Reinhart Partners LLC. Lowers Stake in Modine Manufacturing Company $MOD

Reinhart Partners LLC. trimmed its position in Modine Manufacturing Company (NYSE:MOD) by 18.4% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 890,702 shares of the auto parts company’s stock after selling 200,859 shares during the period. Modine Manufacturing comprises 4.1% of Reinhart Partners LLC.’s portfolio, making the stock its 4th biggest holding. Reinhart Partners LLC. owned about 1.70% of Modine Manufacturing worth $126,624,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in MOD. Wasatch Advisors LP boosted its holdings in shares of Modine Manufacturing by 1.4% in the second quarter. Wasatch Advisors LP now owns 1,792,413 shares of the auto parts company’s stock worth $176,553,000 after buying an additional 23,955 shares during the last quarter. State Street Corp increased its holdings in Modine Manufacturing by 4.2% during the second quarter. State Street Corp now owns 1,309,488 shares of the auto parts company’s stock valued at $128,985,000 after buying an additional 53,351 shares during the last quarter. Geode Capital Management LLC raised its position in Modine Manufacturing by 1.2% in the second quarter. Geode Capital Management LLC now owns 1,214,976 shares of the auto parts company’s stock worth $119,690,000 after acquiring an additional 14,096 shares during the period. Artisan Partners Limited Partnership boosted its stake in shares of Modine Manufacturing by 2.6% during the 2nd quarter. Artisan Partners Limited Partnership now owns 941,779 shares of the auto parts company’s stock worth $92,765,000 after acquiring an additional 24,312 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its position in shares of Modine Manufacturing by 0.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 800,471 shares of the auto parts company’s stock valued at $78,846,000 after acquiring an additional 2,554 shares during the period. Hedge funds and other institutional investors own 95.23% of the company’s stock.

Insider Transactions at Modine Manufacturing

In other Modine Manufacturing 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 sale, the chief executive officer directly owned 238,312 shares in the company, valued at approximately $38,263,374.72. The trade was a 11.80% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 2.48% of the company’s stock.

Modine Manufacturing Price Performance

Shares of Modine Manufacturing stock opened at $136.38 on Friday. The company has a market capitalization of $7.18 billion, a price-to-earnings ratio of 39.42, a PEG ratio of 0.84 and a beta of 1.70. The company has a quick ratio of 1.16, a current ratio of 2.00 and a debt-to-equity ratio of 0.50. The stock’s 50-day simple moving average is $141.85 and its 200-day simple moving average is $137.35. Modine Manufacturing Company has a 52 week low of $64.79 and a 52 week high of $166.94.

Modine Manufacturing (NYSE:MOD) last released its 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 firm had revenue of $738.90 million during the quarter, compared to analysts’ expectations of $699.91 million. During the same quarter last year, the business posted $0.97 earnings per share. The firm’s revenue was up 12.3% on a year-over-year basis. As a group, analysts expect that Modine Manufacturing Company will post 3.88 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

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.