Modine Manufacturing (NYSE:MOD) Shares Sold by Front Street Capital Management Inc.

Front Street Capital Management Inc. decreased its holdings in Modine Manufacturing (NYSE:MOD) by 0.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 77,904 shares of the auto parts company’s stock after selling 665 shares during the period. Modine Manufacturing makes up approximately 1.5% of Front Street Capital Management Inc.’s investment portfolio, making the stock its 19th largest position. Front Street Capital Management Inc.’s holdings in Modine Manufacturing were worth $7,805,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Principal Securities Inc. purchased a new position in shares of Modine Manufacturing during the 4th quarter worth approximately $29,000. Acadian Asset Management LLC acquired a new stake in shares of Modine Manufacturing in the 1st quarter valued at $37,000. Opal Wealth Advisors LLC acquired a new stake in shares of Modine Manufacturing in the 2nd quarter valued at $51,000. West Oak Capital LLC raised its holdings in shares of Modine Manufacturing by 300.0% in the 2nd quarter. West Oak Capital LLC now owns 600 shares of the auto parts company’s stock valued at $60,000 after purchasing an additional 450 shares in the last quarter. Finally, Fifth Third Bancorp purchased a new stake in shares of Modine Manufacturing in the 2nd quarter valued at about $64,000. Institutional investors and hedge funds own 95.23% of the company’s stock.

Wall Street Analysts Forecast Growth

MOD has been the subject of several research reports. B. Riley boosted their target price on Modine Manufacturing from $125.00 to $140.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Oppenheimer reissued an “outperform” rating and set a $135.00 price target on shares of Modine Manufacturing in a research note on Thursday, September 12th. DA Davidson increased their price target on shares of Modine Manufacturing from $120.00 to $140.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Finally, William Blair assumed coverage on Modine Manufacturing in a research report on Monday, July 29th. They set an “outperform” rating for the company. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $138.33.

Modine Manufacturing Stock Down 0.9 %

Shares of NYSE:MOD opened at $127.14 on Tuesday. The company has a quick ratio of 1.11, a current ratio of 1.80 and a debt-to-equity ratio of 0.51. Modine Manufacturing has a 52-week low of $38.50 and a 52-week high of $131.28. The company has a 50 day moving average of $109.28 and a two-hundred day moving average of $101.15. The company has a market capitalization of $6.66 billion, a price-to-earnings ratio of 41.96, a price-to-earnings-growth ratio of 0.83 and a beta of 2.22.

Modine Manufacturing (NYSE:MOD) last issued its earnings results on Tuesday, July 30th. The auto parts company reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.86 by $0.18. Modine Manufacturing had a net margin of 6.70% and a return on equity of 24.92%. The company had revenue of $661.50 million for the quarter, compared to analysts’ expectations of $633.55 million. During the same period in the prior year, the company earned $0.85 earnings per share. The firm’s revenue was up 6.3% compared to the same quarter last year. As a group, analysts forecast that Modine Manufacturing will post 3.85 earnings per share for the current fiscal year.

Insider Activity at Modine Manufacturing

In other Modine Manufacturing news, Director Marsha C. Williams sold 34,400 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $109.74, for a total transaction of $3,775,056.00. Following the transaction, the director now owns 144,038 shares of the company’s stock, valued at approximately $15,806,730.12. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 2.40% of the stock is currently owned by insiders.

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.