Moody Aldrich Partners LLC Acquires 4,400 Shares of Modine Manufacturing Company $MOD

by · The Cerbat Gem

Moody Aldrich Partners LLC increased its holdings in Modine Manufacturing Company (NYSE:MOD – Free Report) by 9.1% in the 3rd quarter, Holdings Channel reports. The fund owned 52,800 shares of the auto parts company’s stock after purchasing an additional 4,400 shares during the period. Modine Manufacturing makes up about 1.4% of Moody Aldrich Partners LLC’s portfolio, making the stock its 7th biggest position. Moody Aldrich Partners LLC’s holdings in Modine Manufacturing were worth $7,506,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of MOD. Champlain Investment Partners LLC lifted its position in shares of Modine Manufacturing by 244.3% in the second quarter. Champlain Investment Partners LLC now owns 743,643 shares of the auto parts company’s stock worth $73,249,000 after purchasing an additional 527,626 shares in the last quarter. Congress Asset Management Co. increased its stake in Modine Manufacturing by 954.8% in the 3rd quarter. Congress Asset Management Co. now owns 527,480 shares of the auto parts company’s stock valued at $74,987,000 after buying an additional 477,473 shares during the period. Norges Bank purchased a new stake in Modine Manufacturing in the 2nd quarter worth approximately $41,081,000. Hood River Capital Management LLC boosted its stake in shares of Modine Manufacturing by 222.8% during the 2nd quarter. Hood River Capital Management LLC now owns 564,466 shares of the auto parts company’s stock valued at $55,600,000 after buying an additional 389,574 shares during the period. Finally, Adage Capital Partners GP L.L.C. purchased a new position in shares of Modine Manufacturing during the 2nd quarter valued at $28,322,000. Hedge funds and other institutional investors own 95.23% of the company’s stock.

Analyst Ratings Changes

MOD has been the subject of a number of research reports. Oppenheimer lifted their price objective on Modine Manufacturing from $145.00 to $180.00 and gave the company an “outperform” rating in a research report on Tuesday, October 14th. Weiss Ratings reiterated a “hold (c)” rating on shares of Modine Manufacturing in a report on Monday. UBS Group began coverage on Modine Manufacturing in a research note on Thursday, November 20th. They issued a “buy” rating and a $173.00 price target for the company. KeyCorp raised their price objective on shares of Modine Manufacturing from $160.00 to $175.00 and gave the company an “overweight” rating in a research report on Tuesday, October 14th. Finally, DA Davidson reissued a “buy” rating and issued a $200.00 target price on shares of Modine Manufacturing in a research report on Wednesday, November 19th. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $182.00.

Get Our Latest Stock Analysis on MOD

Insider Activity

In related news, CEO Neil David Brinker sold 31,871 shares of the firm’s 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 transaction, the chief executive officer directly owned 238,312 shares in the company, valued at approximately $38,263,374.72. This trade represents a 11.80% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 2.48% of the company’s stock.

Modine Manufacturing Stock Down 1.6%

Shares of MOD stock opened at $133.02 on Thursday. The stock’s 50 day simple moving average is $147.85 and its 200 day simple moving average is $134.98. Modine Manufacturing Company has a twelve month low of $64.79 and a twelve month high of $166.94. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.16 and a current ratio of 2.00. The company has a market capitalization of $7.00 billion, a price-to-earnings ratio of 38.45, a PEG ratio of 0.86 and a beta of 1.69.

Modine Manufacturing (NYSE:MOD – Get Free Report) last announced its earnings results on Tuesday, October 28th. The auto parts company reported $1.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 in the prior year, the business earned $0.97 earnings per share. The company’s revenue was up 12.3% on a year-over-year basis. As a group, research analysts predict that Modine Manufacturing Company will post 3.88 EPS for the current year.

Modine Manufacturing Company Profile

(Free Report)

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.

See Also

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