Significant Wealth Partners LLC Decreases Stock Holdings in Modine Manufacturing Company $MOD

Significant Wealth Partners LLC reduced its position in shares of Modine Manufacturing Company (NYSE:MOD) by 54.6% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,342 shares of the auto parts company’s stock after selling 2,818 shares during the quarter. Significant Wealth Partners LLC’s holdings in Modine Manufacturing were worth $313,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Union Bancaire Privee UBP SA bought a new stake in Modine Manufacturing in the 4th quarter worth $892,000. Allworth Financial LP increased its position in shares of Modine Manufacturing by 38.8% in the third quarter. Allworth Financial LP now owns 1,002 shares of the auto parts company’s stock valued at $142,000 after acquiring an additional 280 shares during the period. IFP Advisors Inc raised its stake in shares of Modine Manufacturing by 25.6% during the third quarter. IFP Advisors Inc now owns 887 shares of the auto parts company’s stock valued at $126,000 after acquiring an additional 181 shares during the last quarter. Swiss Life Asset Management Ltd bought a new position in shares of Modine Manufacturing during the third quarter valued at about $321,000. Finally, Penn Capital Management Company LLC purchased a new stake in shares of Modine Manufacturing during the third quarter worth about $14,925,000. Hedge funds and other institutional investors own 95.23% of the company’s stock.

Modine Manufacturing Price Performance

Shares of NYSE MOD opened at $196.66 on Friday. Modine Manufacturing Company has a 1 year low of $64.79 and a 1 year high of $243.80. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.19 and a quick ratio of 1.28. The company’s 50-day moving average is $190.71 and its 200 day moving average is $161.88. The stock has a market capitalization of $10.37 billion, a P/E ratio of 109.25, a P/E/G ratio of 1.23 and a beta of 1.67.

Modine Manufacturing (NYSE:MOD) last issued its quarterly earnings data on Wednesday, February 4th. The auto parts company reported $1.19 EPS for the quarter, topping the consensus estimate of $0.99 by $0.20. The business had revenue of $805.00 million during the quarter, compared to analyst estimates of $763.54 million. Modine Manufacturing had a net margin of 3.40% and a return on equity of 22.99%. Modine Manufacturing’s quarterly revenue was up 30.5% compared to the same quarter last year. During the same period last year, the business posted $0.92 earnings per share. On average, sell-side analysts expect that Modine Manufacturing Company will post 3.88 earnings per share for the current year.

Analyst Ratings Changes

MOD has been the topic of a number of research analyst reports. Wall Street Zen downgraded Modine Manufacturing from a “buy” rating to a “hold” rating in a report on Sunday, February 22nd. DA Davidson increased their price objective on Modine Manufacturing from $255.00 to $265.00 and gave the stock a “buy” rating in a report on Monday, February 9th. Weiss Ratings reiterated a “hold (c)” rating on shares of Modine Manufacturing in a research report on Monday, December 29th. Zacks Research raised Modine Manufacturing from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 30th. Finally, Roth Mkm assumed coverage on Modine Manufacturing in a report on Wednesday, February 18th. They set a “buy” rating and a $263.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, Modine Manufacturing has a consensus rating of “Buy” and an average price target of $223.20.

Insider Activity at Modine Manufacturing

In other news, Director Suresh V. Garimella sold 1,100 shares of the firm’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $184.07, for a total value of $202,477.00. Following the completion of the transaction, the director owned 79,856 shares in the company, valued at $14,699,093.92. This trade represents a 1.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.48% of the stock is currently owned by insiders.

About Modine Manufacturing

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.