Renaissance Group LLC Takes Position in Modine Manufacturing Company $MOD

Renaissance Group LLC purchased a new position in shares of Modine Manufacturing Company (NYSE:MOD) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 52,226 shares of the auto parts company’s stock, valued at approximately $6,973,000. Renaissance Group LLC owned about 0.10% of Modine Manufacturing as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Spire Wealth Management bought a new position in Modine Manufacturing during the fourth quarter valued at $27,000. Sunbelt Securities Inc. bought a new stake in shares of Modine Manufacturing in the third quarter valued at $39,000. Danske Bank A S bought a new stake in shares of Modine Manufacturing in the third quarter valued at $43,000. Root Financial Partners LLC lifted its position 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 valued at $49,000 after buying an additional 215 shares during the last quarter. Finally, Maseco LLP bought a new position in shares of Modine Manufacturing during the 4th quarter worth $69,000. Institutional investors own 95.23% of the company’s stock.

Modine Manufacturing Trading Down 7.1%

Shares of Modine Manufacturing stock opened at $258.51 on Thursday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.94 and a quick ratio of 1.25. Modine Manufacturing Company has a 1 year low of $86.48 and a 1 year high of $323.25. The firm has a market cap of $13.65 billion, a PE ratio of 115.40, a PEG ratio of 0.90 and a beta of 1.65. The company has a 50 day simple moving average of $258.10 and a two-hundred day simple moving average of $203.75.

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 analysts’ consensus estimates of $1.51 by $0.20. Modine Manufacturing had a net margin of 3.82% and a return on equity of 24.39%. The firm had revenue of $954.40 million for the quarter, compared to analyst estimates of $920.67 million. During the same quarter in the prior year, the firm earned $1.12 EPS. The business’s revenue for the quarter was up 47.5% compared to the same quarter last year. Analysts expect that Modine Manufacturing Company will post 7.73 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently weighed in on MOD. Glj Research reissued a “buy” rating and issued a $428.00 price objective on shares of Modine Manufacturing in a report on Monday, June 1st. KeyCorp increased their target price on shares of Modine Manufacturing from $250.00 to $370.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 27th. DA Davidson lifted their target price on shares of Modine Manufacturing from $265.00 to $330.00 and gave the stock a “buy” rating in a research note on Friday, May 29th. Zacks Research lowered shares of Modine Manufacturing from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 13th. Finally, UBS Group upped their price target on shares of Modine Manufacturing to $310.00 and gave the company a “buy” rating in a research note on Wednesday, May 27th. Seven investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, Modine Manufacturing presently has a consensus rating of “Moderate Buy” and an average target price of $327.14.

About Modine Manufacturing

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.