Assenagon Asset Management S.A. Invests $460,000 in Modine Manufacturing Company (NYSE:MOD)

Assenagon Asset Management S.A. acquired a new stake in shares of Modine Manufacturing Company (NYSE:MOD - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 5,995 shares of the auto parts company's stock, valued at approximately $460,000.

A number of other institutional investors have also recently bought and sold shares of the company. Arizona State Retirement System lifted its stake in Modine Manufacturing by 0.8% in the fourth quarter. Arizona State Retirement System now owns 14,451 shares of the auto parts company's stock valued at $1,675,000 after buying an additional 118 shares in the last quarter. Envestnet Portfolio Solutions Inc. lifted its stake in Modine Manufacturing by 8.2% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 1,791 shares of the auto parts company's stock valued at $208,000 after buying an additional 136 shares in the last quarter. GAMMA Investing LLC lifted its stake in Modine Manufacturing by 63.1% in the first quarter. GAMMA Investing LLC now owns 367 shares of the auto parts company's stock valued at $28,000 after buying an additional 142 shares in the last quarter. Summit Investment Advisors Inc. lifted its stake in Modine Manufacturing by 2.8% in the fourth quarter. Summit Investment Advisors Inc. now owns 5,284 shares of the auto parts company's stock valued at $613,000 after buying an additional 146 shares in the last quarter. Finally, Signaturefd LLC lifted its stake in Modine Manufacturing by 6.0% in the fourth quarter. Signaturefd LLC now owns 2,786 shares of the auto parts company's stock valued at $323,000 after buying an additional 157 shares in the last quarter. Institutional investors and hedge funds own 95.23% of the company's stock.

Wall Street Analyst Weigh In

MOD has been the topic of a number of recent analyst reports. Wall Street Zen upgraded shares of Modine Manufacturing from a "hold" rating to a "buy" rating in a report on Saturday, June 7th. Oppenheimer boosted their target price on shares of Modine Manufacturing from $114.00 to $121.00 and gave the stock an "outperform" rating in a report on Thursday, May 22nd. DA Davidson restated a "buy" rating and set a $155.00 target price on shares of Modine Manufacturing in a report on Monday, March 17th. Finally, KeyCorp initiated coverage on shares of Modine Manufacturing in a report on Thursday, June 12th. They issued an "overweight" rating and a $125.00 price objective on the stock. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $135.25.

Modine Manufacturing Price Performance

Shares of MOD stock traded up $0.51 on Monday, reaching $97.23. The company had a trading volume of 549,019 shares, compared to its average volume of 944,419. The stock has a market capitalization of $5.09 billion, a PE ratio of 28.43, a price-to-earnings-growth ratio of 0.63 and a beta of 2.06. The company has a quick ratio of 1.15, a current ratio of 1.78 and a debt-to-equity ratio of 0.32. Modine Manufacturing Company has a one year low of $64.79 and a one year high of $146.84. The business's 50-day moving average is $90.09 and its 200 day moving average is $97.64.

Modine Manufacturing (NYSE:MOD - Get Free Report) last released its quarterly earnings data on Tuesday, May 20th. The auto parts company reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $633.13 million. During the same quarter in the prior year, the firm posted $0.77 earnings per share. The firm's revenue was up 7.2% compared to the same quarter last year. Equities research analysts forecast that Modine Manufacturing Company will post 3.88 EPS for the current fiscal year.

Modine Manufacturing announced that its board has authorized a share repurchase plan on Friday, March 7th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the auto parts company to reacquire up to 2.4% of its shares through open market purchases. Shares buyback plans are often a sign that the company's board believes its stock is undervalued.

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.