Easterly Investment Partners LLC Has $1.57 Million Stock Holdings in Modine Manufacturing (NYSE:MOD)

Easterly Investment Partners LLC lowered its holdings in Modine Manufacturing (NYSE:MOD) by 11.3% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 15,660 shares of the auto parts company’s stock after selling 2,000 shares during the quarter. Easterly Investment Partners LLC’s holdings in Modine Manufacturing were worth $1,569,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the business. Strid Group LLC bought a new stake in shares of Modine Manufacturing in the first quarter valued at approximately $33,000. Acadian Asset Management LLC bought a new stake in Modine Manufacturing in the 1st quarter valued at $37,000. Principal Securities Inc. acquired a new stake in Modine Manufacturing in the 4th quarter worth $29,000. Opal Wealth Advisors LLC acquired a new stake in Modine Manufacturing in the 2nd quarter worth $51,000. Finally, West Oak Capital LLC increased its holdings in shares of Modine Manufacturing by 300.0% during the 2nd 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 during the period. 95.23% of the stock is currently owned by institutional investors and hedge funds.

Modine Manufacturing Price Performance

NYSE:MOD traded down $3.66 during mid-day trading on Monday, hitting $115.76. The company’s stock had a trading volume of 143,581 shares, compared to its average volume of 915,618. The company has a market capitalization of $6.07 billion, a price-to-earnings ratio of 39.41, a P/E/G ratio of 0.86 and a beta of 2.27. The company has a current ratio of 1.80, a quick ratio of 0.98 and a debt-to-equity ratio of 0.51. Modine Manufacturing has a fifty-two week low of $38.50 and a fifty-two week high of $123.92. The stock has a fifty day moving average of $104.60 and a 200-day moving average of $96.64.

Modine Manufacturing (NYSE:MOD) last issued its 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. The business had revenue of $661.50 million during the quarter, compared to analysts’ expectations of $633.55 million. Modine Manufacturing had a return on equity of 24.92% and a net margin of 6.70%. Modine Manufacturing’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.85 EPS. As a group, equities analysts forecast that Modine Manufacturing will post 3.81 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on MOD shares. William Blair initiated coverage on shares of Modine Manufacturing in a research note on Monday, July 29th. They issued an “outperform” rating for the company. Oppenheimer raised their price objective on Modine Manufacturing from $114.00 to $135.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. DA Davidson upped their target price on Modine Manufacturing from $120.00 to $140.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Finally, B. Riley raised their target price on Modine Manufacturing from $125.00 to $140.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $138.33.

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 dated Thursday, August 15th. The shares were sold at an average price of $109.74, for a total value of $3,775,056.00. Following the sale, the director now owns 144,038 shares of the company’s stock, valued at approximately $15,806,730.12. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 2.40% of the company’s stock.

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.