Jennison Associates LLC Sells 639 Shares of Modine Manufacturing (NYSE:MOD)

Jennison Associates LLC lessened its stake in Modine Manufacturing (NYSE:MOD) by 9.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,273 shares of the auto parts company’s stock after selling 639 shares during the period. Jennison Associates LLC’s holdings in Modine Manufacturing were worth $833,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of MOD. Vanguard Group Inc. lifted its stake in shares of Modine Manufacturing by 27.3% during the first quarter. Vanguard Group Inc. now owns 3,909,016 shares of the auto parts company’s stock valued at $372,099,000 after acquiring an additional 838,460 shares during the period. Principal Financial Group Inc. raised its holdings in Modine Manufacturing by 2.4% during the 3rd quarter. Principal Financial Group Inc. now owns 1,152,735 shares of the auto parts company’s stock worth $153,072,000 after purchasing an additional 26,527 shares during the last quarter. Driehaus Capital Management LLC lifted its position in Modine Manufacturing by 32.8% during the 2nd quarter. Driehaus Capital Management LLC now owns 1,101,932 shares of the auto parts company’s stock valued at $110,403,000 after purchasing an additional 272,174 shares during the period. Fred Alger Management LLC boosted its stake in shares of Modine Manufacturing by 5.1% in the 2nd quarter. Fred Alger Management LLC now owns 369,840 shares of the auto parts company’s stock valued at $37,054,000 after purchasing an additional 17,889 shares during the last quarter. Finally, Emerald Advisers LLC grew its position in shares of Modine Manufacturing by 1.6% during the 3rd quarter. Emerald Advisers LLC now owns 264,349 shares of the auto parts company’s stock worth $35,103,000 after buying an additional 4,199 shares during the period. Institutional investors and hedge funds own 95.23% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on MOD. Oppenheimer increased their price objective on shares of Modine Manufacturing from $144.00 to $145.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. B. Riley increased their target price on Modine Manufacturing from $125.00 to $140.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. William Blair began coverage on Modine Manufacturing in a report on Monday, July 29th. They set an “outperform” rating on the stock. Finally, DA Davidson upped their price target on Modine Manufacturing from $140.00 to $155.00 and gave the company a “buy” rating in a research note on Tuesday, September 24th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $146.67.

Modine Manufacturing Stock Up 1.9 %

NYSE:MOD opened at $143.22 on Friday. Modine Manufacturing has a 1 year low of $48.88 and a 1 year high of $144.02. The stock has a 50-day moving average price of $128.14 and a two-hundred day moving average price of $112.35. The stock has a market cap of $7.52 billion, a price-to-earnings ratio of 46.96, a PEG ratio of 1.08 and a beta of 2.25. The company has a current ratio of 1.77, a quick ratio of 1.09 and a debt-to-equity ratio of 0.41.

Modine Manufacturing (NYSE:MOD) last posted its earnings results on Tuesday, October 29th. The auto parts company reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.05. Modine Manufacturing had a return on equity of 23.96% and a net margin of 6.59%. The business had revenue of $658.00 million during the quarter, compared to analysts’ expectations of $646.86 million. During the same period in the prior year, the business earned $0.89 EPS. Modine Manufacturing’s revenue for the quarter was up 6.0% compared to the same quarter last year. As a group, equities analysts expect that Modine Manufacturing will post 3.83 earnings per share for the current year.

Modine Manufacturing Profile

Modine Manufacturing Company provides thermal management products and solutions in the United States, Italy, Hungary, China, the United Kingdom, and internationally. It operates through Climate Solutions and Performance Technologies segments. The company offers heat transfer coils, including heat recovery and round tube plate fin coils; gas-fired, hydronic, electric and oilfired unit heaters; roof-mounted direct- and indirect-fired makeup air units; duct furnaces; infrared units; perimeter heating products; single packaged unit ventilators; modular chillers; air handler and condensing units; ceiling cassettes; evaporator unit coolers, remote condensers, fluid coolers, gas coolers, and dry and brine coolers; and motor and generator cooling coils, transformer oil coolers, radiators, dryers, and industrial heat exchangers.