Modine Manufacturing Company $MOD Shares Sold by Lisanti Capital Growth LLC

Lisanti Capital Growth LLC cut its stake in Modine Manufacturing Company (NYSE:MOD) by 35.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,500 shares of the auto parts company’s stock after selling 8,475 shares during the quarter. Lisanti Capital Growth LLC’s holdings in Modine Manufacturing were worth $2,902,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of MOD. Rakuten Securities Inc. acquired a new position in shares of Modine Manufacturing during the second quarter valued at approximately $40,000. PenderFund Capital Management Ltd. purchased a new position in shares of Modine Manufacturing in the second quarter valued at approximately $42,000. Optiver Holding B.V. lifted its position in shares of Modine Manufacturing by 19.7% in the first quarter. Optiver Holding B.V. now owns 237 shares of the auto parts company’s stock valued at $51,000 after acquiring an additional 39 shares in the last quarter. Vega Investment Solutions purchased a new position in shares of Modine Manufacturing in the second quarter valued at approximately $52,000. Finally, TD Waterhouse Canada Inc. acquired a new stake in shares of Modine Manufacturing in the second quarter worth approximately $55,000. 95.23% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MOD has been the subject of several research reports. UBS Group dropped their price target on Modine Manufacturing from $355.00 to $160.00 and set a “buy” rating for the company in a research report on Thursday, November 5th. B. Riley Financial reduced their price objective on Modine Manufacturing from $305.00 to $285.00 and set a “buy” rating for the company in a research note on Thursday, October 29th. Zacks Research lowered Modine Manufacturing from a “hold” rating to a “strong sell” rating in a report on Friday, October 16th. Oppenheimer lowered their target price on shares of Modine Manufacturing from $260.00 to $215.00 and set an “outperform” rating on the stock in a research note on Thursday, November 5th. Finally, DA Davidson reaffirmed a “buy” rating and set a $330.00 target price on shares of Modine Manufacturing in a research note on Tuesday, October 27th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $264.89.

Modine Manufacturing Stock Up 3.4%

MOD stock opened at $106.61 on Thursday. The company has a market cap of $5.67 billion, a price-to-earnings ratio of 44.61, a PEG ratio of 0.39 and a beta of 1.86. The company has a current ratio of 2.17, a quick ratio of 1.34 and a debt-to-equity ratio of 0.55. Modine Manufacturing Company has a 12 month low of $87.84 and a 12 month high of $323.25. The firm has a 50-day moving average of $161.80 and a two-hundred day moving average of $213.55.

Modine Manufacturing (NYSE:MOD) last released its earnings results on Tuesday, November 3rd. The auto parts company reported $1.35 earnings per share for the quarter, missing analysts’ consensus estimates of $1.47 by ($0.12). The business had revenue of $994.40 million during the quarter, compared to analysts’ expectations of $978.31 million. Modine Manufacturing had a return on equity of 25.96% and a net margin of 3.58%. The company’s revenue for the quarter was up 34.6% compared to the same quarter last year. During the same period last year, the business earned $0.83 earnings per share. As a group, analysts forecast that Modine Manufacturing Company will post 6.55 earnings per share for the current fiscal year.

About Modine Manufacturing

Modine Manufacturing Company is a global provider of thermal management solutions, serving markets that need to control heating, cooling and temperature-related performance. Founded in 1916 by Arthur B. Modine, the company is headquartered in Racine, Wisconsin. Through its Climate Solutions business, Modine supplies heating, ventilation and air conditioning equipment for commercial and industrial buildings, as well as cooling systems for data centers. Its offerings include chillers, heat exchangers and other equipment designed to manage indoor environments and remove heat from technology infrastructure.