Modine Manufacturing (NYSE:MOD) Shares Sold by Inspire Investing LLC

Inspire Investing LLC lowered its position in Modine Manufacturing (NYSE:MOD) by 5.9% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,558 shares of the auto parts company’s stock after selling 225 shares during the quarter. Inspire Investing LLC’s holdings in Modine Manufacturing were worth $356,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MOD. Principal Securities Inc. acquired a new position in shares of Modine Manufacturing during the fourth quarter worth $29,000. UBS Group AG lifted its holdings in Modine Manufacturing by 19.8% during the 4th quarter. UBS Group AG now owns 247,047 shares of the auto parts company’s stock worth $14,749,000 after buying an additional 40,883 shares during the last quarter. Corient Private Wealth LLC acquired a new position in shares of Modine Manufacturing during the 4th quarter worth about $548,000. Trexquant Investment LP acquired a new position in shares of Modine Manufacturing during the 4th quarter worth about $889,000. Finally, Assetmark Inc. increased its holdings in shares of Modine Manufacturing by 12.5% in the 4th quarter. Assetmark Inc. now owns 6,069 shares of the auto parts company’s stock valued at $362,000 after acquiring an additional 673 shares during the last quarter. Institutional investors and hedge funds own 95.23% of the company’s stock.

Insider Activity at Modine Manufacturing

In other Modine Manufacturing news, Director Marsha C. Williams sold 34,400 shares of the stock in a transaction that occurred 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 completion of the sale, 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 Securities & Exchange Commission, which can be accessed through this hyperlink. 2.40% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

MOD has been the subject of a number of research analyst reports. DA Davidson upped their price target on Modine Manufacturing from $120.00 to $140.00 and gave the company a “buy” rating in a report on Thursday, August 1st. William Blair initiated coverage on shares of Modine Manufacturing in a report on Monday, July 29th. They issued an “outperform” rating for the company. Oppenheimer reaffirmed an “outperform” rating and issued a $135.00 target price on shares of Modine Manufacturing in a research report on Thursday, September 12th. Finally, B. Riley boosted 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. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $138.33.

Modine Manufacturing Price Performance

MOD stock opened at $128.32 on Friday. The business has a 50 day simple moving average of $109.01 and a 200-day simple moving average of $100.79. The company has a market capitalization of $6.72 billion, a P/E ratio of 42.35, a PEG ratio of 0.83 and a beta of 2.22. Modine Manufacturing has a twelve month low of $38.50 and a twelve month high of $130.53. The company has a current ratio of 1.80, a quick ratio of 1.11 and a debt-to-equity ratio of 0.51.

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

Modine Manufacturing Company 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.