Segall Bryant & Hamill LLC Decreases Holdings in Modine Manufacturing Company $MOD

Segall Bryant & Hamill LLC reduced its position in Modine Manufacturing Company (NYSE:MOD) by 4.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 244,642 shares of the auto parts company’s stock after selling 10,236 shares during the period. Segall Bryant & Hamill LLC owned about 0.46% of Modine Manufacturing worth $34,778,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MOD. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Modine Manufacturing by 26.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,223 shares of the auto parts company’s stock valued at $2,857,000 after purchasing an additional 7,831 shares during the last quarter. Envestnet Asset Management Inc. boosted its position in shares of Modine Manufacturing by 24.5% in the 2nd quarter. Envestnet Asset Management Inc. now owns 81,545 shares of the auto parts company’s stock worth $8,032,000 after buying an additional 16,047 shares in the last quarter. Teacher Retirement System of Texas grew its stake in Modine Manufacturing by 4.0% in the 2nd quarter. Teacher Retirement System of Texas now owns 7,583 shares of the auto parts company’s stock valued at $747,000 after acquiring an additional 293 shares during the last quarter. Assetmark Inc. grew its stake in Modine Manufacturing by 3.5% in the 2nd quarter. Assetmark Inc. now owns 12,751 shares of the auto parts company’s stock valued at $1,256,000 after acquiring an additional 434 shares during the last quarter. Finally, Atria Investments Inc purchased a new position in Modine Manufacturing during the 2nd quarter valued at about $519,000. 95.23% of the stock is owned by institutional investors and hedge funds.

Modine Manufacturing Trading Up 4.9%

Shares of Modine Manufacturing stock opened at $238.32 on Tuesday. Modine Manufacturing Company has a fifty-two week low of $64.79 and a fifty-two week high of $243.80. The business’s fifty day moving average is $172.23 and its two-hundred day moving average is $156.23. The company has a quick ratio of 1.28, a current ratio of 2.19 and a debt-to-equity ratio of 0.51. The firm has a market cap of $12.57 billion, a PE ratio of 132.40, a P/E/G ratio of 1.39 and a beta of 1.66.

Modine Manufacturing (NYSE:MOD) last released its 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 return on equity of 22.99% and a net margin of 3.40%.The firm had revenue of $805.00 million during the quarter, compared to analyst estimates of $763.54 million. During the same period in the prior year, the firm posted $0.92 earnings per share. The business’s quarterly revenue was up 30.5% compared to the same quarter last year. Analysts anticipate that Modine Manufacturing Company will post 3.88 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have issued reports on MOD. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Modine Manufacturing in a report on Monday, December 29th. Oppenheimer lifted their price objective on Modine Manufacturing from $220.00 to $240.00 and gave the stock an “outperform” rating in a research 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. DA Davidson raised their price target on Modine Manufacturing from $255.00 to $265.00 and gave the stock a “buy” rating in a research report on Monday, February 9th. Finally, Wall Street Zen cut Modine Manufacturing from a “buy” rating to a “hold” rating in a report on Sunday, February 22nd. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, 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 other news, Director Suresh V. Garimella sold 1,100 shares of the stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $184.07, for a total transaction of $202,477.00. Following the transaction, the director directly owned 79,856 shares in the company, valued at $14,699,093.92. This represents a 1.36% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 2.48% of the stock is currently owned by insiders.

Modine Manufacturing Company 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.