Royce & Associates LP Has $27.92 Million Stake in Modine Manufacturing (NYSE:MOD)

Royce & Associates LP decreased its stake in Modine Manufacturing (NYSE:MOD) by 24.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 210,247 shares of the auto parts company’s stock after selling 66,340 shares during the quarter. Royce & Associates LP owned approximately 0.40% of Modine Manufacturing worth $27,919,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Acadian Asset Management LLC acquired a new stake in Modine Manufacturing in the 1st quarter valued at $37,000. Opal Wealth Advisors LLC acquired a new position in Modine Manufacturing in the second quarter worth $51,000. West Oak Capital LLC boosted its stake in Modine Manufacturing by 300.0% in the second quarter. West Oak Capital LLC now owns 600 shares of the auto parts company’s stock worth $60,000 after purchasing an additional 450 shares in the last quarter. Fifth Third Bancorp acquired a new position in Modine Manufacturing in the second quarter worth $64,000. Finally, DekaBank Deutsche Girozentrale acquired a new position in Modine Manufacturing in the second quarter worth $68,000. Institutional investors and hedge funds own 95.23% of the company’s stock.

Analyst Ratings Changes

MOD has been the topic of a number of recent analyst reports. Oppenheimer boosted their price objective on Modine Manufacturing from $144.00 to $145.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. B. Riley boosted their price objective on Modine Manufacturing from $125.00 to $140.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. DA Davidson boosted their price objective on Modine Manufacturing from $140.00 to $155.00 and gave the stock a “buy” rating in a research note on Tuesday, September 24th. Finally, William Blair initiated coverage on Modine Manufacturing in a research note on Monday, July 29th. They issued an “outperform” rating on the stock. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Modine Manufacturing has a consensus rating of “Moderate Buy” and an average price target of $146.67.

Modine Manufacturing Trading Up 2.5 %

MOD stock opened at $123.17 on Friday. The company has a market cap of $6.47 billion, a P/E ratio of 40.38, a PEG ratio of 0.98 and a beta of 2.25. Modine Manufacturing has a twelve month low of $48.10 and a twelve month high of $141.72. 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 business has a fifty day moving average of $124.49 and a 200-day moving average of $110.67.

Modine Manufacturing (NYSE:MOD) last released its earnings results on Tuesday, October 29th. The auto parts company reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.05. The company had revenue of $658.00 million during the quarter, compared to the consensus estimate of $646.86 million. Modine Manufacturing had a return on equity of 23.96% and a net margin of 6.59%. The firm’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.89 earnings per share. As a group, equities research analysts expect that Modine Manufacturing will post 3.83 EPS for the current year.

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.