Lisanti Capital Growth LLC Reduces Position in Modine Manufacturing Company (NYSE:MOD)

Lisanti Capital Growth LLC decreased its position in shares of Modine Manufacturing Company (NYSE:MOD - Free Report) by 78.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,700 shares of the auto parts company's stock after selling 40,125 shares during the quarter. Lisanti Capital Growth LLC's holdings in Modine Manufacturing were worth $821,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in Modine Manufacturing by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 5,058,967 shares of the auto parts company's stock valued at $586,486,000 after purchasing an additional 70,581 shares during the last quarter. Invesco Ltd. raised its position in shares of Modine Manufacturing by 1.0% during the 4th quarter. Invesco Ltd. now owns 2,012,533 shares of the auto parts company's stock valued at $233,313,000 after buying an additional 20,085 shares during the period. Driehaus Capital Management LLC lifted its holdings in Modine Manufacturing by 2.8% in the fourth quarter. Driehaus Capital Management LLC now owns 1,439,980 shares of the auto parts company's stock valued at $166,937,000 after acquiring an additional 39,193 shares during the last quarter. Wasatch Advisors LP grew its position in Modine Manufacturing by 108.0% in the fourth quarter. Wasatch Advisors LP now owns 1,428,415 shares of the auto parts company's stock worth $165,596,000 after acquiring an additional 741,667 shares during the period. Finally, T. Rowe Price Investment Management Inc. grew its position in Modine Manufacturing by 27.8% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,207,181 shares of the auto parts company's stock worth $139,949,000 after acquiring an additional 262,936 shares during the period. Hedge funds and other institutional investors own 95.23% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Oppenheimer upped their price target on Modine Manufacturing from $121.00 to $122.00 and gave the company an "outperform" rating in a research note on Tuesday. 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 shares of Modine Manufacturing in a research note on Thursday, June 12th. They set an "overweight" rating and a $125.00 target price for the company. Finally, DA Davidson restated a "buy" rating and issued a $155.00 price objective on shares of Modine Manufacturing in a report on Monday, March 17th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $135.50.

Modine Manufacturing Trading Up 4.2%

NYSE MOD traded up $4.15 during trading on Wednesday, hitting $102.15. The stock had a trading volume of 789,876 shares, compared to its average volume of 945,408. The company has a quick ratio of 1.15, a current ratio of 1.78 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $5.35 billion, a PE ratio of 29.87, a PEG ratio of 0.64 and a beta of 2.04. The firm has a 50 day moving average price of $93.62 and a 200 day moving average price of $96.32. Modine Manufacturing Company has a twelve month low of $64.79 and a twelve month high of $146.84.

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

Modine Manufacturing declared that its board has initiated a share buyback plan on Friday, March 7th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the auto parts company to repurchase up to 2.4% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's management believes its stock is undervalued.

Modine Manufacturing 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.