Modine Manufacturing Company $MOD Shares Sold by Capital World Investors

Capital World Investors trimmed its stake in Modine Manufacturing Company (NYSE:MOD) by 14.2% in the fourth quarter, HoldingsChannel.com reports. The fund owned 853,873 shares of the auto parts company’s stock after selling 141,496 shares during the quarter. Capital World Investors’ holdings in Modine Manufacturing were worth $114,001,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. Capital Research Global Investors raised its holdings in shares of 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 worth $197,358,000 after acquiring an additional 179,617 shares during the last quarter. Los Angeles Capital Management LLC raised its holdings in shares of Modine Manufacturing by 134.1% in the fourth quarter. Los Angeles Capital Management LLC now owns 5,727 shares of the auto parts company’s stock worth $765,000 after acquiring an additional 3,281 shares during the last quarter. Telemark Asset Management LLC acquired a new position in shares of Modine Manufacturing in the fourth quarter worth $13,351,000. State of Wyoming raised its holdings in shares of Modine Manufacturing by 24.0% in the fourth quarter. State of Wyoming now owns 1,728 shares of the auto parts company’s stock worth $231,000 after acquiring an additional 335 shares during the last quarter. Finally, Cibc World Market Inc. acquired a new position in shares of Modine Manufacturing in the fourth quarter worth $354,000. 95.23% of the stock is owned by institutional investors and hedge funds.

Modine Manufacturing Stock Performance

Modine Manufacturing stock opened at $274.70 on Tuesday. The firm has a market capitalization of $14.51 billion, a P/E ratio of 122.63, a PEG ratio of 0.89 and a beta of 1.65. The stock has a fifty day moving average price of $255.68 and a 200 day moving average price of $201.94. Modine Manufacturing Company has a 52 week low of $86.48 and a 52 week high of $323.25. The company has a current ratio of 1.94, a quick ratio of 1.25 and a debt-to-equity ratio of 0.32.

Modine Manufacturing (NYSE:MOD) last released its earnings results on Tuesday, May 26th. The auto parts company reported $1.71 EPS for the quarter, beating the consensus estimate of $1.51 by $0.20. The firm had revenue of $954.40 million during 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 quarterly revenue was up 47.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.12 earnings per share. Equities research analysts anticipate that Modine Manufacturing Company will post 7.73 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on MOD shares. B. Riley Financial boosted their price target on Modine Manufacturing from $250.00 to $264.00 and gave the stock a “buy” rating in a report on Tuesday, May 26th. Zacks Research lowered Modine Manufacturing from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 13th. Wall Street Zen upgraded Modine Manufacturing from a “hold” rating to a “buy” rating in a research note on Saturday, May 30th. KeyCorp upped their target price on Modine Manufacturing from $250.00 to $370.00 and gave the company an “overweight” rating in a research note on Wednesday, May 27th. Finally, Roth Mkm began coverage on Modine Manufacturing in a research note on Wednesday, February 18th. They issued a “buy” rating and a $263.00 target price for the company. Seven analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $327.14.

Modine Manufacturing Company 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.