Telemark Asset Management LLC Makes New $13.35 Million Investment in Modine Manufacturing Company $MOD

Telemark Asset Management LLC acquired a new position in Modine Manufacturing Company (NYSE:MOD) during the 4th quarter, HoldingsChannel reports. The fund acquired 100,000 shares of the auto parts company’s stock, valued at approximately $13,351,000. Modine Manufacturing accounts for approximately 1.3% of Telemark Asset Management LLC’s holdings, making the stock its 26th biggest position.

Several other hedge funds have also bought and sold shares of the stock. State of Wyoming boosted its position in Modine Manufacturing by 24.0% in the 4th quarter. State of Wyoming now owns 1,728 shares of the auto parts company’s stock worth $231,000 after purchasing an additional 335 shares in the last quarter. Cibc World Market Inc. acquired a new position in shares of Modine Manufacturing during the 4th quarter worth approximately $354,000. Root Financial Partners LLC raised its stake in shares of Modine Manufacturing by 140.5% during the 4th quarter. Root Financial Partners LLC now owns 368 shares of the auto parts company’s stock worth $49,000 after buying an additional 215 shares during the period. Arcadia Investment Management Corp MI raised its stake in shares of Modine Manufacturing by 394.3% during the 4th quarter. Arcadia Investment Management Corp MI now owns 8,353 shares of the auto parts company’s stock worth $1,115,000 after buying an additional 6,663 shares during the period. Finally, BNP Paribas Financial Markets raised its stake in shares of Modine Manufacturing by 2,964.8% during the 4th quarter. BNP Paribas Financial Markets now owns 332,072 shares of the auto parts company’s stock worth $44,335,000 after buying an additional 321,237 shares during the period. Hedge funds and other institutional investors own 95.23% of the company’s stock.

Modine Manufacturing Stock Down 8.4%

Shares of MOD opened at $275.95 on Friday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.25 and a current ratio of 1.94. Modine Manufacturing Company has a one year low of $86.48 and a one year high of $323.25. The stock has a market capitalization of $14.58 billion, a price-to-earnings ratio of 123.19, a PEG ratio of 0.89 and a beta of 1.65. The stock has a 50 day moving average price of $254.49 and a 200 day moving average price of $200.42.

Modine Manufacturing (NYSE:MOD) last issued its quarterly earnings results on Tuesday, May 26th. The auto parts company reported $1.71 EPS for the quarter, topping the consensus estimate of $1.51 by $0.20. Modine Manufacturing had a return on equity of 24.39% and a net margin of 3.82%.The firm had revenue of $954.40 million during the quarter, compared to analysts’ expectations of $920.67 million. During the same period in the previous year, the business earned $1.12 earnings per share. The firm’s revenue for the quarter was up 47.5% on a year-over-year basis. Equities research analysts forecast that Modine Manufacturing Company will post 7.73 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on MOD shares. KeyCorp boosted their price target on shares of Modine Manufacturing from $250.00 to $370.00 and gave the stock an “overweight” rating in a report on Wednesday, May 27th. Weiss Ratings raised shares of Modine Manufacturing from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, May 28th. B. Riley Financial boosted their price target on shares of Modine Manufacturing from $250.00 to $264.00 and gave the stock a “buy” rating in a report on Tuesday, May 26th. Glj Research reissued a “buy” rating and issued a $428.00 price target on shares of Modine Manufacturing in a report on Monday, June 1st. Finally, Roth Mkm started coverage on shares of Modine Manufacturing in a report on Wednesday, February 18th. They issued a “buy” rating and a $263.00 price target for the company. Seven analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $327.14.

Modine Manufacturing Company Profile

Modine Manufacturing Company (NYSE:MOD) is a global provider of thermal management solutions serving automotive, commercial transportation, heavy-duty off-highway, industrial, HVAC and refrigeration markets. The company designs, manufactures, tests and markets a broad array of heat-transfer products that manage temperature and energy efficiency for engines, power electronics and building climate control systems.

Its product portfolio includes heat exchangers, condensers, radiators, evaporators, charge air coolers, fan systems and associated controls.