New York State Common Retirement Fund Has $28.75 Million Stock Position in Modine Manufacturing (NYSE:MOD)

New York State Common Retirement Fund lifted its stake in Modine Manufacturing (NYSE:MOD) by 9.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 247,975 shares of the auto parts company’s stock after acquiring an additional 22,259 shares during the period. New York State Common Retirement Fund’s holdings in Modine Manufacturing were worth $28,748,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Nisa Investment Advisors LLC lifted its position in Modine Manufacturing by 6.5% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,353 shares of the auto parts company’s stock worth $157,000 after purchasing an additional 82 shares during the period. Truist Financial Corp lifted its position in Modine Manufacturing by 0.5% in the fourth quarter. Truist Financial Corp now owns 34,267 shares of the auto parts company’s stock worth $3,973,000 after purchasing an additional 159 shares during the period. Principal Securities Inc. lifted its position in Modine Manufacturing by 97.8% in the fourth quarter. Principal Securities Inc. now owns 544 shares of the auto parts company’s stock worth $63,000 after purchasing an additional 269 shares during the period. Legend Financial Advisors Inc. lifted its position in Modine Manufacturing by 2.9% in the fourth quarter. Legend Financial Advisors Inc. now owns 9,929 shares of the auto parts company’s stock worth $1,151,000 after purchasing an additional 279 shares during the period. Finally, Inspire Investing LLC lifted its position in Modine Manufacturing by 10.4% in the fourth quarter. Inspire Investing LLC now owns 3,442 shares of the auto parts company’s stock worth $399,000 after purchasing an additional 325 shares during the period. Institutional investors and hedge funds own 95.23% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Modine Manufacturing Stock Up 5.6 %

Shares of MOD stock opened at $93.92 on Friday. The stock has a market cap of $4.94 billion, a P/E ratio of 31.52, a price-to-earnings-growth ratio of 0.70 and a beta of 2.31. Modine Manufacturing has a one year low of $75.30 and a one year high of $146.84. The stock has a fifty day moving average price of $114.73 and a 200 day moving average price of $119.89. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.87 and a quick ratio of 1.18.

Modine Manufacturing (NYSE:MOD) last issued its quarterly earnings data on Tuesday, February 4th. The auto parts company reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.79 by $0.13. Modine Manufacturing had a return on equity of 24.25% and a net margin of 6.31%. Analysts predict that Modine Manufacturing will post 3.89 earnings per share for the current year.

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.