Modine Manufacturing (NYSE:MOD) is Mesirow Financial Investment Management Inc.’s 2nd Largest Position

Mesirow Financial Investment Management Inc. decreased its position in Modine Manufacturing (NYSE:MOD) by 23.1% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 5,453 shares of the auto parts company’s stock after selling 1,638 shares during the period. Modine Manufacturing accounts for 2.6% of Mesirow Financial Investment Management Inc.’s holdings, making the stock its 2nd largest position. Mesirow Financial Investment Management Inc.’s holdings in Modine Manufacturing were worth $519,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Principal Securities Inc. acquired a new position in shares of Modine Manufacturing in the 4th quarter worth approximately $29,000. Nisa Investment Advisors LLC lifted its holdings in shares of Modine Manufacturing by 51.8% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,172 shares of the auto parts company’s stock worth $70,000 after acquiring an additional 400 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of Modine Manufacturing by 49.9% in the 3rd quarter. PNC Financial Services Group Inc. now owns 2,206 shares of the auto parts company’s stock worth $101,000 after acquiring an additional 734 shares during the last quarter. Banque Cantonale Vaudoise acquired a new position in shares of Modine Manufacturing in the 1st quarter worth approximately $101,000. Finally, AJOVista LLC acquired a new position in shares of Modine Manufacturing in the 4th quarter worth approximately $133,000. Hedge funds and other institutional investors own 95.23% of the company’s stock.

Modine Manufacturing Stock Up 2.5 %

Modine Manufacturing stock traded up $2.60 during mid-day trading on Wednesday, reaching $107.97. 463,785 shares of the company’s stock were exchanged, compared to its average volume of 948,557. The company has a market cap of $5.65 billion, a P/E ratio of 35.79, a P/E/G ratio of 0.80 and a beta of 2.27. Modine Manufacturing has a twelve month low of $32.17 and a twelve month high of $109.53. The company has a quick ratio of 0.98, a current ratio of 1.64 and a debt-to-equity ratio of 0.53. The company has a fifty day moving average of $98.18 and a 200-day moving average of $84.94.

Modine Manufacturing (NYSE:MOD) last released its earnings results on Tuesday, May 21st. The auto parts company reported $0.77 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.02). The business had revenue of $603.50 million for the quarter, compared to analyst estimates of $605.44 million. Modine Manufacturing had a return on equity of 24.69% and a net margin of 6.71%. Modine Manufacturing’s quarterly revenue was down 2.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.67 earnings per share. Sell-side analysts expect that Modine Manufacturing will post 3.7 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently commented on MOD. B. Riley restated a “buy” rating and issued a $125.00 price objective on shares of Modine Manufacturing in a report on Thursday, June 27th. DA Davidson upped their price objective on shares of Modine Manufacturing from $110.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, May 24th. Finally, Oppenheimer increased their target price on shares of Modine Manufacturing from $105.00 to $110.00 and gave the stock an “outperform” rating in a report on Thursday, May 23rd.

Modine Manufacturing Profile

Modine Manufacturing Company provides engineered heat transfer systems and heat transfer components for use in on- and off-highway original equipment manufacturer (OEM) vehicular applications. It operates through Climate Solutions and Performance Technologies segments. The company offers gas-fired, hydronic, electric, and oil-fired unit heaters; indoor and outdoor duct furnaces; infrared units; perimeter heating products, such as commercial fin-tube radiation, cabinet unit heaters, and convectors; roof-mounted direct- and indirect-fired makeup air units; unit ventilators; single packaged vertical units; precision air conditioning units for data center applications; air handler units; fan walls; chillers; ceiling cassettes; hybrid fan coils; and condensers and condensing units.