Impax Asset Management Group plc Makes New Investment in Modine Manufacturing Company (NYSE:MOD)

Impax Asset Management Group plc purchased a new stake in shares of Modine Manufacturing Company (NYSE:MOD - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 60,000 shares of the auto parts company's stock, valued at approximately $4,605,000. Impax Asset Management Group plc owned approximately 0.11% of Modine Manufacturing at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Steward Partners Investment Advisory LLC raised its position in shares of Modine Manufacturing by 362.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,310 shares of the auto parts company's stock valued at $268,000 after buying an additional 1,810 shares during the last quarter. Victory Capital Management Inc. grew its stake in Modine Manufacturing by 22.0% during the 4th quarter. Victory Capital Management Inc. now owns 191,838 shares of the auto parts company's stock valued at $22,240,000 after acquiring an additional 34,638 shares in the last quarter. Proficio Capital Partners LLC acquired a new stake in Modine Manufacturing in the 4th quarter valued at about $1,962,000. Arizona State Retirement System lifted its stake in Modine Manufacturing by 0.8% in the 4th quarter. Arizona State Retirement System now owns 14,451 shares of the auto parts company's stock worth $1,675,000 after purchasing an additional 118 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of Modine Manufacturing during the 4th quarter worth approximately $19,719,000. 95.23% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MOD has been the subject of several recent research reports. Oppenheimer increased their price target on Modine Manufacturing from $121.00 to $122.00 and gave the company an "outperform" rating in a report on Tuesday, July 1st. Wall Street Zen raised Modine Manufacturing from a "hold" rating to a "buy" rating in a research note on Saturday, June 7th. KeyCorp began coverage on shares of Modine Manufacturing in a research report on Thursday, June 12th. They set an "overweight" rating and a $125.00 price target on the stock. Finally, DA Davidson restated a "buy" rating and set a $155.00 price objective on shares of Modine Manufacturing in a research report on Monday, March 17th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Modine Manufacturing presently has a consensus rating of "Buy" and a consensus price target of $135.50.

Modine Manufacturing Stock Down 4.3%

Shares of NYSE MOD traded down $4.52 during midday trading on Monday, hitting $100.02. The company's stock had a trading volume of 700,663 shares, compared to its average volume of 945,836. The firm has a market capitalization of $5.24 billion, a price-to-earnings ratio of 29.25, a price-to-earnings-growth ratio of 0.68 and a beta of 2.04. Modine Manufacturing Company has a 1 year low of $64.79 and a 1 year high of $146.84. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.78 and a quick ratio of 1.15. The business's fifty day simple moving average is $95.09 and its two-hundred day simple moving average is $95.69.

Modine Manufacturing (NYSE:MOD - Get Free Report) last posted its quarterly earnings results on Tuesday, May 20th. The auto parts company reported $1.12 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.96 by $0.16. Modine Manufacturing had a return on equity of 25.31% and a net margin of 7.12%. The company had revenue of $647.20 million for the quarter, compared to analyst estimates of $633.13 million. During the same quarter last year, the company earned $0.77 EPS. Modine Manufacturing's revenue for the quarter was up 7.2% compared to the same quarter last year. On average, equities analysts predict that Modine Manufacturing Company will post 3.88 EPS for the current year.

About Modine Manufacturing

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.