Modine Manufacturing (NYSE:MOD) Stake Cut by Jennison Associates LLC

Jennison Associates LLC cut its position in shares of Modine Manufacturing (NYSE:MOD) by 3.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,039 shares of the auto parts company’s stock after selling 234 shares during the quarter. Jennison Associates LLC’s holdings in Modine Manufacturing were worth $700,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC lifted its stake in Modine Manufacturing by 90.9% during the third quarter. Farther Finance Advisors LLC now owns 1,031 shares of the auto parts company’s stock worth $137,000 after purchasing an additional 491 shares during the last quarter. Legend Financial Advisors Inc. boosted its holdings in shares of Modine Manufacturing by 2.9% during the fourth quarter. Legend Financial Advisors Inc. now owns 9,929 shares of the auto parts company’s stock valued at $1,151,000 after acquiring an additional 279 shares during the period. Harbor Capital Advisors Inc. boosted its holdings in shares of Modine Manufacturing by 58.0% during the third quarter. Harbor Capital Advisors Inc. now owns 69,839 shares of the auto parts company’s stock valued at $9,274,000 after acquiring an additional 25,648 shares during the period. Campbell Newman Asset Management Inc. boosted its holdings in shares of Modine Manufacturing by 38.9% during the fourth quarter. Campbell Newman Asset Management Inc. now owns 24,249 shares of the auto parts company’s stock valued at $2,811,000 after acquiring an additional 6,786 shares during the period. Finally, Victory Capital Management Inc. boosted its holdings in shares of Modine Manufacturing by 20.1% during the third quarter. Victory Capital Management Inc. now owns 157,200 shares of the auto parts company’s stock valued at $20,875,000 after acquiring an additional 26,348 shares during the period. 95.23% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Oppenheimer boosted their price target on shares of Modine Manufacturing from $144.00 to $145.00 and gave the company an “outperform” rating in a report on Thursday, October 31st.

Modine Manufacturing Stock Performance

Shares of MOD opened at $98.65 on Friday. The company has a market cap of $5.18 billion, a price-to-earnings ratio of 32.34, a price-to-earnings-growth ratio of 0.78 and a beta of 2.31. The firm has a fifty day moving average of $122.17 and a 200-day moving average of $120.53. Modine Manufacturing has a 1 year low of $69.00 and a 1 year high of $146.84. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.09 and a current ratio of 1.77.

Modine Manufacturing (NYSE:MOD) last posted its quarterly earnings data on Tuesday, February 4th. The auto parts company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.13. Modine Manufacturing had a net margin of 6.59% and a return on equity of 23.96%. As a group, equities analysts anticipate that Modine Manufacturing will post 3.83 earnings per share for the current year.

Modine Manufacturing Company Profile

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.