Modine Manufacturing (NYSE:MOD) Holdings Decreased by Paradigm Capital Management Inc. NY

Paradigm Capital Management Inc. NY lowered its position in Modine Manufacturing (NYSE:MOD) by 1.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,649,300 shares of the auto parts company’s stock after selling 20,600 shares during the quarter. Modine Manufacturing makes up approximately 7.5% of Paradigm Capital Management Inc. NY’s portfolio, making the stock its 2nd biggest position. Paradigm Capital Management Inc. NY owned about 3.15% of Modine Manufacturing worth $165,243,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of MOD. Banque Cantonale Vaudoise boosted its holdings in Modine Manufacturing by 9.8% during the 2nd quarter. Banque Cantonale Vaudoise now owns 1,165 shares of the auto parts company’s stock valued at $117,000 after acquiring an additional 104 shares during the period. Riverwater Partners LLC lifted its position in Modine Manufacturing by 0.6% in the first quarter. Riverwater Partners LLC now owns 23,633 shares of the auto parts company’s stock valued at $2,250,000 after purchasing an additional 152 shares during the last quarter. Xponance Inc. boosted its stake in shares of Modine Manufacturing by 4.9% during the second quarter. Xponance Inc. now owns 3,270 shares of the auto parts company’s stock valued at $328,000 after purchasing an additional 153 shares during the period. SummerHaven Investment Management LLC grew its holdings in shares of Modine Manufacturing by 0.7% in the second 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. Finally, Horizon Investment Services LLC increased its stake in shares of 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 worth $434,000 after buying an additional 191 shares during the period. 95.23% of the stock is currently owned by institutional investors.

Modine Manufacturing Stock Performance

Shares of MOD opened at $127.14 on Tuesday. The company has a 50-day simple moving average of $109.28 and a two-hundred day simple moving average of $101.15. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.80 and a quick ratio of 1.11. The firm has a market capitalization of $6.66 billion, a PE ratio of 41.96, a price-to-earnings-growth ratio of 0.83 and a beta of 2.22. Modine Manufacturing has a one year low of $38.50 and a one year high of $131.28.

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

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In other Modine Manufacturing news, Director Marsha C. Williams sold 34,400 shares of the company’s stock in a transaction dated 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 in the company, valued at $15,806,730.12. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 2.40% of the stock is owned by company insiders.

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.