Bridge City Capital LLC Lowers Stake in Modine Manufacturing Company $MOD

Bridge City Capital LLC lowered its stake in shares of Modine Manufacturing Company (NYSE:MOD) by 10.5% during the fourth quarter, Holdings Channel reports. The fund owned 42,469 shares of the auto parts company’s stock after selling 4,980 shares during the period. Modine Manufacturing comprises 1.7% of Bridge City Capital LLC’s investment portfolio, making the stock its 17th largest position. Bridge City Capital LLC’s holdings in Modine Manufacturing were worth $5,670,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of MOD. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Modine Manufacturing by 26.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,223 shares of the auto parts company’s stock worth $2,857,000 after acquiring an additional 7,831 shares during the period. California Public Employees Retirement System increased its position in shares of Modine Manufacturing by 8.3% during the second quarter. California Public Employees Retirement System now owns 68,702 shares of the auto parts company’s stock worth $6,767,000 after acquiring an additional 5,244 shares during the period. State Street Corp increased its position in shares of Modine Manufacturing by 4.2% during the second quarter. State Street Corp now owns 1,309,488 shares of the auto parts company’s stock worth $128,985,000 after acquiring an additional 53,351 shares during the period. Qube Research & Technologies Ltd increased its position in shares of Modine Manufacturing by 106.3% during the second quarter. Qube Research & Technologies Ltd now owns 161,319 shares of the auto parts company’s stock worth $15,890,000 after acquiring an additional 83,105 shares during the period. Finally, Sei Investments Co. increased its position in shares of Modine Manufacturing by 70.8% during the second quarter. Sei Investments Co. now owns 309,653 shares of the auto parts company’s stock worth $30,501,000 after acquiring an additional 128,348 shares during the period. Hedge funds and other institutional investors own 95.23% of the company’s stock.

Modine Manufacturing Price Performance

Shares of NYSE:MOD opened at $273.16 on Friday. The company’s fifty day moving average price is $260.23 and its 200 day moving average price is $205.14. Modine Manufacturing Company has a 12 month low of $86.48 and a 12 month high of $323.25. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.94 and a quick ratio of 1.25. The firm has a market capitalization of $14.43 billion, a P/E ratio of 121.95, a P/E/G ratio of 0.89 and a beta of 1.65.

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

Analysts Set New Price Targets

A number of research firms have recently weighed in on MOD. KeyCorp upped their price objective on Modine Manufacturing from $250.00 to $370.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 27th. Wall Street Zen raised Modine Manufacturing from a “hold” rating to a “buy” rating in a research report on Saturday, May 30th. B. Riley Financial raised their price objective on shares of Modine Manufacturing from $250.00 to $264.00 and gave the company a “buy” rating in a report on Tuesday, May 26th. Roth Mkm began coverage on shares of Modine Manufacturing in a report on Wednesday, February 18th. They issued a “buy” rating and a $263.00 price objective on the stock. Finally, UBS Group raised their price objective on shares of Modine Manufacturing to $310.00 and gave the company a “buy” rating in a report on Wednesday, May 27th. Seven analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $327.14.

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.