Teton Advisors Inc. Has $5.02 Million Holdings in Modine Manufacturing (NYSE:MOD)

Teton Advisors Inc. lowered its stake in Modine Manufacturing (NYSE:MOD) by 62.7% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 84,000 shares of the auto parts company’s stock after selling 141,500 shares during the period. Modine Manufacturing makes up 1.6% of Teton Advisors Inc.’s portfolio, making the stock its 12th largest holding. Teton Advisors Inc. owned 0.16% of Modine Manufacturing worth $5,015,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. Capital World Investors acquired a new stake in shares of Modine Manufacturing during the fourth quarter worth $11,623,000. Capital International Investors raised its stake in Modine Manufacturing by 35.1% in the 4th quarter. Capital International Investors now owns 1,013,899 shares of the auto parts company’s stock worth $60,530,000 after purchasing an additional 263,614 shares in the last quarter. Campbell & CO Investment Adviser LLC boosted its holdings in Modine Manufacturing by 16.4% in the 4th quarter. Campbell & CO Investment Adviser LLC now owns 27,044 shares of the auto parts company’s stock valued at $1,615,000 after purchasing an additional 3,816 shares during the period. Axiom Investors LLC DE grew its position in shares of Modine Manufacturing by 286.0% during the 4th quarter. Axiom Investors LLC DE now owns 281,690 shares of the auto parts company’s stock worth $16,817,000 after purchasing an additional 208,715 shares in the last quarter. Finally, 1492 Capital Management LLC bought a new position in shares of Modine Manufacturing during the fourth quarter worth approximately $1,284,000. 95.23% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MOD has been the subject of several recent research reports. Oppenheimer began coverage on Modine Manufacturing in a research note on Tuesday, March 19th. They issued an “outperform” rating and a $105.00 price target for the company. B. Riley reissued a “buy” rating and set a $98.00 target price (up 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 research note on Wednesday, January 31st. Finally, DA Davidson reaffirmed a “buy” rating and set a $90.00 price objective on shares of Modine Manufacturing in a research report on Tuesday, February 27th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $97.67.

Modine Manufacturing Price Performance

Shares of MOD stock traded down $1.14 during trading hours on Monday, reaching $95.60. The company’s stock had a trading volume of 453,917 shares, compared to its average volume of 977,704. Modine Manufacturing has a fifty-two week low of $19.41 and a fifty-two week high of $106.01. The firm’s 50 day simple moving average is $90.41 and its 200-day simple moving average is $68.33. The company has a quick ratio of 1.21, a current ratio of 1.93 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $4.99 billion, a price-to-earnings ratio of 22.55, a PEG ratio of 0.74 and a beta of 2.29.

Modine Manufacturing (NYSE:MOD) last released its quarterly earnings data on Tuesday, January 30th. The auto parts company reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.17. The business had revenue of $561.40 million for the quarter, compared to analyst estimates of $594.84 million. Modine Manufacturing had a return on equity of 25.28% and a net margin of 9.31%. Modine Manufacturing’s revenue was up .2% compared to the same quarter last year. During the same period last year, the firm posted $0.48 earnings per share. Sell-side analysts forecast that Modine Manufacturing will post 3.27 earnings per share for the current year.

Insider Activity at Modine Manufacturing

In related news, VP Brian Jon Agen sold 16,799 shares of the stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $95.64, for a total value of $1,606,656.36. Following the completion of the transaction, the vice president now owns 102,409 shares of the company’s stock, valued at approximately $9,794,396.76. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, VP Brian Jon Agen sold 16,799 shares of the business’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $95.64, for a total transaction of $1,606,656.36. Following the sale, the vice president now directly owns 102,409 shares in the company, valued at $9,794,396.76. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Christopher William Patterson sold 14,225 shares of the company’s stock in a transaction that occurred on 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 transaction, the director now directly owns 97,517 shares of the company’s stock, valued at approximately $8,831,139.52. The disclosure for this sale can be found here. In the last three months, insiders have sold 113,336 shares of company stock valued at $10,330,115. 2.86% of the stock is 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.