Modine Manufacturing (NYSE:MOD) Holdings Cut by Harbor Capital Advisors Inc.

Harbor Capital Advisors Inc. decreased its stake in Modine Manufacturing (NYSE:MOD) by 18.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 57,271 shares of the auto parts company’s stock after selling 12,568 shares during the quarter. Harbor Capital Advisors Inc. owned approximately 0.11% of Modine Manufacturing worth $6,639,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Wasatch Advisors LP bought a new position in Modine Manufacturing in the 3rd quarter worth $91,193,000. FMR LLC raised its holdings in Modine Manufacturing by 14.0% in the 3rd quarter. FMR LLC now owns 4,417,927 shares of the auto parts company’s stock worth $586,657,000 after acquiring an additional 543,419 shares during the period. Driehaus Capital Management LLC raised its holdings in Modine Manufacturing by 32.8% in the 2nd quarter. Driehaus Capital Management LLC now owns 1,101,932 shares of the auto parts company’s stock worth $110,403,000 after acquiring an additional 272,174 shares during the period. Public Employees Retirement Association of Colorado raised its holdings in Modine Manufacturing by 4,215.8% in the 2nd quarter. Public Employees Retirement Association of Colorado now owns 260,547 shares of the auto parts company’s stock worth $26,104,000 after acquiring an additional 254,510 shares during the period. Finally, Summit Partners Public Asset Management LLC bought a new position in Modine Manufacturing in the 3rd quarter worth $31,961,000. Hedge funds and other institutional investors own 95.23% of the company’s stock.

Modine Manufacturing Price Performance

Shares of NYSE MOD traded down $2.69 during trading on Friday, reaching $118.41. The company had a trading volume of 267,752 shares, compared to its average volume of 612,940. Modine Manufacturing has a 52 week low of $60.00 and a 52 week high of $146.84. The stock has a market cap of $6.22 billion, a PE ratio of 38.82, a PEG ratio of 1.01 and a beta of 2.34. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.09 and a current ratio of 1.77. The business’s 50 day moving average price is $126.68 and its 200-day moving average price is $118.88.

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

Analyst Ratings Changes

Several brokerages recently commented on MOD. Oppenheimer lifted their target price on shares of Modine Manufacturing from $144.00 to $145.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. DA Davidson raised their price target on shares of Modine Manufacturing from $140.00 to $155.00 and gave the stock a “buy” rating in a research report on Tuesday, September 24th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Modine Manufacturing presently has an average rating of “Moderate Buy” and a consensus target price of $146.67.

About Modine Manufacturing

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.