Park Avenue Securities LLC Invests $228,000 in Modine Manufacturing (NYSE:MOD)

Park Avenue Securities LLC purchased a new stake in shares of Modine Manufacturing (NYSE:MOD) in the 3rd quarter, Holdings Channel reports. The fund purchased 1,716 shares of the auto parts company’s stock, valued at approximately $228,000.

A number of other hedge funds also recently added to or reduced their stakes in MOD. Vanguard Group Inc. boosted its stake in shares of Modine Manufacturing by 27.3% in the 1st quarter. Vanguard Group Inc. now owns 3,909,016 shares of the auto parts company’s stock worth $372,099,000 after buying an additional 838,460 shares during the last quarter. Capital International Investors raised its holdings in Modine Manufacturing by 40.6% during the first quarter. Capital International Investors now owns 1,425,845 shares of the auto parts company’s stock valued at $135,726,000 after acquiring an additional 411,946 shares during the period. Driehaus Capital Management LLC boosted its stake in shares of Modine Manufacturing by 32.8% in the second quarter. Driehaus Capital Management LLC now owns 1,101,932 shares of the auto parts company’s stock worth $110,403,000 after acquiring an additional 272,174 shares during the period. Hennessy Advisors Inc. grew its position in shares of Modine Manufacturing by 20.4% during the first quarter. Hennessy Advisors Inc. now owns 714,400 shares of the auto parts company’s stock worth $68,004,000 after purchasing an additional 121,200 shares in the last quarter. Finally, Fred Alger Management LLC raised its stake in Modine Manufacturing by 5.1% during the 2nd quarter. Fred Alger Management LLC now owns 369,840 shares of the auto parts company’s stock valued at $37,054,000 after purchasing an additional 17,889 shares during the period. 95.23% of the stock is currently owned by hedge funds and other institutional investors.

Modine Manufacturing Stock Down 0.8 %

Shares of NYSE MOD opened at $133.11 on Tuesday. Modine Manufacturing has a 52-week low of $38.50 and a 52-week high of $138.99. The firm has a market capitalization of $6.97 billion, a price-to-earnings ratio of 43.93, a PEG ratio of 1.02 and a beta of 2.22. The stock has a 50 day moving average price of $117.00 and a 200 day moving average price of $105.44. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.11 and a current ratio of 1.80.

Modine Manufacturing (NYSE:MOD) last released its quarterly earnings data on Tuesday, July 30th. The auto parts company reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $633.55 million. During the same period in the prior year, the firm earned $0.85 earnings per share. The firm’s revenue for the quarter was up 6.3% compared to the same quarter last year. Sell-side analysts expect that Modine Manufacturing will post 3.86 earnings per share for the current year.

Analyst Ratings Changes

MOD has been the subject of a number of research reports. B. Riley upped their target price on shares of Modine Manufacturing from $125.00 to $140.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. DA Davidson upped their price objective on Modine Manufacturing from $140.00 to $155.00 and gave the company a “buy” rating in a research report on Tuesday, September 24th. Oppenheimer increased their price target on Modine Manufacturing from $135.00 to $144.00 and gave the company an “outperform” rating in a report on Monday. Finally, William Blair began coverage on shares of Modine Manufacturing in a research note on Monday, July 29th. They set an “outperform” rating for the company. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $146.33.

Insider Transactions at Modine Manufacturing

In other Modine Manufacturing news, Director Marsha C. Williams sold 34,400 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $109.74, for a total value of $3,775,056.00. Following the completion of the sale, the director now directly owns 144,038 shares in the company, valued at $15,806,730.12. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 2.40% of the company’s stock.

About Modine Manufacturing

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.