Van ECK Associates Corp Has $3.51 Million Stake in Modine Manufacturing (NYSE:MOD)

Van ECK Associates Corp increased its stake in shares of Modine Manufacturing (NYSE:MOD) by 40.0% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 27,377 shares of the auto parts company’s stock after buying an additional 7,824 shares during the quarter. Van ECK Associates Corp’s holdings in Modine Manufacturing were worth $3,512,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Acadian Asset Management LLC purchased a new stake in Modine Manufacturing in the 1st quarter worth approximately $37,000. Opal Wealth Advisors LLC purchased a new stake in shares of Modine Manufacturing during the second quarter worth $51,000. West Oak Capital LLC boosted its position in Modine Manufacturing by 300.0% during the second quarter. West Oak Capital LLC now owns 600 shares of the auto parts company’s stock valued at $60,000 after purchasing an additional 450 shares during the last quarter. Fifth Third Bancorp purchased a new position in Modine Manufacturing in the second quarter valued at about $64,000. Finally, DekaBank Deutsche Girozentrale purchased a new position in Modine Manufacturing in the second quarter valued at about $68,000. 95.23% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Modine Manufacturing news, Director Marsha C. Williams sold 34,400 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $109.74, for a total transaction 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 represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.40% of the company’s stock.

Analysts Set New Price Targets

MOD has been the subject of several research reports. DA Davidson lifted their price target on Modine Manufacturing from $140.00 to $155.00 and gave the company a “buy” rating in a report on Tuesday, September 24th. William Blair initiated coverage on shares of Modine Manufacturing in a research note on Monday, July 29th. They issued an “outperform” rating for the company. Oppenheimer increased their price target on shares of Modine Manufacturing from $144.00 to $145.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. Finally, B. Riley raised their price target on shares of Modine Manufacturing from $125.00 to $140.00 and gave the company a “buy” rating in a report on Thursday, August 1st. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $146.67.

Modine Manufacturing Stock Up 0.6 %

Shares of MOD stock opened at $128.12 on Friday. The stock’s 50 day simple moving average is $123.21 and its 200 day simple moving average is $109.74. Modine Manufacturing has a twelve month low of $42.65 and a twelve month high of $141.72. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.09 and a current ratio of 1.77. The company has a market capitalization of $6.73 billion, a price-to-earnings ratio of 42.01, a PEG ratio of 0.96 and a beta of 2.25.

Modine Manufacturing (NYSE:MOD) last released its quarterly earnings results on Tuesday, October 29th. The auto parts company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.05. Modine Manufacturing had a net margin of 6.59% and a return on equity of 23.96%. The company had revenue of $658.00 million for the quarter, compared to analyst estimates of $646.86 million. During the same quarter last year, the firm posted $0.89 earnings per share. The company’s quarterly revenue was up 6.0% compared to the same quarter last year. As a group, research analysts predict that Modine Manufacturing will post 3.83 EPS for the current year.

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.