Independent Solutions Wealth Management LLC Lowers Holdings in Modine Manufacturing (NYSE:MOD)

Independent Solutions Wealth Management LLC cut its stake in shares of Modine Manufacturing (NYSE:MOD) by 4.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,237 shares of the auto parts company’s stock after selling 718 shares during the quarter. Independent Solutions Wealth Management LLC’s holdings in Modine Manufacturing were worth $2,023,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Banque Cantonale Vaudoise raised its stake in shares of Modine Manufacturing by 9.8% in the second quarter. Banque Cantonale Vaudoise now owns 1,165 shares of the auto parts company’s stock worth $117,000 after purchasing an additional 104 shares during the last quarter. Xponance Inc. boosted its holdings in Modine Manufacturing by 4.9% in the second quarter. Xponance Inc. now owns 3,270 shares of the auto parts company’s stock worth $328,000 after purchasing an additional 153 shares during the last quarter. Ameritas Advisory Services LLC grew its position in Modine Manufacturing by 2.9% in the 2nd quarter. Ameritas Advisory Services LLC now owns 7,000 shares of the auto parts company’s stock worth $701,000 after purchasing an additional 200 shares during the period. Vanguard Personalized Indexing Management LLC raised its stake in Modine Manufacturing by 7.3% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 3,132 shares of the auto parts company’s stock valued at $314,000 after buying an additional 212 shares during the last quarter. Finally, Arizona State Retirement System lifted its holdings in shares of Modine Manufacturing by 1.8% during the 2nd quarter. Arizona State Retirement System now owns 13,886 shares of the auto parts company’s stock valued at $1,391,000 after buying an additional 246 shares during the period. Hedge funds and other institutional investors own 95.23% of the company’s stock.

Modine Manufacturing Price Performance

Shares of NYSE MOD traded up $0.66 during midday trading on Thursday, reaching $118.32. 369,998 shares of the stock traded hands, compared to its average volume of 832,547. The company’s 50 day moving average is $129.96 and its 200 day moving average is $116.30. Modine Manufacturing has a one year low of $56.71 and a one year high of $146.84. The stock has a market capitalization of $6.21 billion, a PE ratio of 38.79, a P/E/G ratio of 1.01 and a beta of 2.31. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.77 and a quick ratio of 1.09.

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 return on equity of 23.96% and a net margin of 6.59%. The company had revenue of $658.00 million during the quarter, compared to the consensus estimate of $646.86 million. During the same period last year, the company earned $0.89 earnings per share. Modine Manufacturing’s revenue was up 6.0% on a year-over-year basis. On average, equities research analysts anticipate that Modine Manufacturing will post 3.83 earnings per share for the current year.

Wall Street Analysts Forecast Growth

MOD has been the subject of a number of research reports. DA Davidson upped their price objective on Modine Manufacturing from $140.00 to $155.00 and gave the company a “buy” rating in a research report on Tuesday, September 24th. Oppenheimer boosted their target price on shares of Modine Manufacturing from $144.00 to $145.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Modine Manufacturing presently has an average rating of “Moderate Buy” and a consensus target price of $146.67.

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.