Front Street Capital Management Inc. Sells 665 Shares of Modine Manufacturing (NYSE:MOD)

Front Street Capital Management Inc. cut its position in shares of Modine Manufacturing (NYSE:MOD) by 0.8% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 77,904 shares of the auto parts company’s stock after selling 665 shares during the quarter. Modine Manufacturing accounts for about 1.5% of Front Street Capital Management Inc.’s portfolio, making the stock its 19th biggest holding. Front Street Capital Management Inc. owned about 0.15% of Modine Manufacturing worth $7,805,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of MOD. Principal Securities Inc. acquired a new stake in shares of Modine Manufacturing in the fourth quarter valued at approximately $29,000. Acadian Asset Management LLC bought a new position in shares of Modine Manufacturing in the first quarter valued at $37,000. Opal Wealth Advisors LLC bought a new stake in shares of Modine Manufacturing in the second quarter valued at approximately $51,000. West Oak Capital LLC grew its stake in Modine Manufacturing by 300.0% in the 2nd quarter. West Oak Capital LLC now owns 600 shares of the auto parts company’s stock worth $60,000 after buying an additional 450 shares in the last quarter. Finally, Fifth Third Bancorp purchased a new stake in shares of Modine Manufacturing during the second quarter valued at approximately $64,000. 95.23% of the stock is currently owned by institutional investors.

Modine Manufacturing Stock Performance

NYSE MOD opened at $127.14 on Tuesday. The company has a market cap of $6.66 billion, a P/E ratio of 41.96, a P/E/G ratio of 0.83 and a beta of 2.22. 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 business’s 50 day moving average price is $109.28 and its 200-day moving average price is $101.15. Modine Manufacturing has a fifty-two week low of $38.50 and a fifty-two week high of $131.28.

Modine Manufacturing (NYSE:MOD) last posted its quarterly earnings data 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 company had revenue of $661.50 million during the quarter, compared to analysts’ expectations of $633.55 million. During the same quarter in the previous year, the business earned $0.85 EPS. Modine Manufacturing’s revenue was up 6.3% compared to the same quarter last year. Sell-side analysts predict that Modine Manufacturing will post 3.85 earnings per share for the current year.

Insider Buying and Selling at Modine Manufacturing

In related news, Director Marsha C. Williams sold 34,400 shares of the company’s 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 2.40% of the stock is owned by insiders.

Wall Street Analyst Weigh In

MOD has been the subject of several research reports. DA Davidson upped their price objective on shares of Modine Manufacturing from $120.00 to $140.00 and gave the stock a “buy” rating in a 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 reissued an “outperform” rating and issued a $135.00 target price on shares of Modine Manufacturing in a research note on Thursday, September 12th. Finally, B. Riley upped their price target on Modine Manufacturing from $125.00 to $140.00 and gave the company a “buy” rating in a report on Thursday, August 1st. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Modine Manufacturing currently has a consensus rating of “Moderate Buy” and a consensus price target of $138.33.

About Modine Manufacturing

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.