Wedge Capital Management L L P NC Sells 11,441 Shares of Modine Manufacturing (NYSE:MOD)

Wedge Capital Management L L P NC trimmed its position in shares of Modine Manufacturing (NYSE:MOD) by 9.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 104,453 shares of the auto parts company’s stock after selling 11,441 shares during the period. Wedge Capital Management L L P NC’s holdings in Modine Manufacturing were worth $6,236,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. National Bank of Canada FI bought a new position in shares of Modine Manufacturing in the third quarter worth $347,000. CWM LLC bought a new stake in Modine Manufacturing during the third quarter valued at $393,000. Riverwater Partners LLC bought a new stake in Modine Manufacturing during the third quarter valued at $674,000. Roman Butler Fullerton & Co. bought a new stake in Modine Manufacturing during the third quarter valued at $484,000. Finally, Livforsakringsbolaget Skandia Omsesidigt bought a new stake in Modine Manufacturing during the third quarter valued at $380,000. 95.23% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently commented on MOD shares. B. Riley reiterated a “buy” rating and issued a $98.00 price objective (up previously from $88.00) on shares of Modine Manufacturing in a report on Tuesday, February 27th. StockNews.com downgraded Modine Manufacturing from a “buy” rating to a “hold” rating in a report on Wednesday, January 31st. Oppenheimer initiated coverage on Modine Manufacturing in a report on Tuesday, March 19th. They issued an “outperform” rating and a $105.00 price objective on the stock. Finally, DA Davidson reissued a “buy” rating and issued a $90.00 target price on shares of Modine Manufacturing in a research note on Tuesday, February 27th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $97.67.

Modine Manufacturing Trading Up 2.9 %

NYSE MOD opened at $89.02 on Wednesday. The company has a market capitalization of $4.65 billion, a PE ratio of 21.00, a P/E/G ratio of 0.66 and a beta of 2.29. The company has a fifty day moving average of $89.27 and a 200 day moving average of $67.08. Modine Manufacturing has a 1 year low of $19.41 and a 1 year high of $106.01. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.93 and a quick ratio of 1.21.

Modine Manufacturing (NYSE:MOD) last released its quarterly earnings results on Tuesday, January 30th. The auto parts company reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.17. Modine Manufacturing had a net margin of 9.31% and a return on equity of 25.28%. The firm had revenue of $561.40 million during the quarter, compared to the consensus estimate of $594.84 million. During the same quarter in the prior year, the firm earned $0.48 EPS. The company’s revenue for the quarter was up .2% on a year-over-year basis. Research analysts forecast that Modine Manufacturing will post 3.27 earnings per share for the current year.

Insider Transactions at Modine Manufacturing

In other news, CFO Michael B. Lucareli sold 82,312 shares of the firm’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $90.33, for a total value of $7,435,242.96. Following the sale, the chief financial officer now directly owns 194,587 shares in the company, valued at approximately $17,577,043.71. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Christopher William Patterson sold 14,225 shares of the firm’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $90.56, for a total value of $1,288,216.00. Following the completion of the sale, the director now owns 97,517 shares in the company, valued at $8,831,139.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Michael B. Lucareli sold 82,312 shares of the firm’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $90.33, for a total transaction of $7,435,242.96. Following the completion of the sale, the chief financial officer now owns 194,587 shares of the company’s stock, valued at approximately $17,577,043.71. The disclosure for this sale can be found here. In the last three months, insiders have sold 113,336 shares of company stock worth $10,330,115. 2.86% of the stock is currently owned by insiders.

Modine Manufacturing Company Profile

Modine Manufacturing Company provides engineered heat transfer systems and heat transfer components for use in on- and off-highway original equipment manufacturer (OEM) vehicular applications. It operates through Climate Solutions and Performance Technologies segments. The company offers gas-fired, hydronic, electric, and oil-fired unit heaters; indoor and outdoor duct furnaces; infrared units; perimeter heating products, such as commercial fin-tube radiation, cabinet unit heaters, and convectors; roof-mounted direct- and indirect-fired makeup air units; unit ventilators; single packaged vertical units; precision air conditioning units for data center applications; air handler units; fan walls; chillers; ceiling cassettes; hybrid fan coils; and condensers and condensing units.