Massachusetts Financial Services Co. MA boosted its position in Modine Manufacturing Company (NYSE:MOD - Free Report) by 154.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 360,016 shares of the auto parts company's stock after acquiring an additional 218,254 shares during the period. Massachusetts Financial Services Co. MA owned 0.68% of Modine Manufacturing worth $27,631,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in Modine Manufacturing by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 5,058,967 shares of the auto parts company's stock worth $586,486,000 after acquiring an additional 70,581 shares in the last quarter. Invesco Ltd. boosted its holdings in Modine Manufacturing by 1.0% in the fourth quarter. Invesco Ltd. now owns 2,012,533 shares of the auto parts company's stock worth $233,313,000 after acquiring an additional 20,085 shares in the last quarter. Driehaus Capital Management LLC lifted its holdings in shares of Modine Manufacturing by 2.8% in the fourth quarter. Driehaus Capital Management LLC now owns 1,439,980 shares of the auto parts company's stock valued at $166,937,000 after purchasing an additional 39,193 shares in the last quarter. Wasatch Advisors LP lifted its holdings in shares of Modine Manufacturing by 108.0% in the fourth quarter. Wasatch Advisors LP now owns 1,428,415 shares of the auto parts company's stock valued at $165,596,000 after purchasing an additional 741,667 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. lifted its holdings in shares of Modine Manufacturing by 27.8% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,207,181 shares of the auto parts company's stock valued at $139,949,000 after purchasing an additional 262,936 shares in the last quarter. Institutional investors own 95.23% of the company's stock.
Modine Manufacturing Stock Performance
Shares of MOD traded up $0.38 during mid-day trading on Friday, hitting $97.85. The stock had a trading volume of 1,180,684 shares, compared to its average volume of 968,620. The firm has a market cap of $5.13 billion, a P/E ratio of 28.61, a PEG ratio of 0.64 and a beta of 2.04. The business has a fifty day moving average price of $96.50 and a 200-day moving average price of $94.26. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.78 and a quick ratio of 1.15. Modine Manufacturing Company has a 52 week low of $64.79 and a 52 week high of $146.84.
Modine Manufacturing (NYSE:MOD - Get Free Report) last issued its earnings results 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. The firm had revenue of $647.20 million for the quarter, compared to analyst estimates of $633.13 million. Modine Manufacturing had a return on equity of 25.31% and a net margin of 7.12%. The business's revenue was up 7.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.77 earnings per share. On average, equities research analysts expect that Modine Manufacturing Company will post 3.88 EPS for the current year.
Wall Street Analysts Forecast Growth
A number of research analysts have recently weighed in on the company. KeyCorp assumed coverage on Modine Manufacturing in a report on Thursday, June 12th. They issued an "overweight" rating and a $125.00 target price on the stock. Oppenheimer raised their target price on Modine Manufacturing from $121.00 to $122.00 and gave the company an "outperform" rating in a report on Tuesday, July 1st. Finally, Wall Street Zen upgraded Modine Manufacturing from a "hold" rating to a "buy" rating in a report on Saturday, June 7th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Modine Manufacturing has a consensus rating of "Buy" and a consensus target price of $135.50.
Read Our Latest Stock Analysis on MOD
About Modine Manufacturing
(
Free Report)
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.
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