Modine Manufacturing (NYSE:MOD) Stake Boosted by Victory Capital Management Inc.

Victory Capital Management Inc. grew its stake in shares of Modine Manufacturing (NYSE:MOD) by 20.1% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 157,200 shares of the auto parts company’s stock after acquiring an additional 26,348 shares during the period. Victory Capital Management Inc.’s holdings in Modine Manufacturing were worth $20,875,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Vanguard Group Inc. grew its holdings in shares of Modine Manufacturing by 27.3% during the 1st quarter. Vanguard Group Inc. now owns 3,909,016 shares of the auto parts company’s stock valued at $372,099,000 after acquiring an additional 838,460 shares in the last quarter. Capital International Investors grew its holdings in shares of Modine Manufacturing by 40.6% during the 1st quarter. Capital International Investors now owns 1,425,845 shares of the auto parts company’s stock valued at $135,726,000 after acquiring an additional 411,946 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of Modine Manufacturing by 2.4% during the 3rd quarter. Principal Financial Group Inc. now owns 1,152,735 shares of the auto parts company’s stock valued at $153,072,000 after acquiring an additional 26,527 shares in the last quarter. Driehaus Capital Management LLC grew its holdings in shares of Modine Manufacturing by 32.8% during the 2nd quarter. Driehaus Capital Management LLC now owns 1,101,932 shares of the auto parts company’s stock valued at $110,403,000 after acquiring an additional 272,174 shares in the last quarter. Finally, Fred Alger Management LLC grew its holdings in shares of Modine Manufacturing by 5.1% during the 2nd quarter. Fred Alger Management LLC now owns 369,840 shares of the auto parts company’s stock valued at $37,054,000 after acquiring an additional 17,889 shares in the last quarter. 95.23% of the stock is currently owned by hedge funds and other institutional investors.

Modine Manufacturing Stock Up 2.3 %

MOD stock opened at $126.11 on Tuesday. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.77 and a quick ratio of 1.09. Modine Manufacturing has a 52-week low of $48.88 and a 52-week high of $141.72. The company has a 50-day moving average of $125.56 and a two-hundred day moving average of $111.35. The stock has a market capitalization of $6.62 billion, a price-to-earnings ratio of 41.35, a price-to-earnings-growth ratio of 0.95 and a beta of 2.25.

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

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Oppenheimer upped their price objective on shares of Modine Manufacturing from $144.00 to $145.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. DA Davidson upped their price objective on shares of Modine Manufacturing from $140.00 to $155.00 and gave the stock a “buy” rating in a report on Tuesday, September 24th. William Blair assumed coverage on shares of Modine Manufacturing in a report on Monday, July 29th. They issued an “outperform” rating for the company. Finally, B. Riley upped their price objective on shares of Modine Manufacturing from $125.00 to $140.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $146.67.

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.