Modine Manufacturing Company $MOD Shares Sold by Polen Capital Management LLC

Polen Capital Management LLC cut its position in shares of Modine Manufacturing Company (NYSE:MOD) by 56.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,309 shares of the auto parts company’s stock after selling 18,214 shares during the quarter. Polen Capital Management LLC’s holdings in Modine Manufacturing were worth $1,910,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Capital Research Global Investors purchased a new stake in shares of Modine Manufacturing during the 3rd quarter worth about $184,610,000. WT Asset Management Ltd purchased a new stake in Modine Manufacturing during the fourth quarter worth approximately $69,255,000. Norges Bank purchased a new stake in Modine Manufacturing during the fourth quarter worth approximately $58,309,000. Van Berkom & Associates Inc. increased its position in shares of Modine Manufacturing by 3,145.2% in the fourth quarter. Van Berkom & Associates Inc. now owns 436,084 shares of the auto parts company’s stock worth $58,222,000 after acquiring an additional 422,646 shares in the last quarter. Finally, Invesco Ltd. raised its stake in shares of Modine Manufacturing by 133.2% in the 3rd quarter. Invesco Ltd. now owns 598,140 shares of the auto parts company’s stock valued at $85,032,000 after acquiring an additional 341,595 shares during the period. 95.23% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. KeyCorp upped their price target on shares of Modine Manufacturing from $250.00 to $370.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 27th. DA Davidson increased their target price on Modine Manufacturing from $265.00 to $330.00 and gave the company a “buy” rating in a research note on Friday, May 29th. Oppenheimer boosted their price target on Modine Manufacturing from $271.00 to $325.00 and gave the stock an “outperform” rating in a research report on Thursday, May 28th. Weiss Ratings upgraded Modine Manufacturing from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, May 28th. Finally, Roth Mkm began coverage on shares of Modine Manufacturing in a research note on Wednesday, February 18th. They set a “buy” rating and a $263.00 price objective on the stock. Seven analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $327.14.

Modine Manufacturing Trading Up 5.6%

NYSE:MOD opened at $272.51 on Friday. Modine Manufacturing Company has a one year low of $86.48 and a one year high of $323.25. The business’s 50-day simple moving average is $259.22 and its 200 day simple moving average is $204.66. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.25 and a current ratio of 1.94. The stock has a market cap of $14.39 billion, a price-to-earnings ratio of 121.65, a price-to-earnings-growth ratio of 0.83 and a beta of 1.65.

Modine Manufacturing (NYSE:MOD) last announced its earnings results on Tuesday, May 26th. The auto parts company reported $1.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.51 by $0.20. Modine Manufacturing had a return on equity of 24.39% and a net margin of 3.82%.The company had revenue of $954.40 million for the quarter, compared to analyst estimates of $920.67 million. During the same period in the prior year, the company posted $1.12 EPS. Modine Manufacturing’s quarterly revenue was up 47.5% on a year-over-year basis. As a group, sell-side analysts predict that Modine Manufacturing Company will post 7.73 earnings per share for the current fiscal year.

Modine Manufacturing Company Profile

Modine Manufacturing Company (NYSE:MOD) is a global provider of thermal management solutions serving automotive, commercial transportation, heavy-duty off-highway, industrial, HVAC and refrigeration markets. The company designs, manufactures, tests and markets a broad array of heat-transfer products that manage temperature and energy efficiency for engines, power electronics and building climate control systems.

Its product portfolio includes heat exchangers, condensers, radiators, evaporators, charge air coolers, fan systems and associated controls.