Modine Manufacturing Company $MOD Shares Sold by Sterling Capital Management LLC

Sterling Capital Management LLC reduced its holdings in shares of Modine Manufacturing Company (NYSE:MOD) by 55.1% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 6,928 shares of the auto parts company’s stock after selling 8,486 shares during the period. Sterling Capital Management LLC’s holdings in Modine Manufacturing were worth $1,501,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the business. Kemnay Advisory Services Inc. purchased a new position in shares of Modine Manufacturing in the 4th quarter valued at $25,000. Spire Wealth Management purchased a new stake in Modine Manufacturing during the 4th quarter worth $27,000. Sunbelt Securities Inc. purchased a new stake in Modine Manufacturing during the 3rd quarter worth $39,000. Danske Bank A S acquired a new stake in Modine Manufacturing in the 3rd quarter valued at $43,000. Finally, Root Financial Partners LLC increased its holdings in Modine Manufacturing by 140.5% in the 4th quarter. Root Financial Partners LLC now owns 368 shares of the auto parts company’s stock valued at $49,000 after purchasing an additional 215 shares in the last quarter. Institutional investors and hedge funds own 95.23% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on MOD shares. DA Davidson restated a “buy” rating and set a $330.00 price objective on shares of Modine Manufacturing in a research note on Monday, June 22nd. Weiss Ratings upgraded Modine Manufacturing from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, May 28th. KeyCorp raised their target price on Modine Manufacturing from $250.00 to $370.00 and gave the company an “overweight” rating in a report on Wednesday, May 27th. Zacks Research lowered Modine Manufacturing from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 13th. Finally, Oppenheimer upped their price target on Modine Manufacturing from $271.00 to $325.00 and gave the stock an “outperform” rating in a report on Thursday, May 28th. Seven research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $327.14.

Insider Buying and Selling at Modine Manufacturing

In other news, insider Eric S. Mcginnis sold 1,020 shares of the stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $295.06, for a total transaction of $300,961.20. Following the completion of the transaction, the insider directly owned 28,364 shares in the company, valued at approximately $8,369,081.84. This represents a 3.47% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Brian Jon Agen sold 38,282 shares of the firm’s stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $295.17, for a total transaction of $11,299,697.94. Following the sale, the vice president directly owned 66,343 shares of the company’s stock, valued at $19,582,463.31. The trade was a 36.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 54,302 shares of company stock valued at $15,928,759 in the last three months. Corporate insiders own 2.48% of the company’s stock.

Modine Manufacturing Trading Up 0.2%

NYSE:MOD opened at $256.46 on Tuesday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.25 and a current ratio of 1.94. Modine Manufacturing Company has a one year low of $86.48 and a one year high of $323.25. The business’s 50-day simple moving average is $270.70 and its 200 day simple moving average is $215.01. The stock has a market cap of $13.55 billion, a price-to-earnings ratio of 114.49, a price-to-earnings-growth ratio of 0.83 and a beta of 1.65.

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