Navellier & Associates Inc. Sells 16,145 Shares of Modine Manufacturing (NYSE:MOD)

Navellier & Associates Inc. reduced its stake in shares of Modine Manufacturing (NYSE:MOD) by 70.3% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 6,818 shares of the auto parts company’s stock after selling 16,145 shares during the period. Navellier & Associates Inc.’s holdings in Modine Manufacturing were worth $905,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Acadian Asset Management LLC bought a new stake in Modine Manufacturing during the 1st quarter valued at $37,000. Opal Wealth Advisors LLC bought a new position in Modine Manufacturing in the 2nd quarter worth about $51,000. West Oak Capital LLC grew its holdings 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 buying an additional 450 shares in the last quarter. Fifth Third Bancorp bought a new stake in shares of Modine Manufacturing during the second quarter valued at about $64,000. Finally, DekaBank Deutsche Girozentrale purchased a new stake in shares of Modine Manufacturing in the second quarter worth about $68,000. Hedge funds and other institutional investors own 95.23% of the company’s stock.

Modine Manufacturing Trading Up 5.4 %

Shares of MOD stock opened at $140.85 on Friday. The business has a 50-day moving average price of $127.50 and a two-hundred day moving average price of $112.00. Modine Manufacturing has a 12-month low of $48.88 and a 12-month high of $142.12. The company has a quick ratio of 1.09, a current ratio of 1.77 and a debt-to-equity ratio of 0.41. The firm has a market cap of $7.39 billion, a P/E ratio of 46.18, a price-to-earnings-growth ratio of 1.04 and a beta of 2.25.

Modine Manufacturing (NYSE:MOD) last issued its earnings results on Tuesday, October 29th. The auto parts company reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.05. The company had revenue of $658.00 million for the quarter, compared to analysts’ expectations of $646.86 million. Modine Manufacturing had a net margin of 6.59% and a return on equity of 23.96%. The firm’s revenue was up 6.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.89 EPS. Equities analysts anticipate that Modine Manufacturing will post 3.83 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on MOD. 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 research report on Thursday, October 31st. DA Davidson lifted their price target on Modine Manufacturing from $140.00 to $155.00 and gave the company a “buy” rating in a research report on Tuesday, September 24th. William Blair started coverage on Modine Manufacturing in a report on Monday, July 29th. They set an “outperform” rating for the company. Finally, B. Riley raised their target price on shares of Modine Manufacturing from $125.00 to $140.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Modine Manufacturing currently has an average rating of “Moderate Buy” and a consensus target price of $146.67.

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.