Johnson Investment Counsel Inc. Sells 2,656 Shares of Modine Manufacturing (NYSE:MOD)

Johnson Investment Counsel Inc. trimmed its position in shares of Modine Manufacturing (NYSE:MOD) by 38.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,212 shares of the auto parts company’s stock after selling 2,656 shares during the period. Johnson Investment Counsel Inc.’s holdings in Modine Manufacturing were worth $422,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Strid Group LLC bought a new position in Modine Manufacturing during the first quarter valued at about $33,000. Acadian Asset Management LLC bought a new position in Modine Manufacturing during the first quarter valued at about $37,000. Principal Securities Inc. bought a new position in Modine Manufacturing during the fourth quarter valued at about $29,000. Opal Wealth Advisors LLC bought a new position in Modine Manufacturing during the second quarter valued at about $51,000. Finally, West Oak Capital LLC increased its stake in Modine Manufacturing by 300.0% during the second quarter. West Oak Capital LLC now owns 600 shares of the auto parts company’s stock valued at $60,000 after acquiring an additional 450 shares during the period. 95.23% of the stock is currently owned by institutional investors.

Modine Manufacturing Stock Up 0.2 %

NYSE MOD opened at $111.07 on Friday. The stock’s 50 day simple moving average is $107.64 and its 200 day simple moving average is $99.75. Modine Manufacturing has a one year low of $38.50 and a one year high of $123.92. The firm has a market cap of $5.82 billion, a PE ratio of 36.66, a price-to-earnings-growth ratio of 0.83 and a beta of 2.22. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.80 and a quick ratio of 1.11.

Modine Manufacturing (NYSE:MOD) last announced its earnings results on Tuesday, July 30th. The auto parts company reported $1.04 EPS for the quarter, topping the consensus estimate of $0.86 by $0.18. The company had revenue of $661.50 million for the quarter, compared to analysts’ expectations of $633.55 million. Modine Manufacturing had a return on equity of 24.92% and a net margin of 6.70%. The business’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.85 earnings per share. As a group, sell-side analysts forecast that Modine Manufacturing will post 3.85 earnings per share for the current fiscal year.

Insider Transactions at Modine Manufacturing

In other news, Director Marsha C. Williams sold 34,400 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $109.74, for a total transaction of $3,775,056.00. Following the transaction, the director now owns 144,038 shares of the company’s stock, valued at $15,806,730.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 2.40% of the company’s stock.

Analyst Upgrades and Downgrades

MOD has been the topic of a number of recent research reports. William Blair initiated coverage on Modine Manufacturing in a report on Monday, July 29th. They set an “outperform” rating on the stock. Oppenheimer reaffirmed an “outperform” rating and set a $135.00 price objective on shares of Modine Manufacturing in a report on Thursday. DA Davidson lifted their price objective on Modine Manufacturing from $120.00 to $140.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Finally, B. Riley lifted their price objective on Modine Manufacturing from $125.00 to $140.00 and gave the company a “buy” rating in a report on Thursday, August 1st. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $138.33.

About Modine Manufacturing

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.