Modine Manufacturing Company $MOD Position Raised by Nicholas Investment Partners LP

Nicholas Investment Partners LP raised its stake in Modine Manufacturing Company (NYSE:MOD) by 5.9% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 70,057 shares of the auto parts company’s stock after buying an additional 3,873 shares during the quarter. Nicholas Investment Partners LP’s holdings in Modine Manufacturing were worth $9,353,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of MOD. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Modine Manufacturing by 26.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,223 shares of the auto parts company’s stock valued at $2,857,000 after purchasing an additional 7,831 shares during the period. California Public Employees Retirement System increased its holdings in shares of Modine Manufacturing by 8.3% during the second quarter. California Public Employees Retirement System now owns 68,702 shares of the auto parts company’s stock valued at $6,767,000 after purchasing an additional 5,244 shares during the period. State Street Corp increased its holdings in shares of Modine Manufacturing by 4.2% during the second quarter. State Street Corp now owns 1,309,488 shares of the auto parts company’s stock valued at $128,985,000 after purchasing an additional 53,351 shares during the period. Qube Research & Technologies Ltd increased its holdings in shares of Modine Manufacturing by 106.3% during the second quarter. Qube Research & Technologies Ltd now owns 161,319 shares of the auto parts company’s stock valued at $15,890,000 after purchasing an additional 83,105 shares during the period. Finally, Sei Investments Co. increased its holdings in shares of Modine Manufacturing by 70.8% during the second quarter. Sei Investments Co. now owns 309,653 shares of the auto parts company’s stock valued at $30,501,000 after purchasing an additional 128,348 shares during the period. 95.23% of the stock is owned by institutional investors and hedge funds.

Modine Manufacturing Price Performance

NYSE:MOD opened at $273.16 on Friday. The business’s 50-day moving average price is $260.23 and its 200 day moving average price is $205.14. The firm has a market cap of $14.43 billion, a P/E ratio of 121.95, a PEG ratio of 0.89 and a beta of 1.65. Modine Manufacturing Company has a 52-week low of $86.48 and a 52-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 released its earnings results on Tuesday, May 26th. The auto parts company reported $1.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.51 by $0.20. The firm had revenue of $954.40 million for the quarter, compared to analyst estimates of $920.67 million. Modine Manufacturing had a return on equity of 24.39% and a net margin of 3.82%.Modine Manufacturing’s revenue was up 47.5% compared to the same quarter last year. During the same period in the previous year, the company earned $1.12 earnings per share. As a group, sell-side analysts predict that Modine Manufacturing Company will post 7.73 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Wall Street Zen raised Modine Manufacturing from a “hold” rating to a “buy” rating in a report on Saturday, May 30th. Oppenheimer raised their price target on Modine Manufacturing from $271.00 to $325.00 and gave the company an “outperform” rating in a report on Thursday, May 28th. KeyCorp raised their price target on Modine Manufacturing from $250.00 to $370.00 and gave the company an “overweight” rating in a report on Wednesday, May 27th. Glj Research reaffirmed a “buy” rating and set a $428.00 target price on shares of Modine Manufacturing in a report on Monday, June 1st. Finally, Roth Mkm began coverage on Modine Manufacturing in a report on Wednesday, February 18th. They set a “buy” rating and a $263.00 target price on the stock. Seven investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus 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.