Easterly Investment Partners LLC Reduces Holdings in Modine Manufacturing Company $MOD

Easterly Investment Partners LLC reduced its holdings in shares of Modine Manufacturing Company (NYSE:MOD) by 37.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,510 shares of the auto parts company’s stock after selling 4,509 shares during the quarter. Easterly Investment Partners LLC’s holdings in Modine Manufacturing were worth $1,003,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. State of Alaska Department of Revenue increased its holdings in Modine Manufacturing by 3.4% during the 4th quarter. State of Alaska Department of Revenue now owns 3,156 shares of the auto parts company’s stock valued at $421,000 after acquiring an additional 103 shares in the last quarter. Intrust Bank NA boosted its stake in shares of Modine Manufacturing by 2.3% during the 3rd quarter. Intrust Bank NA now owns 4,919 shares of the auto parts company’s stock worth $699,000 after purchasing an additional 109 shares during the last quarter. Clearstead Advisors LLC boosted its stake in shares of Modine Manufacturing by 3.7% during the 4th quarter. Clearstead Advisors LLC now owns 4,589 shares of the auto parts company’s stock worth $613,000 after purchasing an additional 164 shares during the last quarter. Arizona State Retirement System boosted its stake in shares of Modine Manufacturing by 1.2% during the 3rd quarter. Arizona State Retirement System now owns 14,752 shares of the auto parts company’s stock worth $2,097,000 after purchasing an additional 176 shares during the last quarter. Finally, Xponance Inc. boosted its stake in shares of Modine Manufacturing by 4.3% during the 3rd quarter. Xponance Inc. now owns 4,349 shares of the auto parts company’s stock worth $618,000 after purchasing an additional 179 shares during the last quarter. 95.23% of the stock is currently owned by hedge funds and other institutional investors.

Modine Manufacturing Price Performance

MOD opened at $289.71 on Tuesday. The company’s 50 day simple moving average is $248.22 and its 200 day simple moving average is $196.36. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.25 and a current ratio of 1.94. Modine Manufacturing Company has a 1 year low of $86.48 and a 1 year high of $323.25. The stock has a market capitalization of $15.30 billion, a PE ratio of 129.33, a P/E/G ratio of 0.92 and a beta of 1.65.

Modine Manufacturing (NYSE:MOD) last released its earnings results on Tuesday, May 26th. The auto parts company reported $1.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.51 by $0.20. Modine Manufacturing had a net margin of 3.82% and a return on equity of 24.39%. The business had revenue of $954.40 million for the quarter, compared to analysts’ expectations of $920.67 million. During the same period last year, the company earned $1.12 earnings per share. The company’s quarterly revenue was up 47.5% on a year-over-year basis. As a group, sell-side analysts expect that Modine Manufacturing Company will post 7.6 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have issued reports on MOD. Glj Research reaffirmed a “buy” rating and set a $428.00 price target on shares of Modine Manufacturing in a research note on Monday. Wall Street Zen raised shares of Modine Manufacturing from a “hold” rating to a “buy” rating in a research note on Saturday. UBS Group raised their price target on shares of Modine Manufacturing to $310.00 and gave the stock a “buy” rating in a research note on Wednesday, May 27th. Zacks Research cut shares of Modine Manufacturing from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 13th. Finally, Weiss Ratings raised shares of Modine Manufacturing from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday. Seven research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $327.14.

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.