EMC Capital Management Sells 4,805 Shares of Modine Manufacturing (NYSE:MOD)

EMC Capital Management lowered its position in shares of Modine Manufacturing (NYSE:MOD) by 85.5% in the 3rd quarter, Holdings Channel.com reports. The fund owned 813 shares of the auto parts company’s stock after selling 4,805 shares during the quarter. EMC Capital Management’s holdings in Modine Manufacturing were worth $108,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the company. Acadian Asset Management LLC purchased a new stake in Modine Manufacturing during the 1st quarter valued at $37,000. Opal Wealth Advisors LLC bought a new stake in Modine Manufacturing in the 2nd quarter worth about $51,000. West Oak Capital LLC raised its position in Modine Manufacturing by 300.0% in the 2nd quarter. West Oak Capital LLC now owns 600 shares of the auto parts company’s stock worth $60,000 after buying an additional 450 shares during the last quarter. Fifth Third Bancorp bought a new position in Modine Manufacturing during the 2nd quarter valued at about $64,000. Finally, DekaBank Deutsche Girozentrale bought a new position in Modine Manufacturing during the 2nd quarter valued at about $68,000. 95.23% of the stock is currently owned by hedge funds and other institutional investors.

Modine Manufacturing Stock Performance

MOD opened at $111.60 on Friday. The company’s 50 day moving average is $122.85 and its 200 day moving average is $108.54. The company has a current ratio of 1.80, a quick ratio of 1.11 and a debt-to-equity ratio of 0.51. The company has a market cap of $5.85 billion, a price-to-earnings ratio of 36.59, a PEG ratio of 0.92 and a beta of 2.22. Modine Manufacturing has a 12-month low of $39.50 and a 12-month high of $141.72.

Modine Manufacturing (NYSE:MOD) last issued its quarterly earnings results on Tuesday, October 29th. The auto parts company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.05. The business had revenue of $658.00 million for 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 24.79%. The company’s revenue was up 6.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.89 EPS. On average, equities research analysts predict that Modine Manufacturing will post 3.86 EPS for the current year.

Wall Street Analyst Weigh In

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

Insider Activity at Modine Manufacturing

In other Modine Manufacturing news, Director Marsha C. Williams sold 34,400 shares of the company’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $109.74, for a total value of $3,775,056.00. Following the completion of the sale, the director now owns 144,038 shares in the company, valued at $15,806,730.12. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 2.40% of the stock is owned by company insiders.

Modine Manufacturing 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.