Thrivent Financial for Lutherans Sells 25,718 Shares of Modine Manufacturing (NYSE:MOD)

Thrivent Financial for Lutherans decreased its position in Modine Manufacturing (NYSE:MOD) by 9.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 256,505 shares of the auto parts company’s stock after selling 25,718 shares during the quarter. Thrivent Financial for Lutherans owned approximately 0.49% of Modine Manufacturing worth $25,699,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Acadian Asset Management LLC purchased a new stake in shares of Modine Manufacturing in the first quarter worth $37,000. Principal Securities Inc. purchased a new stake in shares of Modine Manufacturing in the fourth quarter worth $29,000. Opal Wealth Advisors LLC purchased a new stake in shares of Modine Manufacturing in the second quarter worth $51,000. West Oak Capital LLC grew its stake in shares of Modine Manufacturing by 300.0% in the second quarter. West Oak Capital LLC now owns 600 shares of the auto parts company’s stock worth $60,000 after acquiring an additional 450 shares during the last quarter. Finally, Fifth Third Bancorp purchased a new stake in shares of Modine Manufacturing in the second quarter worth $64,000. Institutional investors own 95.23% of the company’s stock.

Insider Activity

In other news, Director Marsha C. Williams sold 34,400 shares of Modine Manufacturing stock in a transaction dated 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 directly owns 144,038 shares of the company’s stock, valued at approximately $15,806,730.12. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 2.40% of the company’s stock.

Modine Manufacturing Stock Down 0.9 %

MOD stock opened at $127.14 on Tuesday. Modine Manufacturing has a fifty-two week low of $38.50 and a fifty-two week high of $131.28. The business’s 50-day moving average is $109.28 and its two-hundred day moving average is $101.15. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.11 and a current ratio of 1.80. The company has a market cap of $6.66 billion, a price-to-earnings ratio of 41.96, a P/E/G ratio of 0.83 and a beta of 2.22.

Modine Manufacturing (NYSE:MOD) last posted its earnings results on Tuesday, July 30th. The auto parts company reported $1.04 earnings per share 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 company had revenue of $661.50 million for the quarter, compared to the consensus estimate of $633.55 million. During the same quarter in the prior year, the company earned $0.85 earnings per share. Modine Manufacturing’s revenue was up 6.3% on a year-over-year basis. As a group, analysts forecast that Modine Manufacturing will post 3.85 earnings per share for the current year.

Wall Street Analyst Weigh In

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

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.