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

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

Several other institutional investors also recently added to or reduced their stakes in MOD. Skandinaviska Enskilda Banken AB publ increased its position in Modine Manufacturing by 567.6% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 227 shares of the auto parts company's stock valued at $27,000 after purchasing an additional 193 shares during the period. GAMMA Investing LLC increased its position in Modine Manufacturing by 63.1% during the 1st 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 increased its position in Modine Manufacturing by 245.9% during the 1st quarter. Versant Capital Management Inc now owns 422 shares of the auto parts company's stock valued at $32,000 after purchasing an additional 300 shares during the period. Central Pacific Bank Trust Division purchased a new position in Modine Manufacturing during the 1st quarter valued at about $46,000. Finally, Centaurus Financial Inc. purchased a new position in Modine Manufacturing during the 4th quarter valued at about $148,000. Hedge funds and other institutional investors own 95.23% of the company's stock.

Wall Street Analyst Weigh In

MOD has been the topic of a number of research reports. Wall Street Zen raised shares of Modine Manufacturing from a "hold" rating to a "buy" rating in a research report on Saturday, June 7th. KeyCorp initiated coverage on shares of Modine Manufacturing in a research report on Thursday, June 12th. They set an "overweight" rating and a $125.00 target price on the stock. Oppenheimer raised their target price on shares of Modine Manufacturing from $114.00 to $121.00 and gave the company an "outperform" rating in a research report on Thursday, May 22nd. Finally, DA Davidson reissued a "buy" rating and set a $155.00 target price on shares of Modine Manufacturing in a research report on Monday, March 17th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $135.25.

Modine Manufacturing Stock Down 0.2%

NYSE:MOD opened at $101.57 on Friday. Modine Manufacturing Company has a fifty-two week low of $64.79 and a fifty-two week high of $146.84. The stock has a market capitalization of $5.32 billion, a P/E ratio of 29.70, a P/E/G ratio of 0.66 and a beta of 2.06. 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 company's 50-day simple moving average is $92.52 and its 200-day simple moving average is $96.76.

Modine Manufacturing (NYSE:MOD - Get Free Report) last released its quarterly earnings results 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. 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 for the quarter, compared to analysts' expectations of $633.13 million. During the same period last year, the business earned $0.77 EPS. The company's revenue was up 7.2% compared to the same quarter last year. On average, equities analysts anticipate that Modine Manufacturing Company will post 3.88 earnings per share for the current fiscal year.

Modine Manufacturing announced that its board has approved a share repurchase program 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 programs are generally a sign that the company's leadership believes its shares are undervalued.

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.

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