Modine Manufacturing (NYSE:MOD) Shares Sold by Horizon Investment Services LLC

Horizon Investment Services LLC reduced its stake in shares of Modine Manufacturing (NYSE:MOD) by 25.2% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,411 shares of the auto parts company’s stock after selling 1,147 shares during the quarter. Horizon Investment Services LLC’s holdings in Modine Manufacturing were worth $342,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MOD. Strid Group LLC acquired a new position in shares of Modine Manufacturing during the first quarter worth $33,000. Acadian Asset Management LLC acquired a new position in shares of Modine Manufacturing in the first quarter worth about $37,000. Principal Securities Inc. purchased a new position in Modine Manufacturing in the fourth quarter valued at about $29,000. Opal Wealth Advisors LLC purchased a new position in Modine Manufacturing in the second quarter valued at about $51,000. Finally, West Oak Capital LLC grew its stake in Modine Manufacturing by 300.0% during 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. 95.23% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MOD has been the topic of a number of recent analyst reports. B. Riley upped their target price on Modine Manufacturing from $125.00 to $140.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. DA Davidson increased their price objective on shares of Modine Manufacturing from $120.00 to $140.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Oppenheimer boosted their target price on shares of Modine Manufacturing from $114.00 to $135.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. Finally, William Blair began coverage on shares of Modine Manufacturing in a research note on Monday, July 29th. They issued an “outperform” rating on the stock. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $138.33.

Modine Manufacturing Stock Performance

MOD stock opened at $103.94 on Friday. The firm has a market cap of $5.45 billion, a P/E ratio of 34.30, a P/E/G ratio of 0.93 and a beta of 2.27. The stock’s 50 day simple moving average is $107.85 and its 200 day simple moving average is $98.73. The company has a current ratio of 1.80, a quick ratio of 1.11 and a debt-to-equity ratio of 0.51. Modine Manufacturing has a 12-month low of $38.50 and a 12-month high of $123.92.

Modine Manufacturing (NYSE:MOD) last posted its quarterly earnings results on Tuesday, July 30th. The auto parts company reported $1.04 earnings per share (EPS) 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 the consensus estimate of $633.55 million. During the same period last year, the firm posted $0.85 EPS. The company’s revenue for the quarter was up 6.3% on a year-over-year basis. As a group, equities research analysts predict that Modine Manufacturing will post 3.85 EPS for the current year.

Insider Buying and Selling at Modine Manufacturing

In other news, Director Marsha C. Williams sold 34,400 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $109.74, for a total transaction of $3,775,056.00. Following the completion of the transaction, the director now directly owns 144,038 shares of the company’s stock, valued at $15,806,730.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.40% of the stock is currently owned by insiders.

About Modine Manufacturing

Modine Manufacturing Company provides engineered heat transfer systems and heat transfer components for use in on- and off-highway original equipment manufacturer (OEM) vehicular applications. It operates through Climate Solutions and Performance Technologies segments. The company offers gas-fired, hydronic, electric, and oil-fired unit heaters; indoor and outdoor duct furnaces; infrared units; perimeter heating products, such as commercial fin-tube radiation, cabinet unit heaters, and convectors; roof-mounted direct- and indirect-fired makeup air units; unit ventilators; single packaged vertical units; precision air conditioning units for data center applications; air handler units; fan walls; chillers; ceiling cassettes; hybrid fan coils; and condensers and condensing units.