Reinhart Partners LLC. Sells 228,508 Shares of Modine Manufacturing Company $MOD

Reinhart Partners LLC. decreased its stake in Modine Manufacturing Company (NYSE:MOD) by 25.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 662,194 shares of the auto parts company’s stock after selling 228,508 shares during the period. Modine Manufacturing comprises about 2.6% of Reinhart Partners LLC.’s holdings, making the stock its 19th largest holding. Reinhart Partners LLC.’s holdings in Modine Manufacturing were worth $88,411,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also added to or reduced their stakes in MOD. Root Financial Partners LLC raised its stake in shares of Modine Manufacturing by 140.5% during the fourth quarter. Root Financial Partners LLC now owns 368 shares of the auto parts company’s stock valued at $49,000 after acquiring an additional 215 shares during the last quarter. Arcadia Investment Management Corp MI raised its stake in shares of Modine Manufacturing by 394.3% during the fourth quarter. Arcadia Investment Management Corp MI now owns 8,353 shares of the auto parts company’s stock valued at $1,115,000 after acquiring an additional 6,663 shares during the last quarter. BNP Paribas Financial Markets raised its stake in shares of Modine Manufacturing by 2,964.8% during the fourth quarter. BNP Paribas Financial Markets now owns 332,072 shares of the auto parts company’s stock valued at $44,335,000 after acquiring an additional 321,237 shares during the last quarter. AdvisorShares Investments LLC raised its stake in shares of Modine Manufacturing by 40.4% during the fourth quarter. AdvisorShares Investments LLC now owns 667 shares of the auto parts company’s stock valued at $89,000 after acquiring an additional 192 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Modine Manufacturing during the fourth quarter worth $58,309,000. Institutional investors own 95.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on MOD. Glj Research reiterated a “buy” rating and set a $428.00 price objective on shares of Modine Manufacturing in a research report on Monday. Weiss Ratings upgraded shares of Modine Manufacturing from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, May 28th. Wall Street Zen upgraded shares of Modine Manufacturing from a “hold” rating to a “buy” rating in a research report on Saturday. Zacks Research cut shares of Modine Manufacturing from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 13th. Finally, Roth Mkm began coverage on shares of Modine Manufacturing in a research report on Wednesday, February 18th. They set a “buy” rating and a $263.00 price objective for the company. Seven investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, Modine Manufacturing currently has a consensus rating of “Moderate Buy” and an average price target of $327.14.

Modine Manufacturing Stock Up 6.1%

Modine Manufacturing stock opened at $306.24 on Wednesday. Modine Manufacturing Company has a 1-year low of $86.48 and a 1-year high of $323.25. The firm has a market capitalization of $16.17 billion, a price-to-earnings ratio of 136.71, a price-to-earnings-growth ratio of 0.93 and a beta of 1.65. The firm’s fifty day moving average price is $248.22 and its two-hundred day moving average price is $196.36. The company has a current ratio of 1.94, a quick ratio of 1.25 and a debt-to-equity ratio of 0.32.

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

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.