Mountain Pacific Investment Advisers LLC Trims Stake in Modine Manufacturing Company $MOD

Mountain Pacific Investment Advisers LLC lowered its position in Modine Manufacturing Company (NYSE:MOD) by 94.2% in the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,119 shares of the auto parts company’s stock after selling 50,235 shares during the period. Mountain Pacific Investment Advisers LLC’s holdings in Modine Manufacturing were worth $443,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. First Horizon Corp bought a new position in Modine Manufacturing in the third quarter worth $38,000. Parkside Financial Bank & Trust boosted its holdings in shares of Modine Manufacturing by 2,025.0% during the 2nd quarter. Parkside Financial Bank & Trust now owns 425 shares of the auto parts company’s stock valued at $42,000 after buying an additional 405 shares in the last quarter. Maseco LLP purchased a new stake in shares of Modine Manufacturing in the 2nd quarter worth about $51,000. GAMMA Investing LLC increased 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. Finally, Elevation Point Wealth Partners LLC purchased a new position in Modine Manufacturing during the 2nd quarter valued at about $57,000. 95.23% of the stock is currently owned by institutional investors.

Insider Transactions at Modine Manufacturing

In other news, CEO Neil David Brinker sold 31,871 shares of the firm’s stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $160.56, for a total transaction of $5,117,207.76. Following the sale, the chief executive officer owned 238,312 shares of the company’s stock, valued at $38,263,374.72. This trade represents a 11.80% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 2.48% of the company’s stock.

Modine Manufacturing Stock Performance

Shares of MOD opened at $143.58 on Thursday. The company has a market cap of $7.56 billion, a price-to-earnings ratio of 41.50, a P/E/G ratio of 0.87 and a beta of 1.70. The business’s fifty day simple moving average is $141.01 and its two-hundred day simple moving average is $138.36. Modine Manufacturing Company has a 12 month low of $64.79 and a 12 month high of $166.94. The company has a current ratio of 2.00, a quick ratio of 1.16 and a debt-to-equity ratio of 0.50.

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

Analysts Set New Price Targets

A number of brokerages have weighed in on MOD. UBS Group began coverage on shares of Modine Manufacturing in a report on Thursday, November 20th. They issued a “buy” rating and a $173.00 price objective on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Modine Manufacturing in a research report on Monday, December 29th. Zacks Research lowered Modine Manufacturing from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 29th. DA Davidson reissued a “buy” rating and issued a $200.00 target price on shares of Modine Manufacturing in a report on Wednesday, November 19th. Finally, Oppenheimer increased 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. Four research 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 company currently has an average rating of “Moderate Buy” and a consensus target price of $182.00.

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.