Legato Capital Management LLC Cuts Stock Holdings in Modine Manufacturing Company (NYSE:MOD)

Legato Capital Management LLC lowered its stake in Modine Manufacturing Company (NYSE:MOD - Free Report) by 59.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,411 shares of the auto parts company's stock after selling 16,400 shares during the quarter. Legato Capital Management LLC's holdings in Modine Manufacturing were worth $876,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the stock. GAMMA Investing LLC raised its position in 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 purchasing an additional 142 shares during the period. Versant Capital Management Inc raised its holdings in shares of Modine Manufacturing by 245.9% in the 1st quarter. Versant Capital Management Inc now owns 422 shares of the auto parts company's stock valued at $32,000 after buying an additional 300 shares during the period. Central Pacific Bank Trust Division acquired a new position in Modine Manufacturing during the 1st quarter worth about $46,000. First Horizon Advisors Inc. boosted its holdings in Modine Manufacturing by 442.4% during the 1st 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. Finally, IFP Advisors Inc increased its stake in Modine Manufacturing by 14.2% during the first quarter. IFP Advisors Inc now owns 911 shares of the auto parts company's stock worth $70,000 after purchasing an additional 113 shares during the period. Hedge funds and other institutional investors own 95.23% of the company's stock.

Modine Manufacturing Price Performance

Shares of MOD stock traded up $5.63 during trading hours on Friday, hitting $103.50. The company's stock had a trading volume of 1,437,381 shares, compared to its average volume of 1,051,686. The company has a current ratio of 1.78, a quick ratio of 1.15 and a debt-to-equity ratio of 0.32. The stock has a market cap of $5.43 billion, a price-to-earnings ratio of 30.26, a P/E/G ratio of 0.64 and a beta of 2.04. Modine Manufacturing Company has a twelve month low of $64.79 and a twelve month high of $146.84. The business has a fifty day moving average of $95.91 and a 200-day moving average of $93.64.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on MOD shares. Wall Street Zen upgraded shares of Modine Manufacturing from a "hold" rating to a "buy" rating in a report on Saturday, June 7th. KeyCorp initiated coverage on Modine Manufacturing in a research note on Thursday, June 12th. They issued an "overweight" rating and a $125.00 price objective on the stock. Finally, Oppenheimer boosted their target price on Modine Manufacturing from $121.00 to $122.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 1st. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of "Buy" and an average price target of $135.50.

Modine Manufacturing Company 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.