Viking Fund Management LLC Sells 5,000 Shares of Modine Manufacturing Company $MOD

Viking Fund Management LLC reduced its stake in Modine Manufacturing Company (NYSE:MOD) by 38.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,000 shares of the auto parts company’s stock after selling 5,000 shares during the quarter. Viking Fund Management LLC’s holdings in Modine Manufacturing were worth $1,137,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in MOD. Parkside Financial Bank & Trust raised its holdings in Modine Manufacturing by 2,025.0% during the 2nd quarter. Parkside Financial Bank & Trust now owns 425 shares of the auto parts company’s stock worth $42,000 after purchasing an additional 405 shares during the last quarter. Maseco LLP acquired a new stake in shares of Modine Manufacturing during the second quarter worth $51,000. GAMMA Investing LLC increased its position in shares of Modine Manufacturing by 52.6% during the second quarter. GAMMA Investing LLC now owns 560 shares of the auto parts company’s stock worth $55,000 after buying an additional 193 shares during the period. Elevation Point Wealth Partners LLC bought a new position in Modine Manufacturing during the second quarter worth $57,000. Finally, Toth Financial Advisory Corp acquired a new position in Modine Manufacturing in the third quarter valued at $57,000. 95.23% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO Neil David Brinker sold 31,871 shares of Modine Manufacturing stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $160.56, for a total value of $5,117,207.76. Following the completion of the sale, the chief executive officer owned 238,312 shares of the company’s stock, valued at approximately $38,263,374.72. This trade represents a 11.80% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.48% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on MOD shares. Zacks Research downgraded Modine Manufacturing from a “strong-buy” rating to a “hold” rating in a report on Monday, September 29th. Weiss Ratings restated a “hold (c)” rating on shares of Modine Manufacturing in a research report on Monday, December 15th. Oppenheimer raised their target price on Modine Manufacturing from $145.00 to $180.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 14th. DA Davidson reissued a “buy” rating and issued a $200.00 price target on shares of Modine Manufacturing in a research note on Wednesday, November 19th. Finally, UBS Group started coverage on Modine Manufacturing in a report on Thursday, November 20th. They set a “buy” rating and a $173.00 price target on the stock. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, Modine Manufacturing currently has a consensus rating of “Moderate Buy” and an average target price of $182.00.

Modine Manufacturing Stock Performance

Shares of MOD opened at $135.86 on Friday. Modine Manufacturing Company has a one year low of $64.79 and a one year high of $166.94. The company has a market cap of $7.15 billion, a PE ratio of 39.27, a P/E/G ratio of 0.86 and a beta of 1.69. The stock has a 50-day moving average of $150.89 and a 200-day moving average of $132.56. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.00 and a quick ratio of 1.16.

Modine Manufacturing (NYSE:MOD) last announced its quarterly earnings results on Tuesday, October 28th. The auto parts company reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.09. Modine Manufacturing had a return on equity of 23.19% and a net margin of 6.93%.The business had revenue of $738.90 million for the quarter, compared to analyst estimates of $699.91 million. During the same quarter in the prior year, the company earned $0.97 earnings per share. The company’s quarterly revenue was up 12.3% on a year-over-year basis. On average, equities research analysts predict that Modine Manufacturing Company will post 3.88 EPS for the current fiscal year.

Modine Manufacturing Profile

Modine Manufacturing Company (NYSE:MOD) is a global provider of thermal management solutions serving automotive, commercial transportation, heavy-duty off-highway, industrial, HVAC and refrigeration markets. The company designs, manufactures, tests and markets a broad array of heat-transfer products that manage temperature and energy efficiency for engines, power electronics and building climate control systems.

Its product portfolio includes heat exchangers, condensers, radiators, evaporators, charge air coolers, fan systems and associated controls.