Assetmark Inc. Has $1.18 Million Holdings in Modine Manufacturing (NYSE:MOD)

Assetmark Inc. grew its holdings in shares of Modine Manufacturing (NYSE:MOD) by 176.5% in the 3rd quarter, Holdings Channel reports. The fund owned 8,894 shares of the auto parts company’s stock after buying an additional 5,677 shares during the period. Assetmark Inc.’s holdings in Modine Manufacturing were worth $1,181,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in Modine Manufacturing by 27.3% during the 1st quarter. Vanguard Group Inc. now owns 3,909,016 shares of the auto parts company’s stock worth $372,099,000 after purchasing an additional 838,460 shares in the last quarter. Capital International Investors increased its holdings in shares of 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 worth $135,726,000 after buying an additional 411,946 shares in the last quarter. Principal Financial Group Inc. lifted its stake in shares of Modine Manufacturing by 2.4% in the 3rd quarter. Principal Financial Group Inc. now owns 1,152,735 shares of the auto parts company’s stock valued at $153,072,000 after acquiring an additional 26,527 shares during the last quarter. Driehaus Capital Management LLC boosted its holdings in shares of Modine Manufacturing by 32.8% during the 2nd quarter. Driehaus Capital Management LLC now owns 1,101,932 shares of the auto parts company’s stock valued at $110,403,000 after acquiring an additional 272,174 shares in the last quarter. Finally, Fred Alger Management LLC grew its position 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 worth $37,054,000 after acquiring an additional 17,889 shares during the last quarter. Institutional investors own 95.23% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on MOD. B. Riley lifted their price target on Modine Manufacturing from $125.00 to $140.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Oppenheimer boosted their target price on shares of Modine Manufacturing from $144.00 to $145.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. DA Davidson raised their price target on shares of Modine Manufacturing from $140.00 to $155.00 and gave the company a “buy” rating in a research note on Tuesday, September 24th. Finally, 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. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $146.67.

Modine Manufacturing Trading Down 5.7 %

MOD opened at $120.07 on Friday. The stock has a market cap of $6.30 billion, a PE ratio of 41.75, a price-to-earnings-growth ratio of 0.96 and a beta of 2.25. The company has a quick ratio of 1.09, a current ratio of 1.77 and a debt-to-equity ratio of 0.41. Modine Manufacturing has a twelve month low of $48.10 and a twelve month high of $141.72. The company has a fifty day moving average of $124.17 and a 200-day moving average of $110.61.

Modine Manufacturing (NYSE:MOD) last posted its quarterly earnings data on Tuesday, October 29th. The auto parts company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.05. Modine Manufacturing had a return on equity of 23.96% and a net margin of 6.59%. The firm had revenue of $658.00 million during the quarter, compared to analyst estimates of $646.86 million. During the same period last year, the company posted $0.89 EPS. The business’s quarterly revenue was up 6.0% on a year-over-year basis. On average, sell-side 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.