Modine Manufacturing (NYSE:MOD) Shares Sold by Divisadero Street Capital Management LP

Divisadero Street Capital Management LP lessened its stake in shares of Modine Manufacturing (NYSE:MOD) by 15.8% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 42,080 shares of the auto parts company’s stock after selling 7,920 shares during the period. Divisadero Street Capital Management LP owned 0.08% of Modine Manufacturing worth $4,216,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Banque Cantonale Vaudoise increased its stake in Modine Manufacturing by 9.8% during the second quarter. Banque Cantonale Vaudoise now owns 1,165 shares of the auto parts company’s stock worth $117,000 after acquiring an additional 104 shares during the last quarter. Riverwater Partners LLC increased its position in shares of Modine Manufacturing by 0.6% during the 1st quarter. Riverwater Partners LLC now owns 23,633 shares of the auto parts company’s stock worth $2,250,000 after purchasing an additional 152 shares during the last quarter. SummerHaven Investment Management LLC increased its position in shares of Modine Manufacturing by 0.7% during the 2nd quarter. SummerHaven Investment Management LLC now owns 21,194 shares of the auto parts company’s stock worth $2,123,000 after purchasing an additional 155 shares during the last quarter. Horizon Investment Services LLC lifted its position in Modine Manufacturing by 4.4% in the first quarter. Horizon Investment Services LLC now owns 4,558 shares of the auto parts company’s stock valued at $434,000 after buying an additional 191 shares during the last quarter. Finally, Ameritas Advisory Services LLC boosted its stake in Modine Manufacturing by 2.9% during the second quarter. Ameritas Advisory Services LLC now owns 7,000 shares of the auto parts company’s stock worth $701,000 after buying an additional 200 shares during the period. Institutional investors and hedge funds own 95.23% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on MOD shares. B. Riley upped their price objective on shares of Modine Manufacturing from $125.00 to $140.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. William Blair assumed coverage on Modine Manufacturing in a research note on Monday, July 29th. They set an “outperform” rating on the stock. Oppenheimer reaffirmed an “outperform” rating and issued a $135.00 price objective on shares of Modine Manufacturing in a research note on Thursday, September 12th. Finally, DA Davidson increased their target price on Modine Manufacturing from $120.00 to $140.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $138.33.

Modine Manufacturing Stock Performance

Shares of MOD stock opened at $127.49 on Friday. The firm has a 50 day moving average of $108.59 and a two-hundred day moving average of $100.46. The stock has a market capitalization of $6.68 billion, a PE ratio of 42.08, a P/E/G ratio of 0.83 and a beta of 2.22. The company has a quick ratio of 1.11, a current ratio of 1.80 and a debt-to-equity ratio of 0.51. Modine Manufacturing has a 52 week low of $38.50 and a 52 week high of $127.58.

Modine Manufacturing (NYSE:MOD) last released its earnings results on Tuesday, July 30th. The auto parts company reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.86 by $0.18. Modine Manufacturing had a return on equity of 24.92% and a net margin of 6.70%. The firm had revenue of $661.50 million during the quarter, compared to analyst estimates of $633.55 million. During the same period last year, the business posted $0.85 earnings per share. Modine Manufacturing’s revenue was up 6.3% compared to the same quarter last year. On average, research analysts predict that Modine Manufacturing will post 3.85 EPS for the current fiscal year.

Insider Transactions at Modine Manufacturing

In related news, Director Marsha C. Williams sold 34,400 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $109.74, for a total value of $3,775,056.00. Following the sale, the director now owns 144,038 shares of the company’s stock, valued at $15,806,730.12. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 2.40% of the company’s stock.

Modine Manufacturing Profile

Modine Manufacturing Company provides thermal management products and solutions in the United States, Italy, Hungary, China, the United Kingdom, and internationally. It operates through Climate Solutions and Performance Technologies segments. The company offers heat transfer coils, including heat recovery and round tube plate fin coils; gas-fired, hydronic, electric and oilfired unit heaters; roof-mounted direct- and indirect-fired makeup air units; duct furnaces; infrared units; perimeter heating products; single packaged unit ventilators; modular chillers; air handler and condensing units; ceiling cassettes; evaporator unit coolers, remote condensers, fluid coolers, gas coolers, and dry and brine coolers; and motor and generator cooling coils, transformer oil coolers, radiators, dryers, and industrial heat exchangers.