Modine Manufacturing Company $MOD Shares Sold by Lisanti Capital Growth LLC

Lisanti Capital Growth LLC lowered its position in Modine Manufacturing Company (NYSE:MOD) by 35.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 15,500 shares of the auto parts company’s stock after selling 8,475 shares during the quarter. Lisanti Capital Growth LLC’s holdings in Modine Manufacturing were worth $2,902,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MOD. The Manufacturers Life Insurance Company acquired a new position in Modine Manufacturing in the 2nd quarter valued at about $4,478,000. Lazard Asset Management LLC acquired a new stake in shares of Modine Manufacturing during the 1st quarter worth approximately $1,722,000. Robinhood Asset Management LLC acquired a new stake in shares of Modine Manufacturing during the 2nd quarter worth approximately $8,848,000. Reinhart Partners LLC. increased its holdings in shares of Modine Manufacturing by 76.4% during the 3rd quarter. Reinhart Partners LLC. now owns 980,220 shares of the auto parts company’s stock worth $183,497,000 after buying an additional 424,534 shares during the last quarter. Finally, Ranger Investment Management L.P. purchased a new stake in shares of Modine Manufacturing during the 1st quarter valued at approximately $15,557,000. 95.23% of the stock is currently owned by institutional investors and hedge funds.

Modine Manufacturing Trading Up 3.4%

Shares of MOD stock opened at $106.61 on Thursday. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.17 and a quick ratio of 1.34. The firm has a market cap of $5.67 billion, a PE ratio of 44.61, a price-to-earnings-growth ratio of 0.39 and a beta of 1.86. The company has a 50-day moving average of $161.80 and a two-hundred day moving average of $213.55. Modine Manufacturing Company has a 1-year low of $87.84 and a 1-year high of $323.25.

Modine Manufacturing (NYSE:MOD) last released its quarterly earnings results on Tuesday, November 3rd. The auto parts company reported $1.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.47 by ($0.12). Modine Manufacturing had a net margin of 3.58% and a return on equity of 25.96%. The company had revenue of $994.40 million during the quarter, compared to analysts’ expectations of $978.31 million. During the same period last year, the firm posted $0.83 earnings per share. Modine Manufacturing’s revenue was up 34.6% on a year-over-year basis. On average, analysts predict that Modine Manufacturing Company will post 6.55 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on MOD shares. B. Riley Financial decreased their price objective on Modine Manufacturing from $305.00 to $285.00 and set a “buy” rating on the stock in a report on Thursday, October 29th. DA Davidson reiterated a “buy” rating and issued a $330.00 price objective on shares of Modine Manufacturing in a research report on Tuesday, October 27th. Oppenheimer cut their target price on Modine Manufacturing from $260.00 to $215.00 and set an “outperform” rating for the company in a research note on Thursday, November 5th. Cantor Fitzgerald reduced their target price on Modine Manufacturing from $275.00 to $178.00 and set an “overweight” rating on the stock in a research report on Thursday, November 5th. Finally, Robert W. Baird assumed coverage on Modine Manufacturing in a research note on Tuesday, October 6th. They issued an “outperform” rating and a $300.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $264.89.

About Modine Manufacturing

Modine Manufacturing Company is a global provider of thermal management solutions, serving markets that need to control heating, cooling and temperature-related performance. Founded in 1916 by Arthur B. Modine, the company is headquartered in Racine, Wisconsin. Through its Climate Solutions business, Modine supplies heating, ventilation and air conditioning equipment for commercial and industrial buildings, as well as cooling systems for data centers. Its offerings include chillers, heat exchangers and other equipment designed to manage indoor environments and remove heat from technology infrastructure.