Rhumbline Advisers Has $11.87 Million Holdings in Modine Manufacturing Company $MOD

Rhumbline Advisers cut its position in shares of Modine Manufacturing Company (NYSE:MOD) by 2.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 83,480 shares of the auto parts company’s stock after selling 2,492 shares during the period. Rhumbline Advisers’ holdings in Modine Manufacturing were worth $11,868,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wasatch Advisors LP boosted its stake in Modine Manufacturing by 1.4% during the second quarter. Wasatch Advisors LP now owns 1,792,413 shares of the auto parts company’s stock worth $176,553,000 after buying an additional 23,955 shares in the last quarter. State Street Corp lifted its holdings in shares of Modine Manufacturing by 4.2% during the 2nd quarter. State Street Corp now owns 1,309,488 shares of the auto parts company’s stock worth $128,985,000 after acquiring an additional 53,351 shares during the period. Geode Capital Management LLC boosted its position in shares of Modine Manufacturing by 1.2% during the 2nd quarter. Geode Capital Management LLC now owns 1,214,976 shares of the auto parts company’s stock valued at $119,690,000 after acquiring an additional 14,096 shares in the last quarter. Artisan Partners Limited Partnership increased its stake in Modine Manufacturing by 2.6% in the second quarter. Artisan Partners Limited Partnership now owns 941,779 shares of the auto parts company’s stock valued at $92,765,000 after acquiring an additional 24,312 shares during the period. Finally, Ameriprise Financial Inc. raised its position in Modine Manufacturing by 0.3% in the second quarter. Ameriprise Financial Inc. now owns 800,471 shares of the auto parts company’s stock worth $78,846,000 after purchasing an additional 2,554 shares in the last quarter. 95.23% of the stock is owned by institutional investors.

Modine Manufacturing Stock Performance

Shares of NYSE:MOD opened at $219.09 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.28 and a current ratio of 2.19. The firm has a market cap of $11.55 billion, a PE ratio of 121.72, a price-to-earnings-growth ratio of 1.33 and a beta of 1.71. Modine Manufacturing Company has a twelve month low of $64.79 and a twelve month high of $235.02. The business has a fifty day moving average of $159.15 and a 200-day moving average of $151.52.

Modine Manufacturing (NYSE:MOD) last released its quarterly earnings results on Wednesday, February 4th. The auto parts company reported $1.19 EPS for the quarter, beating the consensus estimate of $0.99 by $0.20. Modine Manufacturing had a net margin of 3.40% and a return on equity of 22.99%. The business had revenue of $805.00 million for the quarter, compared to analysts’ expectations of $763.54 million. During the same period in the prior year, the firm earned $0.92 earnings per share. Modine Manufacturing’s revenue was up 30.5% compared to the same quarter last year. On average, equities research analysts predict that Modine Manufacturing Company will post 3.88 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

MOD has been the topic of a number of recent research reports. Oppenheimer lifted their price objective on Modine Manufacturing from $220.00 to $240.00 and gave the company an “outperform” rating in a report on Friday, February 6th. Zacks Research raised Modine Manufacturing from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 30th. Roth Mkm initiated coverage on Modine Manufacturing in a research report on Wednesday. They issued a “buy” rating and a $263.00 price target on the stock. Wall Street Zen raised Modine Manufacturing from a “hold” rating to a “buy” rating in a report on Saturday, February 14th. Finally, DA Davidson boosted their target price on shares of Modine Manufacturing from $255.00 to $265.00 and gave the company a “buy” rating in a research note on Monday, February 9th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, Modine Manufacturing currently has a consensus rating of “Buy” and an average price target of $223.20.

Insider Buying and Selling at Modine Manufacturing

In related news, CEO Neil David Brinker sold 31,871 shares of Modine Manufacturing stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $160.56, for a total value of $5,117,207.76. Following the completion of the sale, the chief executive officer directly owned 238,312 shares in the company, valued at $38,263,374.72. This trade represents a 11.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Suresh V. Garimella sold 1,100 shares of the business’s stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $184.07, for a total value of $202,477.00. Following the sale, the director directly owned 79,856 shares of the company’s stock, valued at $14,699,093.92. This represents a 1.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 34,071 shares of company stock valued at $5,484,685 over the last three months. Insiders own 2.48% of the company’s stock.

Modine Manufacturing Profile

Modine Manufacturing Company (NYSE:MOD) is a global provider of thermal management solutions serving automotive, commercial transportation, heavy-duty off-highway, industrial, HVAC and refrigeration markets. The company designs, manufactures, tests and markets a broad array of heat-transfer products that manage temperature and energy efficiency for engines, power electronics and building climate control systems.

Its product portfolio includes heat exchangers, condensers, radiators, evaporators, charge air coolers, fan systems and associated controls.