Modine Manufacturing (NYSE:MOD) Shares Sold by O Shaughnessy Asset Management LLC

O Shaughnessy Asset Management LLC trimmed its stake in Modine Manufacturing (NYSE:MOD) by 10.1% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 27,821 shares of the auto parts company’s stock after selling 3,128 shares during the quarter. O Shaughnessy Asset Management LLC owned approximately 0.05% of Modine Manufacturing worth $2,648,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the stock. Riverwater Partners LLC increased its stake in Modine Manufacturing by 0.6% in the first quarter. Riverwater Partners LLC now owns 23,633 shares of the auto parts company’s stock valued at $2,250,000 after purchasing an additional 152 shares during the last quarter. Horizon Investment Services LLC increased its stake in Modine Manufacturing by 4.4% in the first quarter. Horizon Investment Services LLC now owns 4,558 shares of the auto parts company’s stock valued at $434,000 after purchasing an additional 191 shares during the last quarter. SummerHaven Investment Management LLC increased its stake in Modine Manufacturing by 0.9% in the fourth quarter. SummerHaven Investment Management LLC now owns 20,895 shares of the auto parts company’s stock valued at $1,247,000 after purchasing an additional 192 shares during the last quarter. Nordea Investment Management AB increased its stake in Modine Manufacturing by 0.4% in the first quarter. Nordea Investment Management AB now owns 82,126 shares of the auto parts company’s stock valued at $7,879,000 after purchasing an additional 338 shares during the last quarter. Finally, Strid Group LLC acquired a new position in Modine Manufacturing in the first quarter valued at $33,000. 95.23% of the stock is owned by institutional investors and hedge funds.

Modine Manufacturing Trading Down 16.5 %

MOD stock traded down $19.44 during trading on Wednesday, reaching $98.70. 1,452,863 shares of the stock traded hands, compared to its average volume of 932,896. The business’s 50 day moving average price is $101.41 and its 200-day moving average price is $90.26. Modine Manufacturing has a 52-week low of $35.12 and a 52-week high of $120.11. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.64 and a quick ratio of 0.98. The firm has a market capitalization of $5.17 billion, a PE ratio of 33.61, a P/E/G ratio of 0.91 and a beta of 2.27.

Modine Manufacturing (NYSE:MOD) last posted its quarterly earnings results on Tuesday, May 21st. The auto parts company reported $0.77 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.02). Modine Manufacturing had a net margin of 6.71% and a return on equity of 24.69%. The firm had revenue of $603.50 million for the quarter, compared to analysts’ expectations of $605.44 million. During the same period last year, the firm posted $0.67 EPS. Modine Manufacturing’s revenue was down 2.4% on a year-over-year basis. As a group, sell-side analysts forecast that Modine Manufacturing will post 3.7 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms recently commented on MOD. DA Davidson upped their target price on Modine Manufacturing from $110.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, May 24th. B. Riley reiterated a “buy” rating and issued a $125.00 target price on shares of Modine Manufacturing in a research note on Thursday, June 27th. Finally, Oppenheimer boosted their price target on Modine Manufacturing from $105.00 to $110.00 and gave the company an “outperform” rating in a research report on Thursday, May 23rd.

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.