Pitcairn Co. Sells 2,145 Shares of Modine Manufacturing (NYSE:MOD)

Pitcairn Co. trimmed its holdings in shares of Modine Manufacturing (NYSE:MOD) by 24.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,474 shares of the auto parts company’s stock after selling 2,145 shares during the quarter. Pitcairn Co.’s holdings in Modine Manufacturing were worth $860,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Acadian Asset Management LLC bought a new stake in shares of Modine Manufacturing during the first quarter worth $37,000. Opal Wealth Advisors LLC bought a new stake in shares of Modine Manufacturing in the second quarter valued at about $51,000. West Oak Capital LLC raised its holdings 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 valued at $60,000 after acquiring an additional 450 shares in the last quarter. Fifth Third Bancorp bought a new stake in shares of Modine Manufacturing in the second quarter valued at about $64,000. Finally, DekaBank Deutsche Girozentrale bought a new stake in shares of Modine Manufacturing in the second quarter valued at about $68,000. 95.23% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

MOD has been the subject of several recent research reports. B. Riley lifted their price objective on Modine Manufacturing from $125.00 to $140.00 and gave the company a “buy” rating in a report on Thursday, August 1st. William Blair initiated coverage on Modine Manufacturing in a report on Monday, July 29th. They issued an “outperform” rating for the company. Oppenheimer lifted their price objective on Modine Manufacturing from $144.00 to $145.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Finally, DA Davidson boosted their target price on shares of Modine Manufacturing from $140.00 to $155.00 and gave the stock a “buy” rating in a report on Tuesday, September 24th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $146.67.

Modine Manufacturing Stock Performance

Shares of Modine Manufacturing stock opened at $143.22 on Monday. Modine Manufacturing has a one year low of $48.88 and a one year high of $144.02. The company has a market capitalization of $7.52 billion, a PE ratio of 46.96, a P/E/G ratio of 1.10 and a beta of 2.25. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.09 and a current ratio of 1.77. The company has a 50-day simple moving average of $128.14 and a two-hundred day simple moving average of $112.40.

Modine Manufacturing (NYSE:MOD) last released its earnings results on Tuesday, October 29th. The auto parts company reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.05. Modine Manufacturing had a net margin of 6.59% and a return on equity of 23.96%. The company had revenue of $658.00 million during the quarter, compared to analysts’ expectations of $646.86 million. During the same period last year, the business earned $0.89 EPS. Modine Manufacturing’s revenue for the quarter was up 6.0% on a year-over-year basis. Research analysts expect that Modine Manufacturing will post 3.83 EPS for the current fiscal year.

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.