Modine Manufacturing (NYSE:MOD) Shares Sold by Ritholtz Wealth Management

Ritholtz Wealth Management trimmed its holdings in Modine Manufacturing (NYSE:MOD) by 10.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 22,335 shares of the auto parts company’s stock after selling 2,594 shares during the quarter. Ritholtz Wealth Management’s holdings in Modine Manufacturing were worth $1,333,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of MOD. BlackRock Inc. lifted its holdings in shares of Modine Manufacturing by 0.9% during the second quarter. BlackRock Inc. now owns 5,011,439 shares of the auto parts company’s stock valued at $165,478,000 after purchasing an additional 45,665 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Modine Manufacturing by 1.8% during the first quarter. Dimensional Fund Advisors LP now owns 3,807,233 shares of the auto parts company’s stock valued at $87,755,000 after buying an additional 67,372 shares in the last quarter. Frontier Capital Management Co. LLC boosted its holdings in shares of Modine Manufacturing by 1.5% in the second quarter. Frontier Capital Management Co. LLC now owns 3,650,468 shares of the auto parts company’s stock worth $120,538,000 after buying an additional 52,980 shares during the period. Gamco Investors INC. ET AL grew its position in Modine Manufacturing by 5.6% during the 1st quarter. Gamco Investors INC. ET AL now owns 3,250,247 shares of the auto parts company’s stock worth $29,285,000 after purchasing an additional 171,848 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in Modine Manufacturing by 3.2% in the 3rd quarter. Vanguard Group Inc. now owns 3,056,893 shares of the auto parts company’s stock worth $139,853,000 after acquiring an additional 95,255 shares in the last quarter. 95.23% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Modine Manufacturing

In other news, Director Christopher William Patterson sold 14,225 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $90.56, for a total transaction of $1,288,216.00. Following the completion of the sale, the director now owns 97,517 shares of the company’s stock, valued at $8,831,139.52. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CFO Michael B. Lucareli sold 82,312 shares of the company’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $90.33, for a total transaction of $7,435,242.96. Following the transaction, the chief financial officer now owns 194,587 shares of the company’s stock, valued at $17,577,043.71. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Christopher William Patterson sold 14,225 shares of the company’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $90.56, for a total transaction of $1,288,216.00. Following the transaction, the director now owns 97,517 shares in the company, valued at $8,831,139.52. The disclosure for this sale can be found here. Company insiders own 2.86% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on MOD. Oppenheimer started coverage on shares of Modine Manufacturing in a research note on Tuesday, March 19th. They issued an “outperform” rating and a $105.00 price objective for the company. DA Davidson restated a “buy” rating and set a $90.00 price target on shares of Modine Manufacturing in a research note on Tuesday, February 27th. B. Riley reissued a “buy” rating and issued a $98.00 price target (up previously from $88.00) on shares of Modine Manufacturing in a report on Tuesday, February 27th. Finally, StockNews.com lowered shares of Modine Manufacturing from a “buy” rating to a “hold” rating in a research report on Wednesday, January 31st. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, Modine Manufacturing currently has a consensus rating of “Moderate Buy” and a consensus price target of $97.67.

Modine Manufacturing Price Performance

Modine Manufacturing stock opened at $95.19 on Friday. The business has a 50 day simple moving average of $80.54 and a 200 day simple moving average of $60.78. Modine Manufacturing has a one year low of $19.41 and a one year high of $106.01. The company has a market capitalization of $4.97 billion, a PE ratio of 22.45, a price-to-earnings-growth ratio of 0.86 and a beta of 2.28. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.93 and a quick ratio of 1.21.

Modine Manufacturing (NYSE:MOD) last issued its quarterly earnings data on Tuesday, January 30th. The auto parts company reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.17. Modine Manufacturing had a return on equity of 25.28% and a net margin of 9.31%. The company had revenue of $561.40 million during the quarter, compared to analysts’ expectations of $594.84 million. During the same period last year, the business earned $0.48 earnings per share. The business’s revenue was up .2% on a year-over-year basis. On average, sell-side analysts forecast that Modine Manufacturing will post 3.27 EPS for the current fiscal year.

Modine Manufacturing Company Profile

Modine Manufacturing Company provides engineered heat transfer systems and heat transfer components for use in on- and off-highway original equipment manufacturer (OEM) vehicular applications. It operates through Climate Solutions and Performance Technologies segments. The company offers gas-fired, hydronic, electric, and oil-fired unit heaters; indoor and outdoor duct furnaces; infrared units; perimeter heating products, such as commercial fin-tube radiation, cabinet unit heaters, and convectors; roof-mounted direct- and indirect-fired makeup air units; unit ventilators; single packaged vertical units; precision air conditioning units for data center applications; air handler units; fan walls; chillers; ceiling cassettes; hybrid fan coils; and condensers and condensing units.