Royce & Associates LP Sells 66,340 Shares of Modine Manufacturing (NYSE:MOD)

Royce & Associates LP lessened its stake in Modine Manufacturing (NYSE:MOD) by 24.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 210,247 shares of the auto parts company’s stock after selling 66,340 shares during the quarter. Royce & Associates LP’s holdings in Modine Manufacturing were worth $27,919,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in MOD. Acadian Asset Management LLC acquired a new position in shares of Modine Manufacturing during the first quarter worth about $37,000. Opal Wealth Advisors LLC acquired a new position in shares of Modine Manufacturing during the second quarter worth about $51,000. West Oak Capital LLC boosted its position in shares of Modine Manufacturing by 300.0% during the second quarter. West Oak Capital LLC now owns 600 shares of the auto parts company’s stock worth $60,000 after buying an additional 450 shares during the period. Fifth Third Bancorp acquired a new position in shares of Modine Manufacturing during the second quarter worth about $64,000. Finally, DekaBank Deutsche Girozentrale acquired a new position in shares of Modine Manufacturing during the second quarter worth about $68,000. 95.23% of the stock is owned by institutional investors and hedge funds.

Modine Manufacturing Price Performance

NYSE:MOD opened at $123.17 on Friday. 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 stock’s 50 day moving average price is $124.49 and its two-hundred day moving average price is $110.67. The firm has a market capitalization of $6.47 billion, a price-to-earnings ratio of 40.38, a P/E/G ratio of 0.98 and a beta of 2.25. Modine Manufacturing has a 12-month low of $48.10 and a 12-month high of $141.72.

Modine Manufacturing (NYSE:MOD) last released its quarterly earnings data on Tuesday, October 29th. The auto parts company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.05. The firm had revenue of $658.00 million for the quarter, compared to analyst estimates of $646.86 million. Modine Manufacturing had a return on equity of 23.96% and a net margin of 6.59%. The business’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.89 earnings per share. On average, analysts anticipate that Modine Manufacturing will post 3.83 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on MOD shares. Oppenheimer upped their price objective on Modine Manufacturing from $144.00 to $145.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. B. Riley upped their price objective on Modine Manufacturing from $125.00 to $140.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. DA Davidson increased their price target on Modine Manufacturing from $140.00 to $155.00 and gave the company a “buy” rating in a research report on Tuesday, September 24th. Finally, William Blair assumed coverage on Modine Manufacturing in a research report on Monday, July 29th. They set an “outperform” rating for the company. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target 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.