Modine Manufacturing (NYSE:MOD) Shares Acquired by Stifel Financial Corp

Stifel Financial Corp boosted its holdings in shares of Modine Manufacturing (NYSE:MOD) by 4.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 22,234 shares of the auto parts company’s stock after acquiring an additional 964 shares during the period. Stifel Financial Corp’s holdings in Modine Manufacturing were worth $2,952,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Quantinno Capital Management LP purchased a new position in shares of Modine Manufacturing during the 3rd quarter worth approximately $218,000. Polar Asset Management Partners Inc. acquired a new stake in Modine Manufacturing during the 3rd quarter valued at $3,174,000. HighTower Advisors LLC increased its position in Modine Manufacturing by 21.5% during the third quarter. HighTower Advisors LLC now owns 6,474 shares of the auto parts company’s stock worth $861,000 after buying an additional 1,147 shares in the last quarter. Concentric Capital Strategies LP raised its holdings in shares of Modine Manufacturing by 826.3% in the third quarter. Concentric Capital Strategies LP now owns 64,286 shares of the auto parts company’s stock worth $8,537,000 after acquiring an additional 57,346 shares during the last quarter. Finally, Atom Investors LP purchased a new stake in shares of Modine Manufacturing in the third quarter valued at $210,000. Hedge funds and other institutional investors own 95.23% of the company’s stock.

Modine Manufacturing Trading Down 5.1 %

MOD stock opened at $127.70 on Wednesday. The business has a fifty day simple moving average of $130.29 and a 200-day simple moving average of $116.29. Modine Manufacturing has a 52 week low of $55.87 and a 52 week high of $146.84. The company has a quick ratio of 1.09, a current ratio of 1.77 and a debt-to-equity ratio of 0.41. The company has a market cap of $6.70 billion, a price-to-earnings ratio of 41.87, a PEG ratio of 1.01 and a beta of 2.31.

Modine Manufacturing (NYSE:MOD) last issued its earnings results on Tuesday, October 29th. The auto parts company reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.05. Modine Manufacturing had a return on equity of 23.96% and a net margin of 6.59%. The business had revenue of $658.00 million during the quarter, compared to analysts’ expectations of $646.86 million. During the same quarter in the previous year, the business earned $0.89 EPS. The company’s revenue for the quarter was up 6.0% on a year-over-year basis. On average, equities research analysts expect that Modine Manufacturing will post 3.83 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on MOD. DA Davidson raised their price objective on Modine Manufacturing from $140.00 to $155.00 and gave the stock a “buy” rating in a report on Tuesday, September 24th. Oppenheimer lifted their price target on Modine Manufacturing from $144.00 to $145.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $146.67.

Modine Manufacturing Profile

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.