Reinhart Partners LLC. Reduces Position in Modine Manufacturing (NYSE:MOD)

Reinhart Partners LLC. cut its stake in shares of Modine Manufacturing (NYSE:MOD) by 0.3% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 304,808 shares of the auto parts company’s stock after selling 864 shares during the quarter. Modine Manufacturing accounts for about 1.4% of Reinhart Partners LLC.’s investment portfolio, making the stock its 28th biggest holding. Reinhart Partners LLC.’s holdings in Modine Manufacturing were worth $35,336,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in MOD. Wasatch Advisors LP purchased a new stake in shares of Modine Manufacturing during the third quarter valued at $91,193,000. FMR LLC grew its holdings in shares of Modine Manufacturing by 14.0% during the third quarter. FMR LLC now owns 4,417,927 shares of the auto parts company’s stock valued at $586,657,000 after buying an additional 543,419 shares during the last quarter. Driehaus Capital Management LLC boosted its holdings in Modine Manufacturing by 32.8% in the second quarter. Driehaus Capital Management LLC now owns 1,101,932 shares of the auto parts company’s stock valued at $110,403,000 after purchasing an additional 272,174 shares during the last quarter. Public Employees Retirement Association of Colorado boosted its holdings in Modine Manufacturing by 4,215.8% in the second quarter. Public Employees Retirement Association of Colorado now owns 260,547 shares of the auto parts company’s stock valued at $26,104,000 after purchasing an additional 254,510 shares during the last quarter. Finally, Summit Partners Public Asset Management LLC purchased a new stake in Modine Manufacturing in the third quarter valued at $31,961,000. 95.23% of the stock is owned by hedge funds and other institutional investors.

Modine Manufacturing Price Performance

Shares of Modine Manufacturing stock traded down $1.87 during trading hours on Monday, reaching $116.96. The stock had a trading volume of 422,398 shares, compared to its average volume of 636,476. The stock’s 50 day moving average is $126.83 and its 200 day moving average is $119.36. The firm has a market capitalization of $6.14 billion, a PE ratio of 38.35, a PEG ratio of 1.01 and a beta of 2.34. Modine Manufacturing has a twelve month low of $60.00 and a twelve month high of $146.84. The company has a current ratio of 1.77, a quick ratio of 1.09 and a debt-to-equity ratio of 0.41.

Modine Manufacturing (NYSE:MOD) last issued its quarterly earnings data 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 business had revenue of $658.00 million during the quarter, compared to the consensus estimate of $646.86 million. Modine Manufacturing had a net margin of 6.59% and a return on equity of 23.96%. The company’s revenue was up 6.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.89 earnings per share. Equities analysts expect that Modine Manufacturing will post 3.83 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

MOD has been the topic of several recent research reports. DA Davidson upped their price target on shares of Modine Manufacturing from $140.00 to $155.00 and gave the company a “buy” rating in a report on Tuesday, September 24th. Oppenheimer upped 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. 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.com, Modine Manufacturing presently has a consensus rating of “Moderate Buy” and an average 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.