Wellington Management Group LLP Reduces Holdings in Modine Manufacturing (NYSE:MOD)

Wellington Management Group LLP decreased its position in shares of Modine Manufacturing (NYSE:MOD) by 53.7% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 699,021 shares of the auto parts company’s stock after selling 812,364 shares during the quarter. Wellington Management Group LLP’s holdings in Modine Manufacturing were worth $92,823,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. FMR LLC grew its holdings in shares of Modine Manufacturing by 14.0% during the third quarter. FMR LLC now owns 4,417,927 shares of the auto parts company’s stock worth $586,657,000 after purchasing an additional 543,419 shares during the last quarter. State Street Corp grew its holdings in shares of Modine Manufacturing by 1.5% during the third quarter. State Street Corp now owns 1,219,916 shares of the auto parts company’s stock worth $161,993,000 after buying an additional 18,108 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of Modine Manufacturing by 2.4% during the third quarter. Principal Financial Group Inc. now owns 1,152,735 shares of the auto parts company’s stock worth $153,072,000 after buying an additional 26,527 shares during the last quarter. Driehaus Capital Management LLC grew its holdings in shares of Modine Manufacturing by 32.8% during the second quarter. Driehaus Capital Management LLC now owns 1,101,932 shares of the auto parts company’s stock worth $110,403,000 after buying an additional 272,174 shares during the last quarter. Finally, Wasatch Advisors LP purchased a new position in shares of Modine Manufacturing during the third quarter worth about $91,193,000. Hedge funds and other institutional investors own 95.23% of the company’s stock.

Modine Manufacturing Price Performance

MOD stock opened at $130.36 on Wednesday. The firm has a 50 day moving average of $130.41 and a 200-day moving average of $115.04. Modine Manufacturing has a 12-month low of $51.41 and a 12-month high of $146.84. The company has a current ratio of 1.77, a quick ratio of 1.09 and a debt-to-equity ratio of 0.41. The company has a market cap of $6.84 billion, a price-to-earnings ratio of 42.74, a PEG ratio of 1.08 and a beta of 2.31.

Modine Manufacturing (NYSE:MOD) last issued its quarterly earnings data on Tuesday, October 29th. The auto parts company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.05. Modine Manufacturing had a return on equity of 23.96% and a net margin of 6.59%. The firm had revenue of $658.00 million during the quarter, compared to the consensus estimate of $646.86 million. During the same period in the previous year, the firm posted $0.89 EPS. The company’s quarterly revenue was up 6.0% compared to the same quarter last year. As a group, equities analysts expect that Modine Manufacturing will post 3.83 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Oppenheimer raised their price target on Modine Manufacturing from $144.00 to $145.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. DA Davidson raised their price target on Modine Manufacturing from $140.00 to $155.00 and gave the stock a “buy” rating in a report on Tuesday, September 24th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $146.67.

Modine Manufacturing 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.