Modine Manufacturing Company $MOD Shares Sold by Legal & General Group Plc

Legal & General Group Plc lessened its stake in Modine Manufacturing Company (NYSE:MOD) by 8.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 53,910 shares of the auto parts company’s stock after selling 4,691 shares during the quarter. Legal & General Group Plc owned about 0.10% of Modine Manufacturing worth $7,198,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in MOD. Capital Research Global Investors acquired a new stake in shares of Modine Manufacturing in the third quarter valued at approximately $184,610,000. WT Asset Management Ltd acquired a new stake in shares of Modine Manufacturing in the fourth quarter valued at approximately $69,255,000. Van Berkom & Associates Inc. increased its holdings in shares of Modine Manufacturing by 3,145.2% in the fourth quarter. Van Berkom & Associates Inc. now owns 436,084 shares of the auto parts company’s stock valued at $58,222,000 after purchasing an additional 422,646 shares during the last quarter. Invesco Ltd. increased its stake in Modine Manufacturing by 133.2% during the third quarter. Invesco Ltd. now owns 598,140 shares of the auto parts company’s stock worth $85,032,000 after acquiring an additional 341,595 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. acquired a new stake in Modine Manufacturing during the second quarter worth $28,322,000. Institutional investors and hedge funds own 95.23% of the company’s stock.

Analyst Ratings Changes

MOD has been the subject of several recent analyst reports. Wall Street Zen raised Modine Manufacturing from a “hold” rating to a “buy” rating in a research note on Saturday, May 30th. B. Riley Financial raised their target price on Modine Manufacturing from $250.00 to $264.00 and gave the stock a “buy” rating in a research note on Tuesday, May 26th. Zacks Research cut Modine Manufacturing from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 13th. Glj Research reissued a “buy” rating and set a $428.00 target price on shares of Modine Manufacturing in a research note on Monday, June 1st. Finally, KeyCorp raised their target price on Modine Manufacturing from $250.00 to $370.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 27th. Seven analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $327.14.

Modine Manufacturing Stock Performance

Shares of MOD stock opened at $275.95 on Friday. The company has a quick ratio of 1.25, a current ratio of 1.94 and a debt-to-equity ratio of 0.32. Modine Manufacturing Company has a 52 week low of $86.48 and a 52 week high of $323.25. The stock has a market capitalization of $14.58 billion, a PE ratio of 123.19, a P/E/G ratio of 0.89 and a beta of 1.65. The firm has a 50 day moving average of $254.49 and a two-hundred day moving average of $200.42.

Modine Manufacturing (NYSE:MOD) last issued its quarterly earnings results on Tuesday, May 26th. The auto parts company reported $1.71 EPS for the quarter, beating the consensus estimate of $1.51 by $0.20. The company had revenue of $954.40 million during the quarter, compared to analysts’ expectations of $920.67 million. Modine Manufacturing had a net margin of 3.82% and a return on equity of 24.39%. The firm’s revenue was up 47.5% compared to the same quarter last year. During the same quarter last year, the company posted $1.12 EPS. On average, research analysts predict that Modine Manufacturing Company will post 7.73 EPS for the current fiscal year.

Modine Manufacturing 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.