Capital International Investors Grows Position in Modine Manufacturing (NYSE:MOD)

Capital International Investors raised its position in Modine Manufacturing (NYSE:MOD) by 40.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,425,845 shares of the auto parts company’s stock after purchasing an additional 411,946 shares during the quarter. Capital International Investors owned 2.73% of Modine Manufacturing worth $135,726,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in 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 buying an additional 838,460 shares in the last quarter. Hennessy Advisors Inc. bought a new stake in shares of Modine Manufacturing during the fourth quarter valued at approximately $35,414,000. Axiom Investors LLC DE grew its stake in Modine Manufacturing by 286.0% in the fourth quarter. Axiom Investors LLC DE now owns 281,690 shares of the auto parts company’s stock worth $16,817,000 after purchasing an additional 208,715 shares in the last quarter. Capital World Investors bought a new position in Modine Manufacturing in the fourth quarter worth approximately $11,623,000. Finally, Verition Fund Management LLC grew its stake in Modine Manufacturing by 1,517.3% in the fourth quarter. Verition Fund Management LLC now owns 107,516 shares of the auto parts company’s stock worth $6,419,000 after purchasing an additional 100,868 shares in the last quarter. Institutional investors own 95.23% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on MOD shares. B. Riley reissued a “buy” rating and set a $125.00 price target on shares of Modine Manufacturing in a research 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 research note on Friday, May 24th. Finally, Oppenheimer raised their target price on shares of Modine Manufacturing from $105.00 to $110.00 and gave the company an “outperform” rating in a research report on Thursday, May 23rd.

Modine Manufacturing Stock Up 4.7 %

Shares of NYSE MOD traded up $4.65 during trading hours on Friday, hitting $104.15. 682,178 shares of the stock were exchanged, compared to its average volume of 849,313. Modine Manufacturing has a 12 month low of $35.12 and a 12 month high of $120.11. The firm has a fifty day moving average price of $101.15 and a 200-day moving average price of $90.69. 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 market cap of $5.46 billion, a PE ratio of 34.38, a PEG ratio of 0.79 and a beta of 2.27.

Modine Manufacturing (NYSE:MOD) last issued its quarterly 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). Modine Manufacturing had a return on equity of 24.69% and a net margin of 6.71%. The business had revenue of $603.50 million for the quarter, compared to analyst estimates of $605.44 million. During the same period in the previous year, the company posted $0.67 earnings per share. The business’s revenue for the quarter was down 2.4% on a year-over-year basis. On average, sell-side analysts expect that Modine Manufacturing will post 3.7 EPS for the current year.

Modine Manufacturing Company 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.