Legato Capital Management LLC Trims Holdings in Modine Manufacturing Company $MOD

Legato Capital Management LLC trimmed its holdings in shares of Modine Manufacturing Company (NYSE:MOD) by 36.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 19,899 shares of the auto parts company’s stock after selling 11,274 shares during the quarter. Legato Capital Management LLC’s holdings in Modine Manufacturing were worth $2,657,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in MOD. Spire Wealth Management bought a new position in shares of Modine Manufacturing in the fourth quarter worth about $27,000. Sunbelt Securities Inc. bought a new stake in Modine Manufacturing during the 3rd quarter valued at about $39,000. Danske Bank A S purchased a new stake in Modine Manufacturing in the 3rd quarter valued at about $43,000. AdvisorShares Investments LLC grew its stake in Modine Manufacturing by 154.0% in the 3rd quarter. AdvisorShares Investments LLC now owns 475 shares of the auto parts company’s stock worth $68,000 after acquiring an additional 288 shares in the last quarter. Finally, Parkside Financial Bank & Trust grew its stake in Modine Manufacturing by 17.6% in the 3rd quarter. Parkside Financial Bank & Trust now owns 500 shares of the auto parts company’s stock worth $71,000 after acquiring an additional 75 shares in the last quarter. 95.23% of the stock is owned by hedge funds and other institutional investors.

Modine Manufacturing Trading Up 4.6%

NYSE:MOD opened at $261.71 on Friday. The firm has a 50-day simple moving average of $238.14 and a 200-day simple moving average of $190.70. Modine Manufacturing Company has a one year low of $86.48 and a one year high of $294.05. The firm has a market cap of $13.80 billion, a P/E ratio of 145.39, a P/E/G ratio of 1.02 and a beta of 1.66. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.28 and a current ratio of 2.19.

Analyst Ratings Changes

MOD has been the subject of several research analyst reports. Oppenheimer lifted their price target on shares of Modine Manufacturing from $220.00 to $240.00 and gave the company an “outperform” rating in a research note on Friday, February 6th. Glj Research started coverage on Modine Manufacturing in a research note on Monday, March 30th. They issued a “buy” rating and a $290.00 price objective on the stock. DA Davidson restated a “buy” rating and set a $265.00 price objective on shares of Modine Manufacturing in a report on Tuesday, March 31st. Roth Mkm began coverage on Modine Manufacturing in a research report on Wednesday, February 18th. They set a “buy” rating and a $263.00 target price for the company. Finally, Wall Street Zen cut Modine Manufacturing from a “buy” rating to a “hold” rating in a report on Sunday, February 22nd. Six research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, Modine Manufacturing presently has an average rating of “Moderate Buy” and an average target price of $234.33.

Modine Manufacturing Company 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.