Wellington Management Group LLP Has $72.71 Million Holdings in Modine Manufacturing (NYSE:MOD)

Wellington Management Group LLP trimmed its holdings in shares of Modine Manufacturing (NYSE:MOD - Free Report) by 10.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 627,148 shares of the auto parts company's stock after selling 71,873 shares during the quarter. Wellington Management Group LLP owned about 1.19% of Modine Manufacturing worth $72,705,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of MOD. Barclays PLC grew its position in shares of Modine Manufacturing by 272.4% in the third quarter. Barclays PLC now owns 92,235 shares of the auto parts company's stock valued at $12,247,000 after purchasing an additional 67,465 shares during the last quarter. Nisa Investment Advisors LLC grew its position in shares of Modine Manufacturing by 6.5% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,353 shares of the auto parts company's stock valued at $157,000 after purchasing an additional 82 shares during the last quarter. Janney Montgomery Scott LLC grew its position in shares of Modine Manufacturing by 39.9% in the fourth quarter. Janney Montgomery Scott LLC now owns 3,842 shares of the auto parts company's stock valued at $445,000 after purchasing an additional 1,095 shares during the last quarter. PFG Investments LLC grew its position in shares of Modine Manufacturing by 21.7% in the fourth quarter. PFG Investments LLC now owns 2,801 shares of the auto parts company's stock valued at $325,000 after purchasing an additional 500 shares during the last quarter. Finally, KBC Group NV grew its position in shares of Modine Manufacturing by 42.7% in the fourth quarter. KBC Group NV now owns 2,078 shares of the auto parts company's stock valued at $241,000 after purchasing an additional 622 shares during the last quarter. 95.23% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on MOD shares. Oppenheimer lifted their target price on Modine Manufacturing from $114.00 to $121.00 and gave the stock an "outperform" rating in a research report on Thursday, May 22nd. 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.

Modine Manufacturing Trading Down 2.2%

Shares of MOD traded down $2.01 on Monday, reaching $88.79. 664,404 shares of the company's stock were exchanged, compared to its average volume of 947,851. The company has a current ratio of 1.87, a quick ratio of 1.18 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $4.65 billion, a P/E ratio of 29.80, a price-to-earnings-growth ratio of 0.71 and a beta of 2.08. The business has a 50 day moving average price of $85.38 and a two-hundred day moving average price of $101.81. Modine Manufacturing has a 12 month low of $64.79 and a 12 month high of $146.84.

Modine Manufacturing (NYSE:MOD - Get Free Report) last posted its quarterly earnings results on Tuesday, May 20th. The auto parts company reported $1.12 earnings per share for the quarter, topping analysts' consensus estimates of $0.96 by $0.16. The business had revenue of $647.20 million during the quarter, compared to the consensus estimate of $633.13 million. Modine Manufacturing had a net margin of 6.31% and a return on equity of 24.25%. Modine Manufacturing's revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.77 earnings per share. Research analysts anticipate that Modine Manufacturing will post 3.88 earnings per share for the current year.

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

About Modine Manufacturing

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.