Reinhart Partners LLC. Has $148.38 Million Holdings in Modine Manufacturing Company $MOD

Reinhart Partners LLC. reduced its position in shares of Modine Manufacturing Company (NYSE:MOD) by 7.6% during the second quarter, Holdings Channel.com reports. The fund owned 555,686 shares of the auto parts company’s stock after selling 45,514 shares during the quarter. Modine Manufacturing accounts for approximately 3.4% of Reinhart Partners LLC.’s investment portfolio, making the stock its 8th largest position. Reinhart Partners LLC.’s holdings in Modine Manufacturing were worth $148,383,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Optiver Holding B.V. boosted its holdings in Modine Manufacturing by 19.7% in the 1st quarter. Optiver Holding B.V. now owns 237 shares of the auto parts company’s stock valued at $51,000 after purchasing an additional 39 shares during the period. World Investment Advisors increased its holdings in shares of Modine Manufacturing by 4.1% during the 1st quarter. World Investment Advisors now owns 1,643 shares of the auto parts company’s stock worth $356,000 after purchasing an additional 65 shares during the period. Xponance LLC increased its holdings in shares of Modine Manufacturing by 1.7% during the 4th quarter. Xponance LLC now owns 4,424 shares of the auto parts company’s stock worth $591,000 after purchasing an additional 75 shares during the period. State of Alaska Department of Revenue raised its position in shares of Modine Manufacturing by 3.4% during the fourth quarter. State of Alaska Department of Revenue now owns 3,156 shares of the auto parts company’s stock valued at $421,000 after buying an additional 103 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its position in shares of Modine Manufacturing by 6.1% during the first quarter. PNC Financial Services Group Inc. now owns 1,780 shares of the auto parts company’s stock valued at $386,000 after buying an additional 103 shares during the last quarter. 95.23% of the stock is currently owned by institutional investors.

Modine Manufacturing Trading Up 2.0%

Shares of Modine Manufacturing stock opened at $196.31 on Friday. Modine Manufacturing Company has a 12-month low of $111.18 and a 12-month high of $323.25. The stock has a market capitalization of $10.43 billion, a P/E ratio of 73.80, a price-to-earnings-growth ratio of 0.63 and a beta of 1.71. The company has a 50-day simple moving average of $248.96 and a 200 day simple moving average of $232.59. The company has a quick ratio of 1.22, a current ratio of 2.04 and a debt-to-equity ratio of 0.39.

Modine Manufacturing (NYSE:MOD) last released its quarterly earnings results on Tuesday, July 28th. The auto parts company reported $1.53 EPS for the quarter, beating analysts’ consensus estimates of $1.27 by $0.26. The firm had revenue of $874.10 million for the quarter, compared to analyst estimates of $878.69 million. Modine Manufacturing had a net margin of 4.28% and a return on equity of 25.59%. The company’s revenue for the quarter was up 28.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.95 earnings per share. Research analysts expect that Modine Manufacturing Company will post 7.65 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Weiss Ratings raised Modine Manufacturing from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, May 28th. UBS Group lifted their price objective on Modine Manufacturing to $310.00 and gave the stock a “buy” rating in a report on Wednesday, May 27th. Wall Street Zen lowered Modine Manufacturing from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. DA Davidson reiterated a “buy” rating and set a $330.00 price target on shares of Modine Manufacturing in a research note on Monday, June 22nd. Finally, KeyCorp lowered their price target on shares of Modine Manufacturing from $370.00 to $280.00 and set an “overweight” rating on the stock in a report on Thursday, July 30th. Seven equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $320.14.

Insider Activity

In related news, insider Eric S. Mcginnis sold 1,020 shares of the stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $295.06, for a total transaction of $300,961.20. Following the sale, the insider directly owned 28,364 shares in the company, valued at $8,369,081.84. This represents a 3.47% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Brian Jon Agen sold 38,282 shares of the firm’s stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $295.17, for a total value of $11,299,697.94. Following the sale, the vice president directly owned 66,343 shares of the company’s stock, valued at $19,582,463.31. This represents a 36.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 54,302 shares of company stock worth $15,928,759. Insiders own 1.92% of the company’s stock.

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.