Legato Capital Management LLC Has $3.22 Million Position in Modine Manufacturing (NYSE:MOD)

Legato Capital Management LLC increased its holdings in shares of Modine Manufacturing (NYSE:MOD) by 18.6% during the 4th quarter, Holdings Channel reports. The institutional investor owned 27,811 shares of the auto parts company’s stock after acquiring an additional 4,363 shares during the quarter. Legato Capital Management LLC’s holdings in Modine Manufacturing were worth $3,224,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Wasatch Advisors LP acquired a new position in shares of Modine Manufacturing during the third quarter worth $91,193,000. FMR LLC raised its position in Modine Manufacturing by 14.0% during the 3rd quarter. FMR LLC now owns 4,417,927 shares of the auto parts company’s stock worth $586,657,000 after purchasing an additional 543,419 shares during the last quarter. Summit Partners Public Asset Management LLC acquired a new position in Modine Manufacturing during the 3rd quarter worth about $31,961,000. Fiera Capital Corp bought a new stake in shares of Modine Manufacturing in the 3rd quarter valued at about $21,195,000. Finally, New York State Common Retirement Fund increased its stake in shares of Modine Manufacturing by 63.4% in the third quarter. New York State Common Retirement Fund now owns 225,716 shares of the auto parts company’s stock valued at $29,973,000 after buying an additional 87,553 shares during the period. 95.23% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

Modine Manufacturing Stock Performance

Shares of MOD opened at $97.31 on Wednesday. The company has a current ratio of 1.87, a quick ratio of 1.09 and a debt-to-equity ratio of 0.38. The firm’s fifty day simple moving average is $120.64 and its two-hundred day simple moving average is $120.59. Modine Manufacturing has a 12 month low of $69.12 and a 12 month high of $146.84. The stock has a market capitalization of $5.12 billion, a P/E ratio of 32.66, a price-to-earnings-growth ratio of 0.75 and a beta of 2.31.

Modine Manufacturing (NYSE:MOD) last announced 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%. As a group, analysts predict that Modine Manufacturing will post 3.85 EPS 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.