Mesirow Financial Investment Management Inc. Cuts Stock Position in Modine Manufacturing (NYSE:MOD)

Mesirow Financial Investment Management Inc. trimmed its position in shares of Modine Manufacturing (NYSE:MOD) by 23.1% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,453 shares of the auto parts company’s stock after selling 1,638 shares during the quarter. Modine Manufacturing makes up approximately 2.6% of Mesirow Financial Investment Management Inc.’s holdings, making the stock its 2nd largest position. Mesirow Financial Investment Management Inc.’s holdings in Modine Manufacturing were worth $519,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Reinhart Partners LLC. purchased a new position in shares of Modine Manufacturing during the fourth quarter valued at approximately $41,129,000. American Century Companies Inc. lifted its holdings in shares of Modine Manufacturing by 570.1% during the third quarter. American Century Companies Inc. now owns 700,758 shares of the auto parts company’s stock valued at $32,060,000 after purchasing an additional 596,177 shares during the last quarter. Hennessy Advisors Inc. purchased a new position in shares of Modine Manufacturing during the fourth quarter valued at approximately $35,414,000. Adage Capital Partners GP L.L.C. lifted its holdings in shares of Modine Manufacturing by 159.5% during the third quarter. Adage Capital Partners GP L.L.C. now owns 480,118 shares of the auto parts company’s stock valued at $21,965,000 after purchasing an additional 295,118 shares during the last quarter. Finally, Capital International Investors lifted its holdings in shares of Modine Manufacturing by 35.1% during the fourth quarter. Capital International Investors now owns 1,013,899 shares of the auto parts company’s stock valued at $60,530,000 after purchasing an additional 263,614 shares during the last quarter. 95.23% of the stock is owned by institutional investors.

Analyst Ratings Changes

MOD has been the subject of several recent research reports. Oppenheimer lifted their target price on shares of Modine Manufacturing from $105.00 to $110.00 and gave the company an “outperform” rating in a report on Thursday, May 23rd. B. Riley restated a “buy” rating and issued a $125.00 price objective on shares of Modine Manufacturing in a report on Thursday, June 27th. Finally, DA Davidson boosted their price objective on shares of Modine Manufacturing from $110.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, May 24th.

Modine Manufacturing Stock Up 2.5 %

NYSE MOD traded up $2.60 during mid-day trading on Wednesday, reaching $107.97. The stock had a trading volume of 463,785 shares, compared to its average volume of 948,557. Modine Manufacturing has a 1 year low of $32.17 and a 1 year high of $109.53. The stock has a market cap of $5.65 billion, a PE ratio of 35.79, a price-to-earnings-growth ratio of 0.80 and a beta of 2.27. The company has a fifty day moving average price of $98.18 and a 200 day moving average price of $84.94. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.64 and a quick ratio of 0.98.

Modine Manufacturing (NYSE:MOD) last released its quarterly earnings results on Tuesday, May 21st. The auto parts company reported $0.77 earnings per share for the quarter, missing the consensus estimate of $0.79 by ($0.02). The firm had revenue of $603.50 million for the quarter, compared to the consensus estimate of $605.44 million. Modine Manufacturing had a net margin of 6.71% and a return on equity of 24.69%. Modine Manufacturing’s quarterly revenue was down 2.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.67 earnings per share. On average, research analysts expect that Modine Manufacturing will post 3.7 earnings per share for the current year.

About Modine Manufacturing

Modine Manufacturing Company provides engineered heat transfer systems and heat transfer components for use in on- and off-highway original equipment manufacturer (OEM) vehicular applications. It operates through Climate Solutions and Performance Technologies segments. The company offers gas-fired, hydronic, electric, and oil-fired unit heaters; indoor and outdoor duct furnaces; infrared units; perimeter heating products, such as commercial fin-tube radiation, cabinet unit heaters, and convectors; roof-mounted direct- and indirect-fired makeup air units; unit ventilators; single packaged vertical units; precision air conditioning units for data center applications; air handler units; fan walls; chillers; ceiling cassettes; hybrid fan coils; and condensers and condensing units.