Modine Manufacturing (NYSE:MOD) Shares Sold by Ausbil Investment Management Ltd

Ausbil Investment Management Ltd reduced its stake in Modine Manufacturing (NYSE:MOD) by 34.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,455 shares of the auto parts company’s stock after selling 9,341 shares during the period. Ausbil Investment Management Ltd’s holdings in Modine Manufacturing were worth $2,137,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Private Trust Co. NA boosted its stake in Modine Manufacturing by 650.5% in the third quarter. Private Trust Co. NA now owns 773 shares of the auto parts company’s stock valued at $103,000 after acquiring an additional 670 shares during the period. Farther Finance Advisors LLC boosted its position in shares of Modine Manufacturing by 90.9% during the third quarter. Farther Finance Advisors LLC now owns 1,031 shares of the auto parts company’s stock worth $137,000 after buying an additional 491 shares during the period. Nisa Investment Advisors LLC boosted its position in shares of Modine Manufacturing by 6.5% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,353 shares of the auto parts company’s stock worth $157,000 after buying an additional 82 shares during the period. KBC Group NV boosted its position in shares of Modine Manufacturing by 47.8% during the third quarter. KBC Group NV now owns 1,456 shares of the auto parts company’s stock worth $193,000 after buying an additional 471 shares during the period. Finally, Harvest Fund Management Co. Ltd acquired a new position in shares of Modine Manufacturing during the third quarter worth approximately $196,000. 95.23% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Oppenheimer boosted their price objective on Modine Manufacturing from $144.00 to $145.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st.

Modine Manufacturing Stock Performance

Shares of NYSE MOD opened at $101.30 on Friday. Modine Manufacturing has a 12-month low of $60.00 and a 12-month high of $146.84. The company has a market cap of $5.32 billion, a PE ratio of 33.21, a P/E/G ratio of 0.75 and a beta of 2.34. The stock has a 50 day simple moving average of $125.89 and a 200-day simple moving average of $120.89. The company has a current ratio of 1.77, a quick ratio of 1.09 and a debt-to-equity ratio of 0.41.

Modine Manufacturing (NYSE:MOD) last announced its earnings results on Tuesday, October 29th. The auto parts company reported $0.97 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 for the quarter, compared to analysts’ expectations of $646.86 million. During the same quarter in the previous year, the company earned $0.89 earnings per share. The firm’s quarterly revenue was up 6.0% compared to the same quarter last year. On average, equities research analysts forecast that Modine Manufacturing will post 3.83 EPS for the current year.

About Modine Manufacturing

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.