Oppenheimer & Co. Inc. Boosts Holdings in Modine Manufacturing (NYSE:MOD)

Oppenheimer & Co. Inc. lifted its position in Modine Manufacturing (NYSE:MOD) by 67.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 41,069 shares of the auto parts company’s stock after acquiring an additional 16,539 shares during the period. Oppenheimer & Co. Inc. owned 0.08% of Modine Manufacturing worth $5,454,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MOD. SG Americas Securities LLC boosted its position in shares of Modine Manufacturing by 311.1% during the 2nd quarter. SG Americas Securities LLC now owns 32,128 shares of the auto parts company’s stock valued at $3,219,000 after acquiring an additional 24,312 shares during the last quarter. Farther Finance Advisors LLC increased its stake in Modine Manufacturing by 90.9% during the third quarter. Farther Finance Advisors LLC now owns 1,031 shares of the auto parts company’s stock worth $137,000 after acquiring an additional 491 shares during the last quarter. Harbor Capital Advisors Inc. raised its position in Modine Manufacturing by 58.0% in the third quarter. Harbor Capital Advisors Inc. now owns 69,839 shares of the auto parts company’s stock valued at $9,274,000 after purchasing an additional 25,648 shares during the period. Fred Alger Management LLC lifted its stake in shares of Modine Manufacturing by 5.1% in the 2nd quarter. Fred Alger Management LLC now owns 369,840 shares of the auto parts company’s stock valued at $37,054,000 after purchasing an additional 17,889 shares during the last quarter. Finally, Janney Montgomery Scott LLC purchased a new position in shares of Modine Manufacturing during the 1st quarter worth $833,000. Institutional investors and hedge funds own 95.23% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on MOD. Oppenheimer boosted their price objective on shares of Modine Manufacturing from $144.00 to $145.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. B. Riley boosted their price target on shares of Modine Manufacturing from $125.00 to $140.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. William Blair began coverage on shares of Modine Manufacturing in a report on Monday, July 29th. They issued an “outperform” rating on the stock. Finally, DA Davidson lifted their target price on shares of Modine Manufacturing from $140.00 to $155.00 and gave the company a “buy” rating in a report on Tuesday, September 24th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $146.67.

Modine Manufacturing Stock Performance

NYSE MOD opened at $120.07 on Friday. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.77 and a quick ratio of 1.09. The company has a market cap of $6.30 billion, a P/E ratio of 39.37, a P/E/G ratio of 0.98 and a beta of 2.25. The stock has a 50-day moving average of $124.17 and a two-hundred day moving average of $110.61. Modine Manufacturing has a 1-year low of $48.10 and a 1-year high of $141.72.

Modine Manufacturing (NYSE:MOD) last announced its quarterly earnings data on Tuesday, October 29th. The auto parts company reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.92 by $0.05. The firm had revenue of $658.00 million during the quarter, compared to analysts’ expectations of $646.86 million. Modine Manufacturing had a net margin of 6.59% and a return on equity of 23.96%. The business’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.89 earnings per share. As a group, analysts anticipate that Modine Manufacturing will post 3.83 EPS for the current year.

Modine Manufacturing 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.