ClariVest Asset Management LLC Sells 238 Shares of Modine Manufacturing (NYSE:MOD)

ClariVest Asset Management LLC lessened its position in Modine Manufacturing (NYSE:MOD) by 0.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 27,848 shares of the auto parts company’s stock after selling 238 shares during the period. ClariVest Asset Management LLC owned about 0.05% of Modine Manufacturing worth $2,651,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in MOD. Oppenheimer & Co. Inc. lifted its position in Modine Manufacturing by 43.7% during the first quarter. Oppenheimer & Co. Inc. now owns 4,915 shares of the auto parts company’s stock valued at $468,000 after purchasing an additional 1,495 shares during the period. SG Americas Securities LLC bought a new position in Modine Manufacturing during the first quarter valued at approximately $744,000. Peregrine Asset Advisers Inc. lifted its position in Modine Manufacturing by 24.3% during the first quarter. Peregrine Asset Advisers Inc. now owns 91,337 shares of the auto parts company’s stock valued at $8,694,000 after purchasing an additional 17,876 shares during the period. FORA Capital LLC bought a new position in Modine Manufacturing during the first quarter valued at approximately $2,521,000. Finally, Nordea Investment Management AB lifted its position in Modine Manufacturing by 0.4% during the first quarter. Nordea Investment Management AB now owns 82,126 shares of the auto parts company’s stock valued at $7,879,000 after purchasing an additional 338 shares during the period. Institutional investors own 95.23% of the company’s stock.

Modine Manufacturing Stock Performance

MOD traded down $0.69 during trading on Friday, hitting $107.80. The company’s stock had a trading volume of 1,245,973 shares, compared to its average volume of 730,146. The company has a quick ratio of 0.98, a current ratio of 1.64 and a debt-to-equity ratio of 0.53. Modine Manufacturing has a one year low of $34.91 and a one year high of $114.74. The firm has a market cap of $5.65 billion, a PE ratio of 35.58, a P/E/G ratio of 0.86 and a beta of 2.27. The business’s 50 day simple moving average is $100.30 and its 200-day simple moving average is $87.49.

Modine Manufacturing (NYSE:MOD) last released its quarterly earnings results on Tuesday, May 21st. The auto parts company reported $0.77 earnings per share for the quarter, missing the consensus estimate of $0.79 by ($0.02). The business had revenue of $603.50 million during the quarter, compared to the consensus estimate of $605.44 million. Modine Manufacturing had a return on equity of 24.69% and a net margin of 6.71%. The firm’s revenue was down 2.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.67 earnings per share. As a group, sell-side analysts predict that Modine Manufacturing will post 3.7 EPS for the current fiscal year.

Analysts Set New Price Targets

MOD has been the topic of a number of research analyst reports. B. Riley restated a “buy” rating and set a $125.00 price objective on shares of Modine Manufacturing in a research report on Thursday, June 27th. DA Davidson increased their price target on shares of Modine Manufacturing from $110.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, May 24th. Finally, Oppenheimer increased their price target on shares of Modine Manufacturing from $105.00 to $110.00 and gave the stock an “outperform” rating in a research report on Thursday, May 23rd.

Modine Manufacturing Company Profile

Modine Manufacturing Company provides engineered heat transfer systems and heat transfer components for use in on- and off-highway original equipment manufacturer (OEM) vehicular applications. It operates through Climate Solutions and Performance Technologies segments. The company offers gas-fired, hydronic, electric, and oil-fired unit heaters; indoor and outdoor duct furnaces; infrared units; perimeter heating products, such as commercial fin-tube radiation, cabinet unit heaters, and convectors; roof-mounted direct- and indirect-fired makeup air units; unit ventilators; single packaged vertical units; precision air conditioning units for data center applications; air handler units; fan walls; chillers; ceiling cassettes; hybrid fan coils; and condensers and condensing units.