Diversified Trust Co Acquires Shares of 3,085 Modine Manufacturing Company (NYSE:MOD)

Diversified Trust Co bought a new stake in shares of Modine Manufacturing Company (NYSE:MOD - Free Report) during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 3,085 shares of the auto parts company's stock, valued at approximately $237,000.

Other large investors have also recently bought and sold shares of the company. William Blair Investment Management LLC grew its holdings in Modine Manufacturing by 7.7% during the 4th quarter. William Blair Investment Management LLC now owns 247,400 shares of the auto parts company's stock valued at $28,681,000 after buying an additional 17,599 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Modine Manufacturing in the fourth quarter valued at $19,719,000. Bessemer Group Inc. increased its stake in Modine Manufacturing by 9,728.6% in the first quarter. Bessemer Group Inc. now owns 3,440 shares of the auto parts company's stock valued at $264,000 after purchasing an additional 3,405 shares during the last quarter. Janney Montgomery Scott LLC lifted its position in Modine Manufacturing by 159.7% during the first quarter. Janney Montgomery Scott LLC now owns 9,976 shares of the auto parts company's stock worth $766,000 after buying an additional 6,134 shares during the period. Finally, Wells Fargo & Company MN lifted its position in Modine Manufacturing by 3.6% during the fourth quarter. Wells Fargo & Company MN now owns 322,315 shares of the auto parts company's stock worth $37,366,000 after buying an additional 11,350 shares during the period. Institutional investors and hedge funds own 95.23% of the company's stock.

Modine Manufacturing Trading Up 2.2%

Shares of MOD traded up $2.25 during trading hours on Friday, hitting $104.47. The stock had a trading volume of 578,701 shares, compared to its average volume of 946,820. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.15 and a current ratio of 1.78. The firm has a market cap of $5.47 billion, a P/E ratio of 30.55, a P/E/G ratio of 0.68 and a beta of 2.04. The company's fifty day simple moving average is $95.09 and its 200 day simple moving average is $95.99. Modine Manufacturing Company has a 12-month low of $64.79 and a 12-month high of $146.84.

Modine Manufacturing (NYSE:MOD - Get Free Report) last released its quarterly earnings data on Tuesday, May 20th. The auto parts company reported $1.12 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 for the quarter, compared to analyst estimates of $633.13 million. During the same period last year, the company 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 declared that its board has approved a stock repurchase plan on Friday, March 7th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the auto parts company to repurchase up to 2.4% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on MOD. Wall Street Zen raised Modine Manufacturing from a "hold" rating to a "buy" rating in a research note on Saturday, June 7th. DA Davidson reissued a "buy" rating and issued a $155.00 price target on shares of Modine Manufacturing in a research note on Monday, March 17th. Oppenheimer raised their price target on Modine Manufacturing from $121.00 to $122.00 and gave the stock an "outperform" rating in a research note on Tuesday. Finally, KeyCorp began coverage on Modine Manufacturing in a research report on Thursday, June 12th. They issued an "overweight" rating and a $125.00 target price on the stock. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $135.50.

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.