Harbor Capital Advisors Inc. Lowers Position in Modine Manufacturing Company $MOD

Harbor Capital Advisors Inc. decreased its holdings in shares of Modine Manufacturing Company (NYSE:MOD) by 69.3% during the third quarter, according to its most recent filing with the SEC. The firm owned 56,049 shares of the auto parts company’s stock after selling 126,761 shares during the period. Modine Manufacturing accounts for about 0.6% of Harbor Capital Advisors Inc.’s portfolio, making the stock its 21st largest position. Harbor Capital Advisors Inc. owned 0.11% of Modine Manufacturing worth $7,968,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of MOD. Situational Awareness LP boosted its stake in shares of Modine Manufacturing by 980.1% during the first quarter. Situational Awareness LP now owns 716,824 shares of the auto parts company’s stock valued at $55,016,000 after purchasing an additional 650,457 shares in the last quarter. Champlain Investment Partners LLC boosted its position in Modine Manufacturing by 244.3% during the 2nd quarter. Champlain Investment Partners LLC now owns 743,643 shares of the auto parts company’s stock valued at $73,249,000 after acquiring an additional 527,626 shares in the last quarter. Congress Asset Management Co. increased its holdings in shares of Modine Manufacturing by 954.8% in the 3rd quarter. Congress Asset Management Co. now owns 527,480 shares of the auto parts company’s stock valued at $74,987,000 after acquiring an additional 477,473 shares during the period. Norges Bank bought a new position in shares of Modine Manufacturing in the 2nd quarter worth $41,081,000. Finally, Hood River Capital Management LLC boosted its position in Modine Manufacturing by 222.8% during the second quarter. Hood River Capital Management LLC now owns 564,466 shares of the auto parts company’s stock valued at $55,600,000 after purchasing an additional 389,574 shares in the last quarter. Institutional investors own 95.23% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Neil David Brinker sold 31,871 shares of the stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $160.56, for a total value of $5,117,207.76. Following the transaction, the chief executive officer directly owned 238,312 shares of the company’s stock, valued at approximately $38,263,374.72. This represents a 11.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.48% of the company’s stock.

Modine Manufacturing Stock Down 0.0%

MOD stock opened at $137.59 on Thursday. The stock has a market capitalization of $7.24 billion, a PE ratio of 39.77, a price-to-earnings-growth ratio of 0.87 and a beta of 1.69. Modine Manufacturing Company has a 52 week low of $64.79 and a 52 week high of $166.94. The company has a quick ratio of 1.16, a current ratio of 2.00 and a debt-to-equity ratio of 0.50. The firm has a 50 day moving average of $149.81 and a 200 day moving average of $133.50.

Modine Manufacturing (NYSE:MOD) last posted its quarterly earnings results on Tuesday, October 28th. The auto parts company reported $1.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.09. The business had revenue of $738.90 million during the quarter, compared to analysts’ expectations of $699.91 million. Modine Manufacturing had a net margin of 6.93% and a return on equity of 23.19%. The business’s quarterly revenue was up 12.3% on a year-over-year basis. During the same quarter last year, the company posted $0.97 earnings per share. Sell-side analysts forecast that Modine Manufacturing Company will post 3.88 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have commented on MOD shares. Zacks Research downgraded shares of Modine Manufacturing from a “strong-buy” rating to a “hold” rating in a report on Monday, September 29th. DA Davidson reiterated a “buy” rating and set a $200.00 price objective on shares of Modine Manufacturing in a research note on Wednesday, November 19th. Oppenheimer increased their target price on shares of Modine Manufacturing from $145.00 to $180.00 and gave the company an “outperform” rating in a research report on Tuesday, October 14th. UBS Group initiated coverage on shares of Modine Manufacturing in a report on Thursday, November 20th. They issued a “buy” rating and a $173.00 price target on the stock. Finally, KeyCorp upped their price target on Modine Manufacturing from $160.00 to $175.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 14th. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $182.00.

Modine Manufacturing 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.