Vanguard Group Inc. Grows Stock Position in Modine Manufacturing (NYSE:MOD)

Vanguard Group Inc. boosted its stake in shares of Modine Manufacturing (NYSE:MOD) by 0.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,070,556 shares of the auto parts company’s stock after purchasing an additional 13,663 shares during the quarter. Vanguard Group Inc. owned approximately 5.88% of Modine Manufacturing worth $183,312,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of MOD. Principal Securities Inc. purchased a new position in Modine Manufacturing in the fourth quarter valued at $29,000. Nisa Investment Advisors LLC boosted its holdings in Modine Manufacturing by 51.8% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,172 shares of the auto parts company’s stock valued at $70,000 after purchasing an additional 400 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of Modine Manufacturing by 49.9% in the 3rd quarter. PNC Financial Services Group Inc. now owns 2,206 shares of the auto parts company’s stock valued at $101,000 after buying an additional 734 shares in the last quarter. AJOVista LLC acquired a new position in shares of Modine Manufacturing in the 4th quarter valued at $133,000. Finally, Invst LLC purchased a new position in shares of Modine Manufacturing in the 4th quarter valued at $181,000. Institutional investors and hedge funds own 95.23% of the company’s stock.

Wall Street Analyst Weigh In

MOD has been the subject of several research reports. DA Davidson boosted their target price on Modine Manufacturing from $110.00 to $120.00 and gave the company a “buy” rating in a report on Friday, May 24th. B. Riley reiterated a “buy” rating and set a $125.00 price target on shares of Modine Manufacturing in a research note on Thursday, June 27th. Finally, Oppenheimer lifted their price objective on shares of Modine Manufacturing from $105.00 to $110.00 and gave the company an “outperform” rating in a research note on Thursday, May 23rd.

Modine Manufacturing Stock Performance

NYSE:MOD opened at $107.92 on Thursday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.64 and a quick ratio of 0.98. The firm has a market cap of $5.65 billion, a price-to-earnings ratio of 35.62, a price-to-earnings-growth ratio of 0.80 and a beta of 2.27. The firm’s fifty day moving average price is $98.18 and its 200 day moving average price is $84.94. Modine Manufacturing has a 1-year low of $32.17 and a 1-year high of $109.53.

Modine Manufacturing (NYSE:MOD) last issued its quarterly earnings results on Tuesday, May 21st. The auto parts company reported $0.77 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.02). The firm had revenue of $603.50 million for the quarter, compared to analyst estimates of $605.44 million. Modine Manufacturing had a return on equity of 24.69% and a net margin of 6.71%. The company’s revenue was down 2.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.67 earnings per share. On average, sell-side analysts expect that Modine Manufacturing will post 3.7 EPS for the current year.

Modine Manufacturing 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.