Reinhart Partners LLC. Has $148.38 Million Stake in Modine Manufacturing Company $MOD

Reinhart Partners LLC. trimmed its stake in shares of Modine Manufacturing Company (NYSE:MOD) by 7.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 555,686 shares of the auto parts company’s stock after selling 45,514 shares during the quarter. Modine Manufacturing comprises 3.4% of Reinhart Partners LLC.’s portfolio, making the stock its 8th largest position. Reinhart Partners LLC. owned approximately 1.05% of Modine Manufacturing worth $148,383,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in MOD. Invesco Ltd. boosted its position in Modine Manufacturing by 120.4% during the 4th quarter. Invesco Ltd. now owns 1,318,529 shares of the auto parts company’s stock valued at $176,037,000 after purchasing an additional 720,389 shares during the period. Price T Rowe Associates Inc. MD increased its position in Modine Manufacturing by 31.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,333,174 shares of the auto parts company’s stock worth $311,503,000 after buying an additional 560,131 shares during the period. WT Asset Management Ltd acquired a new stake in Modine Manufacturing in the fourth quarter worth $69,255,000. Janus Henderson Group PLC lifted its stake in Modine Manufacturing by 2,249.9% in the first quarter. Janus Henderson Group PLC now owns 523,507 shares of the auto parts company’s stock valued at $113,459,000 after buying an additional 501,229 shares during the last quarter. Finally, Norges Bank bought a new stake in Modine Manufacturing in the fourth quarter valued at $58,309,000. Institutional investors own 95.23% of the company’s stock.

Modine Manufacturing Trading Up 2.0%

NYSE:MOD opened at $196.31 on Friday. The stock has a market cap of $10.43 billion, a price-to-earnings ratio of 73.80, a PEG ratio of 0.63 and a beta of 1.71. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.22 and a current ratio of 2.04. Modine Manufacturing Company has a 1 year low of $111.18 and a 1 year high of $323.25. The business has a fifty day moving average of $248.96 and a 200-day moving average of $232.59.

Modine Manufacturing (NYSE:MOD) last issued its quarterly earnings data on Tuesday, July 28th. The auto parts company reported $1.53 earnings per share for the quarter, beating analysts’ consensus estimates of $1.27 by $0.26. The business had revenue of $874.10 million for the quarter, compared to analysts’ expectations of $878.69 million. Modine Manufacturing had a net margin of 4.28% and a return on equity of 25.59%. The company’s revenue was up 28.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.95 earnings per share. Equities analysts predict that Modine Manufacturing Company will post 7.65 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Glj Research restated a “buy” rating and set a $428.00 price target on shares of Modine Manufacturing in a research report on Monday, June 1st. Wall Street Zen downgraded shares of Modine Manufacturing from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. KeyCorp reduced their target price on shares of Modine Manufacturing from $370.00 to $280.00 and set an “overweight” rating for the company in a research note on Thursday, July 30th. Weiss Ratings upgraded shares of Modine Manufacturing from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, May 28th. Finally, UBS Group raised their price target on shares of Modine Manufacturing to $310.00 and gave the company a “buy” rating in a research note on Wednesday, May 27th. Seven equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $320.14.

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 shares were sold at an average price of $295.06, for a total value of $300,961.20. Following the completion of the transaction, the insider directly owned 28,364 shares in the company, valued at $8,369,081.84. This trade represents a 3.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Eric D. Ashleman sold 15,000 shares of the stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $288.54, for a total transaction of $4,328,100.00. Following the completion of the transaction, the director owned 42,350 shares of the company’s stock, valued at $12,219,669. This trade represents a 26.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 54,302 shares of company stock valued at $15,928,759. Company insiders own 1.92% of the company’s stock.

About Modine Manufacturing

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.