Spirepoint Private Client LLC Has $343,000 Stock Holdings in Modine Manufacturing Company (NYSE:MOD)

Spirepoint Private Client LLC lowered its position in shares of Modine Manufacturing Company (NYSE:MOD - Free Report) by 37.4% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,473 shares of the auto parts company's stock after selling 2,668 shares during the quarter. Spirepoint Private Client LLC's holdings in Modine Manufacturing were worth $343,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Arizona State Retirement System lifted its position in Modine Manufacturing by 0.8% during the 4th quarter. Arizona State Retirement System now owns 14,451 shares of the auto parts company's stock worth $1,675,000 after buying an additional 118 shares in the last quarter. Envestnet Portfolio Solutions Inc. raised its stake in shares of Modine Manufacturing by 8.2% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 1,791 shares of the auto parts company's stock worth $208,000 after acquiring an additional 136 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Modine Manufacturing by 63.1% during 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 last quarter. Summit Investment Advisors Inc. increased its holdings in shares of Modine Manufacturing by 2.8% in the fourth quarter. Summit Investment Advisors Inc. now owns 5,284 shares of the auto parts company's stock valued at $613,000 after purchasing an additional 146 shares in the last quarter. Finally, Signaturefd LLC raised its position in Modine Manufacturing by 6.0% in the 4th quarter. Signaturefd LLC now owns 2,786 shares of the auto parts company's stock worth $323,000 after purchasing an additional 157 shares during the last quarter. Institutional investors and hedge funds own 95.23% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Wall Street Zen raised Modine Manufacturing from a "hold" rating to a "buy" rating in a research note on Saturday, June 7th. DA Davidson reiterated a "buy" rating and issued a $155.00 price objective on shares of Modine Manufacturing in a research report on Monday, March 17th. Oppenheimer upped 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, KeyCorp started coverage on shares of Modine Manufacturing in a research note on Thursday, June 12th. They issued an "overweight" rating and a $125.00 target price on the stock. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $135.25.

Modine Manufacturing Price Performance

Shares of MOD opened at $100.13 on Wednesday. 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 $5.25 billion, a P/E ratio of 29.28, a price-to-earnings-growth ratio of 0.63 and a beta of 2.06. The stock's 50-day moving average price is $90.95 and its two-hundred day moving average price is $97.36. Modine Manufacturing Company has a 1 year low of $64.79 and a 1 year high of $146.84.

Modine Manufacturing (NYSE:MOD - Get Free Report) last released its quarterly earnings data on Tuesday, May 20th. The auto parts company reported $1.12 earnings per share for the quarter, topping 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 for the quarter, compared to analyst estimates of $633.13 million. During the same quarter last year, the firm earned $0.77 EPS. Modine Manufacturing's quarterly revenue was up 7.2% compared to the same quarter last year. On average, equities analysts predict that Modine Manufacturing Company will post 3.88 earnings per share for the current year.

Modine Manufacturing announced that its board has approved a share buyback plan on Friday, March 7th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the auto parts company to buy up to 2.4% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's leadership believes its shares are 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.