30,126 Modine Manufacturing Company $MOD Shares Purchased by Van Berkom & Associates Inc.

Key Points

• Van Berkom & Associates increased its Modine stake by 13.8%, buying 30,126 shares in the third quarter to hold 249,114 shares worth about $46.6 million. Institutional investors collectively own 95.23% of the company.
• Modine reported quarterly revenue of $994.4 million, up 34.6% year over year and above analyst expectations, but earnings of $1.35 per share fell short of the $1.47 consensus estimate.
• Analysts’ consensus rating is “Moderate Buy,” with an average price target of $264.89; individual recommendations ranged from strong sell to buy, and some firms cut their targets.

Van Berkom & Associates Inc. boosted its position in Modine Manufacturing Company (NYSE:MOD - Free Report) by 13.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 249,114 shares of the auto parts company's stock after buying an additional 30,126 shares during the quarter. Van Berkom & Associates Inc. owned 0.47% of Modine Manufacturing worth $46,634,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Ethic Inc. lifted its stake in shares of Modine Manufacturing by 56.5% in the third quarter. Ethic Inc. now owns 4,487 shares of the auto parts company's stock worth $840,000 after acquiring an additional 1,619 shares in the last quarter. Pictet Asset Management Holding SA boosted its holdings in Modine Manufacturing by 247.7% in the third quarter. Pictet Asset Management Holding SA now owns 441,705 shares of the auto parts company's stock valued at $82,687,000 after purchasing an additional 314,668 shares during the last quarter. CenterBook Partners LP boosted its holdings in Modine Manufacturing by 2,128.5% in the third quarter. CenterBook Partners LP now owns 106,992 shares of the auto parts company's stock valued at $20,029,000 after purchasing an additional 102,191 shares during the last quarter. Integrity Alliance LLC. acquired a new stake in Modine Manufacturing during the 3rd quarter valued at approximately $279,000. Finally, Bridge City Capital LLC grew its stake in Modine Manufacturing by 14.1% during the 3rd quarter. Bridge City Capital LLC now owns 39,036 shares of the auto parts company's stock valued at $7,308,000 after purchasing an additional 4,833 shares in the last quarter. 95.23% of the stock is owned by hedge funds and other institutional investors.

Modine Manufacturing Stock Performance

Shares of MOD stock opened at $106.13 on Tuesday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.22 and a current ratio of 2.04. Modine Manufacturing Company has a one year low of $87.84 and a one year high of $323.25. The company's 50-day simple moving average is $164.81 and its 200-day simple moving average is $213.97. The stock has a market capitalization of $5.64 billion, a price-to-earnings ratio of 44.40, a PEG ratio of 0.35 and a beta of 1.86.

Modine Manufacturing (NYSE:MOD - Get Free Report) last posted its quarterly earnings results on Tuesday, November 3rd. The auto parts company reported $1.35 EPS for the quarter, missing analysts' consensus estimates of $1.47 by ($0.12). Modine Manufacturing had a return on equity of 26.28% and a net margin of 3.58%. The firm had revenue of $994.40 million during the quarter, compared to analyst estimates of $978.31 million. During the same quarter last year, the business posted $0.83 earnings per share. The firm's revenue for the quarter was up 34.6% on a year-over-year basis. Equities analysts anticipate that Modine Manufacturing Company will post 6.55 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

MOD has been the topic of several analyst reports. B. Riley Financial dropped their price objective on Modine Manufacturing from $305.00 to $285.00 and set a "buy" rating on the stock in a report on Thursday, October 29th. Cantor Fitzgerald reduced their target price on Modine Manufacturing from $275.00 to $178.00 and set an "overweight" rating for the company in a research note on Thursday, November 5th. DA Davidson reissued a "buy" rating and set a $330.00 price target on shares of Modine Manufacturing in a research report on Tuesday, October 27th. Robert W. Baird initiated coverage on shares of Modine Manufacturing in a research note on Tuesday, October 6th. They issued an "outperform" rating and a $300.00 price target for the company. Finally, Zacks Research lowered shares of Modine Manufacturing from a "hold" rating to a "strong sell" rating in a research note on Friday, October 16th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Modine Manufacturing presently has a consensus rating of "Moderate Buy" and an average price target of $264.89.

About Modine Manufacturing

Modine Manufacturing Company is a global provider of thermal management solutions, serving markets that need to control heating, cooling and temperature-related performance. Founded in 1916 by Arthur B. Modine, the company is headquartered in Racine, Wisconsin.

Through its Climate Solutions business, Modine supplies heating, ventilation and air conditioning equipment for commercial and industrial buildings, as well as cooling systems for data centers. Its offerings include chillers, heat exchangers and other equipment designed to manage indoor environments and remove heat from technology infrastructure.

Modine's Performance Technologies business develops thermal management products for vehicles and other equipment.

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