17,455 Shares in Modine Manufacturing Company $MOD Acquired by Platinum Investment Management Ltd.

Platinum Investment Management Ltd. purchased a new position in shares of Modine Manufacturing Company (NYSE:MOD) during the fourth quarter, Holdings Channel reports. The firm purchased 17,455 shares of the auto parts company’s stock, valued at approximately $2,330,000.

Other large investors have also added to or reduced their stakes in the company. Spire Wealth Management acquired a new stake in Modine Manufacturing during the fourth quarter worth approximately $27,000. Sunbelt Securities Inc. acquired a new stake in Modine Manufacturing during the third quarter worth approximately $39,000. Danske Bank A S bought a new stake in Modine Manufacturing during the third quarter worth $43,000. Root Financial Partners LLC lifted its stake in Modine Manufacturing by 140.5% during the fourth quarter. Root Financial Partners LLC now owns 368 shares of the auto parts company’s stock worth $49,000 after purchasing an additional 215 shares during the last quarter. Finally, Maseco LLP bought a new stake in Modine Manufacturing during the fourth quarter worth $69,000. Institutional investors and hedge funds own 95.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Glj Research restated a “buy” rating and set a $428.00 target price on shares of Modine Manufacturing in a research note on Monday, June 1st. DA Davidson upped their target price on 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 cut Modine Manufacturing from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 13th. Oppenheimer upped their target price on Modine Manufacturing from $271.00 to $325.00 and gave the stock an “outperform” rating in a research note on Thursday, May 28th. Finally, B. Riley Financial upped their target price on Modine Manufacturing from $250.00 to $264.00 and gave the stock a “buy” rating in a research note on Tuesday, May 26th. Seven analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, Modine Manufacturing has a consensus rating of “Moderate Buy” and an average price target of $327.14.

Modine Manufacturing Stock Up 0.6%

NYSE MOD opened at $273.16 on Friday. Modine Manufacturing Company has a fifty-two week low of $86.48 and a fifty-two week high of $323.25. The stock has a market capitalization of $14.43 billion, a PE ratio of 121.95, a PEG ratio of 0.88 and a beta of 1.65. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.94 and a quick ratio of 1.25. The business has a fifty day moving average price of $260.23 and a two-hundred day moving average price of $205.14.

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

Modine Manufacturing 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.