Thematics Asset Management Sells 8,000 Shares of Modine Manufacturing Company $MOD

Thematics Asset Management cut its position in Modine Manufacturing Company (NYSE:MOD) by 10.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 67,000 shares of the auto parts company’s stock after selling 8,000 shares during the quarter. Thematics Asset Management’s holdings in Modine Manufacturing were worth $9,525,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Modine Manufacturing by 1.9% during the 3rd quarter. Vanguard Group Inc. now owns 5,080,874 shares of the auto parts company’s stock worth $722,297,000 after acquiring an additional 97,035 shares in the last quarter. Wasatch Advisors LP raised its position in Modine Manufacturing by 1.4% during the second quarter. Wasatch Advisors LP now owns 1,792,413 shares of the auto parts company’s stock valued at $176,553,000 after purchasing an additional 23,955 shares in the last quarter. State Street Corp lifted its stake in Modine Manufacturing by 4.2% during the second quarter. State Street Corp now owns 1,309,488 shares of the auto parts company’s stock worth $128,985,000 after purchasing an additional 53,351 shares during the last quarter. Capital Research Global Investors bought a new stake in Modine Manufacturing during the third quarter worth $184,610,000. Finally, Geode Capital Management LLC boosted its holdings in shares of Modine Manufacturing by 1.2% in the 2nd quarter. Geode Capital Management LLC now owns 1,214,976 shares of the auto parts company’s stock valued at $119,690,000 after purchasing an additional 14,096 shares in the last quarter. Institutional investors own 95.23% of the company’s stock.

Insider Buying and Selling at Modine Manufacturing

In other news, Director Suresh V. Garimella sold 1,100 shares of the company’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $184.07, for a total value of $202,477.00. Following the completion of the transaction, the director owned 79,856 shares of the company’s stock, valued at $14,699,093.92. This represents a 1.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 2.48% of the company’s stock.

Modine Manufacturing Stock Down 1.6%

Shares of MOD opened at $188.79 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.28 and a current ratio of 2.19. Modine Manufacturing Company has a 52 week low of $64.79 and a 52 week high of $243.80. The stock has a market capitalization of $9.95 billion, a price-to-earnings ratio of 104.88, a PEG ratio of 1.17 and a beta of 1.67. The stock has a fifty day moving average of $183.57 and a 200-day moving average of $159.83.

Modine Manufacturing (NYSE:MOD) last issued its quarterly earnings data on Wednesday, February 4th. The auto parts company reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.20. The business had revenue of $805.00 million for the quarter, compared to analyst estimates of $763.54 million. Modine Manufacturing had a return on equity of 22.99% and a net margin of 3.40%.Modine Manufacturing’s quarterly revenue was up 30.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.92 EPS. As a group, sell-side analysts anticipate that Modine Manufacturing Company will post 3.88 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

MOD has been the topic of several recent analyst reports. Zacks Research upgraded Modine Manufacturing from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 30th. DA Davidson raised their price objective on Modine Manufacturing from $255.00 to $265.00 and gave the company a “buy” rating in a research note on Monday, February 9th. Roth Mkm initiated coverage on Modine Manufacturing in a research report on Wednesday, February 18th. They issued a “buy” rating and a $263.00 target price on the stock. Oppenheimer increased their target price on shares of Modine Manufacturing from $220.00 to $240.00 and gave the stock an “outperform” rating in a report on Friday, February 6th. Finally, UBS Group began coverage on shares of Modine Manufacturing in a report on Thursday, November 20th. They set a “buy” rating and a $173.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $223.20.

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.