in Modine Manufacturing were worth $860,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of MOD. Acadian Asset Management LLC acquired a new stake in Modine Manufacturing in the 1st quarter worth about $37,000. Opal Wealth Advisors LLC purchased a new position in shares of Modine Manufacturing in the second quarter valued at approximately $51,000. West Oak Capital LLC boosted its stake in shares of Modine Manufacturing by 300.0% in the second quarter. West Oak Capital LLC now owns 600 shares of the auto parts company’s stock worth $60,000 after acquiring an additional 450 shares during the last quarter. Fifth Third Bancorp purchased a new stake in shares of Modine Manufacturing during the second quarter worth approximately $64,000. Finally, DekaBank Deutsche Girozentrale purchased a new stake in shares of Modine Manufacturing during the second quarter worth approximately $68,000. Hedge funds and other institutional investors own 95.23% of the company’s stock.

Modine Manufacturing Trading Up 1.9 %

Shares of MOD opened at $143.22 on Monday. Modine Manufacturing has a 12-month low of $48.88 and a 12-month high of $144.02. The firm has a market capitalization of $7.52 billion, a P/E ratio of 46.96, a P/E/G ratio of 1.10 and a beta of 2.25. The firm has a 50-day moving average price of $128.14 and a 200 day moving average price of $112.40. The company has a current ratio of 1.77, a quick ratio of 1.09 and a debt-to-equity ratio of 0.41.

Modine Manufacturing (NYSE:MOD) last posted its quarterly earnings results on Tuesday, October 29th. The auto parts company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.05. The business had revenue of $658.00 million during the quarter, compared to analysts’ expectations of $646.86 million. Modine Manufacturing had a net margin of 6.59% and a return on equity of 23.96%. The business’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.89 EPS. Sell-side analysts forecast that Modine Manufacturing will post 3.83 EPS for the current year.

Analyst Upgrades and Downgrades

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

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.