Modine Manufacturing (NYSE:MOD) Shares Acquired by Panagora Asset Management Inc.

Panagora Asset Management Inc. lifted its position in shares of Modine Manufacturing (NYSE:MOD) by 5.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 73,986 shares of the auto parts company’s stock after purchasing an additional 4,122 shares during the quarter. Panagora Asset Management Inc. owned 0.14% of Modine Manufacturing worth $7,413,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in MOD. Strs Ohio grew its stake in shares of Modine Manufacturing by 28.6% during the 4th quarter. Strs Ohio now owns 3,600 shares of the auto parts company’s stock worth $214,000 after purchasing an additional 800 shares during the period. New York State Common Retirement Fund grew its stake in Modine Manufacturing by 21.3% in the 4th quarter. New York State Common Retirement Fund now owns 59,992 shares of the auto parts company’s stock valued at $3,582,000 after acquiring an additional 10,545 shares during the period. Intrust Bank NA acquired a new stake in Modine Manufacturing in the 4th quarter valued at $282,000. AJOVista LLC acquired a new stake in Modine Manufacturing in the 4th quarter valued at $133,000. Finally, Lisanti Capital Growth LLC grew its stake in Modine Manufacturing by 91.9% in the 4th quarter. Lisanti Capital Growth LLC now owns 152,040 shares of the auto parts company’s stock valued at $9,077,000 after acquiring an additional 72,795 shares during the period. Institutional investors and hedge funds own 95.23% of the company’s stock.

Insider Transactions at Modine Manufacturing

In other news, Director Marsha C. Williams sold 34,400 shares of Modine Manufacturing stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $109.74, for a total transaction of $3,775,056.00. Following the transaction, the director now owns 144,038 shares in the company, valued at approximately $15,806,730.12. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 2.40% of the company’s stock.

Modine Manufacturing Trading Up 4.9 %

Shares of MOD opened at $121.55 on Friday. Modine Manufacturing has a 52-week low of $38.50 and a 52-week high of $123.92. The company has a quick ratio of 0.98, a current ratio of 1.80 and a debt-to-equity ratio of 0.51. The firm’s fifty day moving average is $106.77 and its two-hundred day moving average is $97.85. The stock has a market cap of $6.37 billion, a PE ratio of 40.12, a price-to-earnings-growth ratio of 0.86 and a beta of 2.27.

Modine Manufacturing (NYSE:MOD) last announced its earnings results on Tuesday, July 30th. The auto parts company reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.86 by $0.18. Modine Manufacturing had a net margin of 6.70% and a return on equity of 24.92%. The company had revenue of $661.50 million for the quarter, compared to analysts’ expectations of $633.55 million. During the same quarter in the previous year, the company posted $0.85 EPS. The firm’s quarterly revenue was up 6.3% on a year-over-year basis. Research analysts forecast that Modine Manufacturing will post 3.81 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on MOD shares. DA Davidson lifted their price target on shares of Modine Manufacturing from $120.00 to $140.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. B. Riley lifted their price target on shares of Modine Manufacturing from $125.00 to $140.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. William Blair started coverage on shares of Modine Manufacturing in a research note on Monday, July 29th. They issued an “outperform” rating on the stock. Finally, Oppenheimer lifted their price target on shares of Modine Manufacturing from $114.00 to $135.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $138.33.

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.