Williams & Novak LLC Sells 330 Shares of Modine Manufacturing (NYSE:MOD)

Williams & Novak LLC reduced its holdings in shares of Modine Manufacturing (NYSE:MOD) by 5.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,650 shares of the auto parts company’s stock after selling 330 shares during the quarter. Williams & Novak LLC’s holdings in Modine Manufacturing were worth $750,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Banque Cantonale Vaudoise raised its stake in shares of Modine Manufacturing by 9.8% in the second quarter. Banque Cantonale Vaudoise now owns 1,165 shares of the auto parts company’s stock valued at $117,000 after buying an additional 104 shares during the period. Riverwater Partners LLC raised its stake in shares of 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 buying an additional 152 shares during the period. Xponance Inc. grew its position in shares of Modine Manufacturing by 4.9% in 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 in the last quarter. SummerHaven Investment Management LLC grew its position 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 valued at $2,123,000 after purchasing an additional 155 shares in the last quarter. Finally, Horizon Investment Services LLC grew its position 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 valued at $434,000 after purchasing an additional 191 shares in the last quarter. 95.23% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. DA Davidson lifted their price target on Modine Manufacturing from $140.00 to $155.00 and gave the company a “buy” rating in a research report on Tuesday, September 24th. William Blair started coverage on Modine Manufacturing in a research report on Monday, July 29th. They issued an “outperform” rating for the company. B. Riley boosted their target price on Modine Manufacturing from $125.00 to $140.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Finally, Oppenheimer restated an “outperform” rating and set a $135.00 target price on shares of Modine Manufacturing in a research report on Thursday, September 12th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Modine Manufacturing has an average rating of “Moderate Buy” and a consensus target price of $143.33.

Modine Manufacturing Price Performance

Modine Manufacturing stock opened at $133.34 on Tuesday. The business has a 50-day simple moving average of $113.58 and a 200 day simple moving average of $103.95. Modine Manufacturing has a 52 week low of $38.50 and a 52 week high of $138.99. The company has a quick ratio of 1.11, a current ratio of 1.80 and a debt-to-equity ratio of 0.51. The stock has a market cap of $6.99 billion, a price-to-earnings ratio of 44.01, a PEG ratio of 0.97 and a beta of 2.22.

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, topping 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 analysts’ expectations of $633.55 million. During the same period in the prior year, the business earned $0.85 EPS. The company’s revenue for the quarter was up 6.3% compared to the same quarter last year. On average, research analysts forecast that Modine Manufacturing will post 3.85 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Marsha C. Williams sold 34,400 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $109.74, for a total value of $3,775,056.00. Following the completion of the sale, the director now owns 144,038 shares of the company’s stock, valued at approximately $15,806,730.12. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 2.40% of the stock is currently owned by corporate 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.