Modine Manufacturing (NYSE:MOD) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lessened its stake in shares of Modine Manufacturing (NYSE:MOD) by 25.4% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 191,314 shares of the auto parts company’s stock after selling 65,191 shares during the period. Thrivent Financial for Lutherans owned 0.36% of Modine Manufacturing worth $25,404,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the stock. Banque Cantonale Vaudoise raised its position in shares of Modine Manufacturing by 9.8% during the 2nd quarter. Banque Cantonale Vaudoise now owns 1,165 shares of the auto parts company’s stock worth $117,000 after purchasing an additional 104 shares during the last quarter. Xponance Inc. raised its position in shares of Modine Manufacturing by 4.9% during the 2nd quarter. Xponance Inc. now owns 3,270 shares of the auto parts company’s stock worth $328,000 after purchasing an additional 153 shares during the last quarter. SummerHaven Investment Management LLC raised its position in shares of Modine Manufacturing by 0.7% during the 2nd quarter. SummerHaven Investment Management LLC now owns 21,194 shares of the auto parts company’s stock worth $2,123,000 after purchasing an additional 155 shares during the last quarter. Ameritas Advisory Services LLC raised its position in shares of Modine Manufacturing by 2.9% during the 2nd quarter. Ameritas Advisory Services LLC now owns 7,000 shares of the auto parts company’s stock worth $701,000 after purchasing an additional 200 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC raised its holdings in Modine Manufacturing by 7.3% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 3,132 shares of the auto parts company’s stock valued at $314,000 after acquiring an additional 212 shares during the last quarter. Institutional investors and hedge funds own 95.23% of the company’s stock.

Modine Manufacturing Stock Performance

Modine Manufacturing stock opened at $136.06 on Wednesday. The firm has a 50 day simple moving average of $126.39 and a 200-day simple moving average of $111.65. Modine Manufacturing has a 1-year low of $48.88 and a 1-year high of $141.72. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.77 and a quick ratio of 1.09. The stock has a market cap of $7.14 billion, a price-to-earnings ratio of 44.61, a price-to-earnings-growth ratio of 0.95 and a beta of 2.25.

Modine Manufacturing (NYSE:MOD) last posted its quarterly earnings results on Tuesday, October 29th. The auto parts company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.05. Modine Manufacturing had a net margin of 6.59% and a return on equity of 23.96%. The business had revenue of $658.00 million during the quarter, compared to analysts’ expectations of $646.86 million. During the same quarter in the prior year, the company posted $0.89 EPS. The business’s revenue for the quarter was up 6.0% on a year-over-year basis. On average, analysts expect that Modine Manufacturing will post 3.83 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have commented on MOD. William Blair began coverage on shares of Modine Manufacturing in a report on Monday, July 29th. They issued an “outperform” rating for the company. Oppenheimer increased their price objective on shares of Modine Manufacturing from $144.00 to $145.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. DA Davidson increased their price objective on shares of Modine Manufacturing from $140.00 to $155.00 and gave the company a “buy” rating in a report on Tuesday, September 24th. Finally, B. Riley increased their price objective on shares of Modine Manufacturing from $125.00 to $140.00 and gave the company a “buy” rating in a report on Thursday, August 1st. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Modine Manufacturing has a consensus rating of “Moderate Buy” and an average target price of $146.67.

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.