Intech Investment Management LLC Invests $2.26 Million in Modine Manufacturing (NYSE:MOD)

Intech Investment Management LLC acquired a new stake in shares of Modine Manufacturing (NYSE:MOD) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 17,016 shares of the auto parts company’s stock, valued at approximately $2,260,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in shares of Modine Manufacturing by 27.3% during the first quarter. Vanguard Group Inc. now owns 3,909,016 shares of the auto parts company’s stock worth $372,099,000 after buying an additional 838,460 shares in the last quarter. Acadian Asset Management LLC acquired a new position in Modine Manufacturing in the 1st quarter valued at $37,000. Price T Rowe Associates Inc. MD raised its holdings in Modine Manufacturing by 5.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 38,383 shares of the auto parts company’s stock valued at $3,654,000 after acquiring an additional 1,901 shares during the last quarter. Castleark Management LLC lifted its stake in shares of Modine Manufacturing by 4.8% during the 1st quarter. Castleark Management LLC now owns 69,580 shares of the auto parts company’s stock worth $6,623,000 after purchasing an additional 3,170 shares during the period. Finally, Virtu Financial LLC acquired a new stake in shares of Modine Manufacturing during the first quarter worth $1,739,000. Hedge funds and other institutional investors own 95.23% of the company’s stock.

Analyst Ratings Changes

MOD has been the subject of several analyst reports. B. Riley increased their target price on Modine Manufacturing from $125.00 to $140.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Oppenheimer upped their price objective on shares of Modine Manufacturing from $144.00 to $145.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. DA Davidson raised 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. Finally, William Blair assumed coverage on shares of Modine Manufacturing in a research report on Monday, July 29th. They set an “outperform” rating for the company. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $146.67.

Modine Manufacturing Stock Performance

Modine Manufacturing stock opened at $143.22 on Monday. The company has a market cap of $7.52 billion, a price-to-earnings ratio of 46.96, a price-to-earnings-growth ratio of 1.08 and a beta of 2.25. Modine Manufacturing has a 12 month low of $48.88 and a 12 month high of $144.02. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.77 and a quick ratio of 1.09. The stock’s 50-day moving average is $128.14 and its 200-day moving average is $112.40.

Modine Manufacturing (NYSE:MOD) last posted its quarterly earnings results on Tuesday, October 29th. The auto parts company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.92 by $0.05. Modine Manufacturing had a net margin of 6.59% and a return on equity of 23.96%. The firm had revenue of $658.00 million for the quarter, compared to analyst estimates of $646.86 million. During the same quarter last year, the firm posted $0.89 earnings per share. Modine Manufacturing’s revenue for the quarter was up 6.0% compared to the same quarter last year. Equities analysts anticipate that Modine Manufacturing will post 3.83 earnings per share for the current year.

About Modine Manufacturing

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.