HighTower Advisors LLC Raises Stock Position in Modine Manufacturing (NYSE:MOD)

HighTower Advisors LLC boosted its position in shares of Modine Manufacturing (NYSE:MOD) by 21.5% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,474 shares of the auto parts company’s stock after acquiring an additional 1,147 shares during the period. HighTower Advisors LLC’s holdings in Modine Manufacturing were worth $861,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of MOD. Farther Finance Advisors LLC lifted its holdings in shares of Modine Manufacturing by 90.9% during the 3rd 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 during the last quarter. Harbor Capital Advisors Inc. raised its stake in Modine Manufacturing by 58.0% in the third quarter. Harbor Capital Advisors Inc. now owns 69,839 shares of the auto parts company’s stock valued at $9,274,000 after buying an additional 25,648 shares during the last quarter. Fred Alger Management LLC boosted its holdings in Modine Manufacturing by 5.1% in the second 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 in the last quarter. Victory Capital Management Inc. grew its stake in shares of Modine Manufacturing by 20.1% during the third quarter. Victory Capital Management Inc. now owns 157,200 shares of the auto parts company’s stock worth $20,875,000 after acquiring an additional 26,348 shares during the last quarter. Finally, Raymond James & Associates raised its position in shares of Modine Manufacturing by 15.8% in the 3rd quarter. Raymond James & Associates now owns 30,812 shares of the auto parts company’s stock valued at $4,092,000 after purchasing an additional 4,206 shares during the last quarter. 95.23% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have weighed in on MOD. DA Davidson boosted their target price on shares of Modine Manufacturing from $140.00 to $155.00 and gave the stock a “buy” rating in a research report on Tuesday, September 24th. Oppenheimer boosted their price objective on shares of 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 issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $146.67.

Modine Manufacturing Price Performance

Shares of NYSE:MOD opened at $127.70 on Wednesday. Modine Manufacturing has a twelve month low of $55.87 and a twelve month high of $146.84. The company has a current ratio of 1.77, a quick ratio of 1.09 and a debt-to-equity ratio of 0.41. The company has a market cap of $6.70 billion, a PE ratio of 41.87, a price-to-earnings-growth ratio of 1.01 and a beta of 2.31. The company’s 50 day moving average is $130.29 and its 200 day moving average is $116.29.

Modine Manufacturing (NYSE:MOD) last released its quarterly earnings data on Tuesday, October 29th. The auto parts company reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.05. The firm had revenue of $658.00 million for the quarter, compared to analyst estimates of $646.86 million. Modine Manufacturing had a net margin of 6.59% and a return on equity of 23.96%. The business’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.89 earnings per share. On average, sell-side analysts forecast that Modine Manufacturing will post 3.83 EPS 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.