Brown Advisory Inc. Sells 57,708 Shares of Modine Manufacturing Company (NYSE:MOD)

Brown Advisory Inc. reduced its stake in shares of Modine Manufacturing Company (NYSE:MOD - Free Report) by 10.3% in the first quarter, according to its most recent filing with the SEC. The fund owned 502,541 shares of the auto parts company's stock after selling 57,708 shares during the period. Brown Advisory Inc. owned approximately 0.96% of Modine Manufacturing worth $38,570,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in MOD. Skandinaviska Enskilda Banken AB publ lifted its stake in Modine Manufacturing by 567.6% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 227 shares of the auto parts company's stock worth $27,000 after purchasing an additional 193 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Modine Manufacturing by 63.1% in the first quarter. GAMMA Investing LLC now owns 367 shares of the auto parts company's stock valued at $28,000 after acquiring an additional 142 shares during the period. Versant Capital Management Inc increased its position in shares of Modine Manufacturing by 245.9% in the first quarter. Versant Capital Management Inc now owns 422 shares of the auto parts company's stock valued at $32,000 after acquiring an additional 300 shares during the period. Central Pacific Bank Trust Division purchased a new position in shares of Modine Manufacturing in the first quarter valued at about $46,000. Finally, First Horizon Advisors Inc. increased its position in shares of Modine Manufacturing by 442.4% in the first quarter. First Horizon Advisors Inc. now owns 640 shares of the auto parts company's stock valued at $49,000 after acquiring an additional 522 shares during the period. 95.23% of the stock is owned by institutional investors.

Analyst Ratings Changes

MOD has been the topic of a number of analyst reports. Wall Street Zen upgraded shares of Modine Manufacturing from a "hold" rating to a "buy" rating in a research report on Saturday, June 7th. Oppenheimer boosted their price objective on shares of Modine Manufacturing from $121.00 to $122.00 and gave the company an "outperform" rating in a research report on Tuesday, July 1st. KeyCorp began coverage on shares of Modine Manufacturing in a research report on Thursday, June 12th. They issued an "overweight" rating and a $125.00 price objective on the stock. Finally, DA Davidson reiterated a "buy" rating and set a $155.00 price target on shares of Modine Manufacturing in a research report on Monday, March 17th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $135.50.

Modine Manufacturing Trading Down 0.6%

Shares of NYSE MOD traded down $0.55 during midday trading on Friday, hitting $92.10. 981,878 shares of the company traded hands, compared to its average volume of 961,009. Modine Manufacturing Company has a 12-month low of $64.79 and a 12-month high of $146.84. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.15 and a current ratio of 1.78. The stock has a 50-day moving average price of $96.32 and a 200 day moving average price of $95.09. The firm has a market cap of $4.83 billion, a P/E ratio of 26.93, a P/E/G ratio of 0.60 and a beta of 2.04.

Modine Manufacturing (NYSE:MOD - Get Free Report) last announced its quarterly earnings data on Tuesday, May 20th. The auto parts company reported $1.12 earnings per share for the quarter, topping analysts' consensus estimates of $0.96 by $0.16. The business had revenue of $647.20 million for the quarter, compared to analysts' expectations of $633.13 million. Modine Manufacturing had a net margin of 7.12% and a return on equity of 25.31%. The business's revenue was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.77 earnings per share. As a group, analysts expect that Modine Manufacturing Company will post 3.88 earnings per share 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.