Clearbridge Investments LLC Cuts Stake in Modine Manufacturing Company $MOD

Clearbridge Investments LLC decreased its holdings in Modine Manufacturing Company (NYSE:MOD) by 2.0% in the fourth quarter, Holdings Channel reports. The fund owned 169,434 shares of the auto parts company’s stock after selling 3,508 shares during the period. Clearbridge Investments LLC’s holdings in Modine Manufacturing were worth $22,621,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. lifted its position in Modine Manufacturing by 1.9% in the third quarter. Vanguard Group Inc. now owns 5,080,874 shares of the auto parts company’s stock valued at $722,297,000 after buying an additional 97,035 shares during the last quarter. Wasatch Advisors LP increased its stake in shares of 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 worth $176,553,000 after buying an additional 23,955 shares during the period. Capital Research Global Investors increased its stake in Modine Manufacturing by 13.8% in the fourth quarter. Capital Research Global Investors now owns 1,478,224 shares of the auto parts company’s stock valued at $197,358,000 after purchasing an additional 179,617 shares during the last quarter. State Street Corp increased its stake in Modine Manufacturing by 4.2% in the second quarter. State Street Corp now owns 1,309,488 shares of the auto parts company’s stock valued at $128,985,000 after purchasing an additional 53,351 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in Modine Manufacturing by 14.9% in the third quarter. JPMorgan Chase & Co. now owns 1,171,497 shares of the auto parts company’s stock valued at $166,540,000 after purchasing an additional 151,543 shares during the last quarter. Hedge funds and other institutional investors own 95.23% of the company’s stock.

Wall Street Analyst Weigh In

MOD has been the topic of a number of research reports. Wall Street Zen upgraded shares of Modine Manufacturing from a “hold” rating to a “buy” rating in a research report on Saturday, May 30th. Oppenheimer raised their target price on Modine Manufacturing from $271.00 to $325.00 and gave the company an “outperform” rating in a report on Thursday, May 28th. B. Riley Financial raised their target price on Modine Manufacturing from $250.00 to $264.00 and gave the company a “buy” rating in a report on Tuesday, May 26th. Roth Mkm assumed coverage on Modine Manufacturing in a research note on Wednesday, February 18th. They set a “buy” rating and a $263.00 price target for the company. Finally, Weiss Ratings raised Modine Manufacturing from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, May 28th. Seven analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, Modine Manufacturing presently has an average rating of “Moderate Buy” and a consensus price target of $327.14.

Modine Manufacturing Stock Performance

Shares of MOD opened at $278.77 on Wednesday. The business’s 50 day moving average is $256.98 and its two-hundred day moving average is $202.90. Modine Manufacturing Company has a 52-week low of $86.48 and a 52-week high of $323.25. The firm has a market cap of $14.72 billion, a price-to-earnings ratio of 124.45, a PEG ratio of 0.89 and a beta of 1.65. The company has a quick ratio of 1.25, a current ratio of 1.94 and a debt-to-equity ratio of 0.32.

Modine Manufacturing (NYSE:MOD) last posted its quarterly earnings results on Tuesday, May 26th. The auto parts company reported $1.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.51 by $0.20. The business had revenue of $954.40 million for the quarter, compared to analyst estimates of $920.67 million. Modine Manufacturing had a return on equity of 24.39% and a net margin of 3.82%.The business’s revenue was up 47.5% compared to the same quarter last year. During the same period in the prior year, the company posted $1.12 EPS. Analysts forecast that Modine Manufacturing Company will post 7.73 EPS for the current fiscal 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.