Viking Fund Management LLC Sells 5,000 Shares of Modine Manufacturing Company $MOD

Viking Fund Management LLC reduced its stake in shares of Modine Manufacturing Company (NYSE:MOD) by 38.5% in the third quarter, HoldingsChannel.com reports. The firm owned 8,000 shares of the auto parts company’s stock after selling 5,000 shares during the period. Viking Fund Management LLC’s holdings in Modine Manufacturing were worth $1,137,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Handelsbanken Fonder AB lifted its holdings in shares of Modine Manufacturing by 0.8% in the second quarter. Handelsbanken Fonder AB now owns 13,100 shares of the auto parts company’s stock valued at $1,290,000 after purchasing an additional 100 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its position in Modine Manufacturing by 5.5% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 2,006 shares of the auto parts company’s stock valued at $154,000 after buying an additional 105 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its stake in Modine Manufacturing by 3.7% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 4,602 shares of the auto parts company’s stock valued at $453,000 after acquiring an additional 165 shares in the last quarter. Ethic Inc. boosted its holdings in Modine Manufacturing by 5.8% during the 2nd quarter. Ethic Inc. now owns 3,396 shares of the auto parts company’s stock worth $344,000 after acquiring an additional 185 shares during the last quarter. Finally, GAMMA Investing LLC grew its stake in shares of Modine Manufacturing by 52.6% in the 2nd quarter. GAMMA Investing LLC now owns 560 shares of the auto parts company’s stock worth $55,000 after acquiring an additional 193 shares in the last quarter. 95.23% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Neil David Brinker sold 31,871 shares of the company’s stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $160.56, for a total transaction of $5,117,207.76. Following the transaction, the chief executive officer owned 238,312 shares of the company’s stock, valued at $38,263,374.72. This represents a 11.80% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 2.48% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. DA Davidson reissued a “buy” rating and set a $200.00 price target on shares of Modine Manufacturing in a research report on Wednesday, November 19th. UBS Group began coverage on shares of Modine Manufacturing in a research report on Thursday, November 20th. They set a “buy” rating and a $173.00 target price on the stock. Oppenheimer boosted their target price on Modine Manufacturing from $145.00 to $180.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 14th. KeyCorp upped their target price on Modine Manufacturing from $160.00 to $175.00 and gave the company an “overweight” rating in a report on Tuesday, October 14th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Modine Manufacturing in a report on Monday, December 15th. Four analysts have rated the stock with a Buy rating and two have given a Hold 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 $182.00.

Modine Manufacturing Stock Up 1.4%

MOD opened at $135.86 on Friday. Modine Manufacturing Company has a twelve month low of $64.79 and a twelve month high of $166.94. The company’s 50-day moving average price is $150.89 and its two-hundred day moving average price is $132.56. The stock has a market cap of $7.15 billion, a price-to-earnings ratio of 39.27, a PEG ratio of 0.86 and a beta of 1.69. The company has a quick ratio of 1.16, a current ratio of 2.00 and a debt-to-equity ratio of 0.50.

Modine Manufacturing (NYSE:MOD) last posted its quarterly earnings results on Tuesday, October 28th. The auto parts company reported $1.06 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.09. Modine Manufacturing had a net margin of 6.93% and a return on equity of 23.19%. The company had revenue of $738.90 million for the quarter, compared to analysts’ expectations of $699.91 million. During the same quarter in the previous year, the firm posted $0.97 EPS. Modine Manufacturing’s revenue was up 12.3% on a year-over-year basis. As a group, equities analysts expect that Modine Manufacturing Company will post 3.88 earnings per share for the current year.

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.