Modine Manufacturing Company $MOD Stock Sold by Inspire Investing LLC

Key Points

• Inspire Investing cut its Modine Manufacturing stake by 61.2% in the third quarter, selling 7,819 shares and retaining 4,947 shares valued at approximately $926,000.
• Institutional ownership remains high at 95.23%, with several investors increasing positions or initiating new stakes, including Reinhart Partners, which raised its holdings by 76.4%.
• Modine shares opened at $130.42, down 2.2%, despite the company beating quarterly EPS estimates and reporting 28% year-over-year revenue growth. Analysts maintain a “Moderate Buy” consensus with a $305.67 average price target.

Inspire Investing LLC reduced its holdings in shares of Modine Manufacturing Company (NYSE:MOD - Free Report) by 61.2% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,947 shares of the auto parts company's stock after selling 7,819 shares during the quarter. Inspire Investing LLC's holdings in Modine Manufacturing were worth $926,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Root Financial Partners LLC bought a new position in Modine Manufacturing in the third quarter valued at about $86,000. DUTCH ASSET Corp raised its stake in Modine Manufacturing by 22.8% during the third quarter. DUTCH ASSET Corp now owns 24,356 shares of the auto parts company's stock worth $4,559,000 after acquiring an additional 4,516 shares in the last quarter. Pension & Wealth Management Advisors Inc. bought a new position in shares of Modine Manufacturing in the third quarter worth about $253,000. Reinhart Partners LLC. lifted its holdings in shares of Modine Manufacturing by 76.4% in the third quarter. Reinhart Partners LLC. now owns 980,220 shares of the auto parts company's stock worth $183,497,000 after acquiring an additional 424,534 shares during the last quarter. Finally, Legacy Wealth Asset Management LLC bought a new position in shares of Modine Manufacturing in the third quarter worth about $436,000. 95.23% of the stock is owned by institutional investors and hedge funds.

Modine Manufacturing Trading Down 2.2%

Shares of MOD stock opened at $130.42 on Tuesday. Modine Manufacturing Company has a twelve month low of $111.18 and a twelve month high of $323.25. The stock's fifty day simple moving average is $181.22 and its 200 day simple moving average is $214.49. The company has a quick ratio of 1.22, a current ratio of 2.04 and a debt-to-equity ratio of 0.39. The firm has a market capitalization of $6.93 billion, a P/E ratio of 24.29, a P/E/G ratio of 0.47 and a beta of 1.71.

Modine Manufacturing (NYSE:MOD - Get Free Report) last posted its earnings results on Wednesday, July 29th. The auto parts company reported $1.53 EPS for the quarter, beating the consensus estimate of $1.27 by $0.26. Modine Manufacturing had a return on equity of 25.59% and a net margin of 4.28%. The firm had revenue of $874.10 million during the quarter, compared to the consensus estimate of $878.69 million. During the same period last year, the company earned $0.95 earnings per share. The business's quarterly revenue was up 28.0% on a year-over-year basis. As a group, sell-side analysts predict that Modine Manufacturing Company will post 7.02 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on MOD shares. Zacks Research downgraded shares of Modine Manufacturing from a "hold" rating to a "strong sell" rating in a research note on Friday, October 16th. Oppenheimer lowered their price objective on shares of Modine Manufacturing from $300.00 to $260.00 and set an "outperform" rating for the company in a research report on Friday, October 2nd. DA Davidson reiterated a "buy" rating and set a $330.00 price objective on shares of Modine Manufacturing in a research report on Tuesday, September 29th. Weiss Ratings reissued a "hold (c)" rating on shares of Modine Manufacturing in a research note on Tuesday, August 25th. Finally, B. Riley Financial restated a "buy" rating and issued a $305.00 target price (down from $340.00) on shares of Modine Manufacturing in a research report on Thursday, July 30th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Modine Manufacturing has an average rating of "Moderate Buy" and a consensus price target of $305.67.

Modine Manufacturing Profile

Modine Manufacturing Company NYSE: MOD is a diversified thermal management company that develops and manufactures solutions for managing heat in vehicles, equipment, buildings and industrial systems. Its products are designed to improve efficiency, reliability and performance across a range of applications.

The company serves the automotive, commercial vehicle, off-highway, power generation, data center, heating, ventilation, air conditioning and refrigeration markets. Its offerings include heat exchangers, radiators, charge air coolers, battery and power electronics cooling systems, liquid-cooling equipment, coils and other thermal management components and systems.

Founded in 1916 by Arthur B.

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