Ritholtz Wealth Management Trims Stock Position in Modine Manufacturing (NYSE:MOD)

Ritholtz Wealth Management decreased its position in Modine Manufacturing (NYSE:MOD) by 10.4% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 22,335 shares of the auto parts company’s stock after selling 2,594 shares during the period. Ritholtz Wealth Management’s holdings in Modine Manufacturing were worth $1,333,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Legato Capital Management LLC lifted its holdings in Modine Manufacturing by 193.7% during the fourth quarter. Legato Capital Management LLC now owns 24,317 shares of the auto parts company’s stock worth $1,452,000 after buying an additional 16,037 shares during the period. SG Capital Management LLC increased its position in shares of Modine Manufacturing by 1,457.9% during the third quarter. SG Capital Management LLC now owns 208,659 shares of the auto parts company’s stock worth $9,546,000 after purchasing an additional 195,265 shares in the last quarter. Dana Investment Advisors Inc. purchased a new stake in shares of Modine Manufacturing during the 3rd quarter valued at $1,268,000. Reinhart Partners LLC. acquired a new stake in shares of Modine Manufacturing in the 4th quarter worth $41,129,000. Finally, Barclays PLC grew its stake in Modine Manufacturing by 73.7% during the 3rd quarter. Barclays PLC now owns 43,116 shares of the auto parts company’s stock worth $1,972,000 after buying an additional 18,295 shares during the last quarter. Institutional investors own 95.23% of the company’s stock.

Insider Activity

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

Modine Manufacturing Stock Performance

MOD opened at $95.19 on Friday. The firm’s fifty day simple moving average is $80.54 and its two-hundred day simple moving average is $60.78. Modine Manufacturing has a 52-week low of $19.41 and a 52-week high of $106.01. The company has a market cap of $4.97 billion, a price-to-earnings ratio of 22.45, a PEG ratio of 0.86 and a beta of 2.28. The company has a quick ratio of 1.21, a current ratio of 1.93 and a debt-to-equity ratio of 0.43.

Modine Manufacturing (NYSE:MOD) last issued its quarterly earnings results on Tuesday, January 30th. The auto parts company reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.17. Modine Manufacturing had a net margin of 9.31% and a return on equity of 25.28%. The firm had revenue of $561.40 million for the quarter, compared to analyst estimates of $594.84 million. During the same period last year, the company posted $0.48 EPS. Modine Manufacturing’s quarterly revenue was up .2% compared to the same quarter last year. Equities analysts anticipate that Modine Manufacturing will post 3.27 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

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.