Modine Manufacturing (NYSE:MOD) Shares Acquired by Fmr LLC

Fmr LLC grew its stake in Modine Manufacturing (NYSE:MOD) by 14.0% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 4,417,927 shares of the auto parts company’s stock after purchasing an additional 543,419 shares during the period. Fmr LLC owned about 0.08% of Modine Manufacturing worth $586,657,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of MOD. Driehaus Capital Management LLC lifted its holdings in shares of Modine Manufacturing by 32.8% in 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 buying an additional 272,174 shares during the period. Emerald Advisers LLC purchased a new position in shares of Modine Manufacturing in the 2nd quarter valued at about $26,064,000. Public Employees Retirement Association of Colorado increased its stake in shares of Modine Manufacturing by 4,215.8% in the 2nd quarter. Public Employees Retirement Association of Colorado now owns 260,547 shares of the auto parts company’s stock valued at $26,104,000 after purchasing an additional 254,510 shares in the last quarter. F M Investments LLC purchased a new position in shares of Modine Manufacturing in the 2nd quarter valued at about $22,600,000. Finally, Emerald Mutual Fund Advisers Trust purchased a new position in shares of Modine Manufacturing in the 2nd quarter valued at about $21,340,000. Institutional investors and hedge funds own 95.23% of the company’s stock.

Modine Manufacturing Price Performance

NYSE:MOD opened at $133.37 on Friday. Modine Manufacturing has a 12 month low of $48.88 and a 12 month high of $146.84. The stock has a 50 day moving average of $129.55 and a two-hundred day moving average of $113.15. The company has a current ratio of 1.77, a quick ratio of 1.09 and a debt-to-equity ratio of 0.41. The firm has a market cap of $7.00 billion, a P/E ratio of 43.73, a price-to-earnings-growth ratio of 1.06 and a beta of 2.25.

Modine Manufacturing (NYSE:MOD) last posted its quarterly earnings data on Tuesday, October 29th. The auto parts company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.92 by $0.05. Modine Manufacturing had a return on equity of 23.96% and a net margin of 6.59%. The company had revenue of $658.00 million during the quarter, compared to analyst estimates of $646.86 million. During the same period in the previous year, the business earned $0.89 EPS. Modine Manufacturing’s quarterly revenue was up 6.0% on a year-over-year basis. On average, analysts expect that Modine Manufacturing will post 3.83 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on MOD. B. Riley lifted their price target on Modine Manufacturing from $125.00 to $140.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Oppenheimer lifted their price target on Modine Manufacturing from $144.00 to $145.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Finally, DA Davidson lifted their price target on Modine Manufacturing from $140.00 to $155.00 and gave the company a “buy” rating in a research note on Tuesday, September 24th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $146.67.

Modine Manufacturing Company Profile

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.