Modine Manufacturing (NYSE:MOD) Shares Purchased by Alberta Investment Management Corp

Alberta Investment Management Corp boosted its holdings in Modine Manufacturing (NYSE:MOD) by 27.3% during the 4th quarter, Holdings Channel reports. The fund owned 58,437 shares of the auto parts company’s stock after acquiring an additional 12,536 shares during the quarter. Alberta Investment Management Corp’s holdings in Modine Manufacturing were worth $6,775,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. Principal Securities Inc. increased its position in Modine Manufacturing by 97.8% in the 4th quarter. Principal Securities Inc. now owns 544 shares of the auto parts company’s stock valued at $63,000 after acquiring an additional 269 shares during the period. Private Trust Co. NA increased its position in shares of Modine Manufacturing by 650.5% during the 3rd quarter. Private Trust Co. NA now owns 773 shares of the auto parts company’s stock valued at $103,000 after purchasing an additional 670 shares during the period. Farther Finance Advisors LLC increased its position in shares of Modine Manufacturing by 90.9% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,031 shares of the auto parts company’s stock valued at $137,000 after purchasing an additional 491 shares during the period. Nisa Investment Advisors LLC increased its position in shares of Modine Manufacturing by 6.5% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,353 shares of the auto parts company’s stock valued at $157,000 after purchasing an additional 82 shares during the period. Finally, KBC Group NV increased its position in shares of Modine Manufacturing by 47.8% during the 3rd quarter. KBC Group NV now owns 1,456 shares of the auto parts company’s stock valued at $193,000 after purchasing an additional 471 shares during the period. 95.23% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Oppenheimer lifted their price target on Modine Manufacturing from $144.00 to $145.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st.

Modine Manufacturing Stock Down 3.9 %

Shares of MOD stock opened at $88.80 on Thursday. The stock has a market cap of $4.67 billion, a PE ratio of 29.80, a price-to-earnings-growth ratio of 0.70 and a beta of 2.31. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.18 and a current ratio of 1.87. The business’s fifty day moving average is $115.58 and its 200-day moving average is $120.10. Modine Manufacturing has a 1 year low of $75.23 and a 1 year high of $146.84.

Modine Manufacturing (NYSE:MOD) last released its quarterly earnings data on Tuesday, February 4th. The auto parts company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.13. Modine Manufacturing had a return on equity of 24.25% and a net margin of 6.31%. Equities analysts expect that Modine Manufacturing will post 3.88 earnings per share for the current fiscal 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.