Handelsbanken Fonder AB Has $1.54 Million Position in Modine Manufacturing (NYSE:MOD)

Handelsbanken Fonder AB boosted its position in Modine Manufacturing (NYSE:MOD) by 25.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 13,300 shares of the auto parts company’s stock after buying an additional 2,700 shares during the quarter. Handelsbanken Fonder AB’s holdings in Modine Manufacturing were worth $1,542,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Principal Securities Inc. grew its stake in Modine Manufacturing by 97.8% in the fourth quarter. Principal Securities Inc. now owns 544 shares of the auto parts company’s stock valued at $63,000 after purchasing an additional 269 shares in the last quarter. Private Trust Co. NA grew its stake in Modine Manufacturing by 650.5% in the third quarter. Private Trust Co. NA now owns 773 shares of the auto parts company’s stock valued at $103,000 after purchasing an additional 670 shares in the last quarter. Farther Finance Advisors LLC grew its stake in Modine Manufacturing by 90.9% in the third quarter. Farther Finance Advisors LLC now owns 1,031 shares of the auto parts company’s stock valued at $137,000 after purchasing an additional 491 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in shares of Modine Manufacturing by 6.5% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,353 shares of the auto parts company’s stock worth $157,000 after acquiring an additional 82 shares during the period. Finally, KBC Group NV lifted its holdings in Modine Manufacturing by 47.8% during the 3rd quarter. KBC Group NV now owns 1,456 shares of the auto parts company’s stock worth $193,000 after purchasing an additional 471 shares during the last quarter. Institutional investors and hedge funds own 95.23% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Oppenheimer lifted their price target on Modine Manufacturing from $144.00 to $145.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st.

Modine Manufacturing Stock Performance

NYSE:MOD opened at $86.94 on Thursday. The stock has a market cap of $4.57 billion, a P/E ratio of 29.17, a PEG ratio of 0.71 and a beta of 2.31. The stock has a 50 day simple moving average of $110.65 and a 200 day simple moving average of $119.47. The company has a current ratio of 1.87, a quick ratio of 1.18 and a debt-to-equity ratio of 0.38. Modine Manufacturing has a 1-year low of $78.85 and a 1-year high of $146.84.

Modine Manufacturing (NYSE:MOD) last announced its quarterly earnings data on Tuesday, February 4th. The auto parts company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.13. Modine Manufacturing had a return on equity of 24.25% and a net margin of 6.31%. Research analysts anticipate that Modine Manufacturing will post 3.88 earnings per share for the current year.

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.