Goldman Sachs Group Inc. Cuts Holdings in Modine Manufacturing Company $MOD

Goldman Sachs Group Inc. lessened its stake in Modine Manufacturing Company (NYSE:MOD) by 16.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 713,537 shares of the auto parts company’s stock after selling 143,140 shares during the period. Goldman Sachs Group Inc. owned approximately 1.35% of Modine Manufacturing worth $95,264,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Root Financial Partners LLC boosted its stake in shares of Modine Manufacturing by 140.5% in the 4th quarter. Root Financial Partners LLC now owns 368 shares of the auto parts company’s stock valued at $49,000 after purchasing an additional 215 shares in the last quarter. Arcadia Investment Management Corp MI boosted its stake in shares of Modine Manufacturing by 394.3% in the 4th quarter. Arcadia Investment Management Corp MI now owns 8,353 shares of the auto parts company’s stock valued at $1,115,000 after purchasing an additional 6,663 shares in the last quarter. BNP Paribas Financial Markets boosted its stake in shares of Modine Manufacturing by 2,964.8% in the 4th quarter. BNP Paribas Financial Markets now owns 332,072 shares of the auto parts company’s stock valued at $44,335,000 after purchasing an additional 321,237 shares in the last quarter. AdvisorShares Investments LLC boosted its stake in shares of Modine Manufacturing by 40.4% in the 4th quarter. AdvisorShares Investments LLC now owns 667 shares of the auto parts company’s stock valued at $89,000 after purchasing an additional 192 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Modine Manufacturing in the 4th quarter valued at $58,309,000. Hedge funds and other institutional investors own 95.23% of the company’s stock.

Modine Manufacturing Trading Up 1.3%

NYSE:MOD opened at $278.77 on Wednesday. The company has a fifty day moving average of $256.98 and a 200 day moving average of $202.90. Modine Manufacturing Company has a 52 week low of $86.48 and a 52 week high of $323.25. The company has a quick ratio of 1.25, a current ratio of 1.94 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $14.72 billion, a P/E ratio of 124.45, a P/E/G ratio of 0.89 and a beta of 1.65.

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on MOD shares. Roth Mkm started coverage on shares of Modine Manufacturing in a research note on Wednesday, February 18th. They issued a “buy” rating and a $263.00 price objective for the company. Zacks Research cut shares of Modine Manufacturing from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 13th. DA Davidson upped their price objective on shares of Modine Manufacturing from $265.00 to $330.00 and gave the company a “buy” rating in a research note on Friday, May 29th. B. Riley Financial upped their price objective on shares of Modine Manufacturing from $250.00 to $264.00 and gave the company a “buy” rating in a research note on Tuesday, May 26th. Finally, KeyCorp upped their price objective on shares of Modine Manufacturing from $250.00 to $370.00 and gave the company an “overweight” rating in a research note on Wednesday, May 27th. Seven analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, Modine Manufacturing currently has a consensus rating of “Moderate Buy” and an average target price of $327.14.

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.