Bridge City Capital LLC Buys 12,100 Shares of Modine Manufacturing (NYSE:MOD)

Bridge City Capital LLC raised its stake in shares of Modine Manufacturing (NYSE:MOD - Free Report) by 26.2% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 58,261 shares of the auto parts company's stock after purchasing an additional 12,100 shares during the period. Modine Manufacturing accounts for approximately 1.3% of Bridge City Capital LLC's holdings, making the stock its 25th biggest position. Bridge City Capital LLC owned 0.11% of Modine Manufacturing worth $4,472,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in MOD. Janney Montgomery Scott LLC boosted its position in shares of Modine Manufacturing by 39.9% during the 4th quarter. Janney Montgomery Scott LLC now owns 3,842 shares of the auto parts company's stock valued at $445,000 after acquiring an additional 1,095 shares during the last quarter. Entropy Technologies LP purchased a new stake in Modine Manufacturing during the fourth quarter valued at $452,000. Kestra Private Wealth Services LLC lifted its position in Modine Manufacturing by 9.3% during the fourth quarter. Kestra Private Wealth Services LLC now owns 5,226 shares of the auto parts company's stock valued at $606,000 after purchasing an additional 444 shares during the last quarter. Legato Capital Management LLC lifted its position in Modine Manufacturing by 18.6% during the fourth quarter. Legato Capital Management LLC now owns 27,811 shares of the auto parts company's stock valued at $3,224,000 after purchasing an additional 4,363 shares during the last quarter. Finally, Rhumbline Advisers grew its stake in shares of Modine Manufacturing by 2.0% in the 4th quarter. Rhumbline Advisers now owns 79,664 shares of the auto parts company's stock worth $9,235,000 after buying an additional 1,539 shares in the last quarter. Hedge funds and other institutional investors own 95.23% of the company's stock.

Wall Street Analyst Weigh In

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

Modine Manufacturing Trading Up 2.8%

Modine Manufacturing stock traded up $2.67 during midday trading on Thursday, reaching $96.82. The stock had a trading volume of 924,002 shares, compared to its average volume of 943,753. The company has a quick ratio of 1.18, a current ratio of 1.87 and a debt-to-equity ratio of 0.38. The firm has a market cap of $5.07 billion, a price-to-earnings ratio of 32.49, a price-to-earnings-growth ratio of 0.71 and a beta of 2.06. Modine Manufacturing has a 52-week low of $64.79 and a 52-week high of $146.84. The company has a fifty day moving average of $87.45 and a 200 day moving average of $100.19.

Modine Manufacturing (NYSE:MOD - Get Free Report) last issued its quarterly earnings results on Tuesday, May 20th. The auto parts company reported $1.12 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.16. Modine Manufacturing had a return on equity of 24.25% and a net margin of 6.31%. The firm had revenue of $647.20 million for the quarter, compared to the consensus estimate of $633.13 million. During the same period in the prior year, the business posted $0.77 earnings per share. The company's revenue for the quarter was up 7.2% on a year-over-year basis. On average, analysts anticipate that Modine Manufacturing will post 3.88 earnings per share for the current fiscal year.

Modine Manufacturing announced that its Board of Directors has initiated a share buyback plan on Friday, March 7th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the auto parts company to purchase up to 2.4% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's management believes its shares are undervalued.

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.