Capital Research Global Investors Boosts Holdings in Modine Manufacturing Company $MOD

Capital Research Global Investors grew its holdings in Modine Manufacturing Company (NYSE:MOD) by 13.8% in the 4th quarter, HoldingsChannel reports. The firm owned 1,478,224 shares of the auto parts company’s stock after purchasing an additional 179,617 shares during the quarter. Capital Research Global Investors’ holdings in Modine Manufacturing were worth $197,358,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Spire Wealth Management purchased a new position in shares of Modine Manufacturing in the fourth quarter valued at approximately $27,000. Sunbelt Securities Inc. purchased a new position in shares of Modine Manufacturing in the third quarter valued at approximately $39,000. Danske Bank A S purchased a new position in shares of Modine Manufacturing in the third quarter valued at approximately $43,000. Root Financial Partners LLC boosted its stake in shares of Modine Manufacturing by 140.5% in the fourth quarter. Root Financial Partners LLC now owns 368 shares of the auto parts company’s stock valued at $49,000 after purchasing an additional 215 shares during the period. Finally, AdvisorShares Investments LLC boosted its stake in shares of Modine Manufacturing by 154.0% in the third quarter. AdvisorShares Investments LLC now owns 475 shares of the auto parts company’s stock valued at $68,000 after purchasing an additional 288 shares during the period. Hedge funds and other institutional investors own 95.23% of the company’s stock.

Modine Manufacturing Stock Down 0.7%

Shares of NYSE:MOD opened at $274.70 on Tuesday. The firm’s 50 day moving average price is $255.68 and its 200 day moving average price is $201.94. The stock has a market cap of $14.51 billion, a price-to-earnings ratio of 122.63, a price-to-earnings-growth ratio of 0.89 and a beta of 1.65. Modine Manufacturing Company has a fifty-two week low of $86.48 and a fifty-two week high of $323.25. The company has a quick ratio of 1.25, a current ratio of 1.94 and a debt-to-equity ratio of 0.32.

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

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. UBS Group raised their price objective on shares of Modine Manufacturing to $310.00 and gave the company a “buy” rating in a research note on Wednesday, May 27th. Oppenheimer raised their target price on shares of Modine Manufacturing from $271.00 to $325.00 and gave the company an “outperform” rating in a report on Thursday, May 28th. Roth Mkm initiated coverage on shares of Modine Manufacturing in a report on Wednesday, February 18th. They issued a “buy” rating and a $263.00 target price on the stock. Zacks Research cut shares of Modine Manufacturing from a “strong-buy” rating to a “hold” rating in a report on Monday, April 13th. Finally, Glj Research reaffirmed a “buy” rating and issued a $428.00 target price on shares of Modine Manufacturing in a report on Monday, June 1st. Seven equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, Modine Manufacturing presently has an average rating of “Moderate Buy” and a consensus price target 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.