Mirae Asset Global Investments Co. Ltd. Invests $3.56 Million in Modine Manufacturing Company $MOD

Key Points

• Mirae Asset Global Investments bought 26,660 shares of Modine (NYSE:MOD) valued at about $3.56 million, and institutional investors own roughly 95.23% of the company.
• Analysts are broadly positive with a consensus rating of "Moderate Buy" and a $234.33 target; several firms raised price targets (to $240–$290) while Zacks trimmed its rating to Hold.
• Modine recently beat estimates—EPS $1.19 vs. $0.99 and revenue $805M (up 30.5% year-over-year)—and the stock trades near its 52‑week high (~$247.55) with a high trailing P/E (~137.5).

Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Modine Manufacturing Company (NYSE:MOD - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 26,660 shares of the auto parts company's stock, valued at approximately $3,559,000. Mirae Asset Global Investments Co. Ltd. owned 0.05% of Modine Manufacturing as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in MOD. Capital Research Global Investors acquired a new position in shares of Modine Manufacturing during the 3rd quarter worth $184,610,000. Invesco Ltd. grew its stake in shares of Modine Manufacturing by 133.2% during the 3rd quarter. Invesco Ltd. now owns 598,140 shares of the auto parts company's stock worth $85,032,000 after purchasing an additional 341,595 shares during the period. Adage Capital Partners GP L.L.C. acquired a new position in shares of Modine Manufacturing during the 2nd quarter worth $28,322,000. Amundi acquired a new position in shares of Modine Manufacturing during the 3rd quarter worth $42,185,000. Finally, Millennium Management LLC boosted its position in shares of Modine Manufacturing by 320.0% in the 3rd quarter. Millennium Management LLC now owns 286,234 shares of the auto parts company's stock worth $40,691,000 after buying an additional 218,075 shares in the last quarter. 95.23% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently commented on MOD. Oppenheimer boosted their price objective on shares of Modine Manufacturing from $220.00 to $240.00 and gave the stock an "outperform" rating in a research report on Friday, February 6th. Zacks Research lowered shares of Modine Manufacturing from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 13th. DA Davidson reiterated a "buy" rating and issued a $265.00 price objective on shares of Modine Manufacturing in a research report on Tuesday, March 31st. Glj Research began coverage on shares of Modine Manufacturing in a research report on Monday, March 30th. They issued a "buy" rating and a $290.00 price objective on the stock. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Modine Manufacturing in a research report on Monday, December 29th. Six analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $234.33.

Modine Manufacturing Price Performance

Modine Manufacturing stock opened at $247.55 on Wednesday. Modine Manufacturing Company has a 52 week low of $70.47 and a 52 week high of $260.01. The company has a quick ratio of 1.28, a current ratio of 2.19 and a debt-to-equity ratio of 0.51. The firm's 50-day simple moving average is $219.48 and its 200 day simple moving average is $175.26. The firm has a market capitalization of $13.05 billion, a PE ratio of 137.53, a P/E/G ratio of 1.02 and a beta of 1.68.

Modine Manufacturing (NYSE:MOD - Get Free Report) last released its quarterly earnings data on Wednesday, February 4th. The auto parts company reported $1.19 EPS for the quarter, topping the consensus estimate of $0.99 by $0.20. The business had revenue of $805.00 million for the quarter, compared to analyst estimates of $763.54 million. Modine Manufacturing had a net margin of 3.40% and a return on equity of 22.99%. The business's revenue for the quarter was up 30.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.92 EPS. On average, equities research analysts predict that Modine Manufacturing Company will post 4.82 EPS for the current fiscal year.

Insider Transactions at Modine Manufacturing

In other Modine Manufacturing news, Director Suresh V. Garimella sold 1,100 shares of the company's stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $184.07, for a total value of $202,477.00. Following the transaction, the director directly owned 79,856 shares in the company, valued at approximately $14,699,093.92. This represents a 1.36% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.48% of the company's stock.

About Modine Manufacturing

Modine Manufacturing Company NYSE: MOD is a global provider of thermal management solutions serving automotive, commercial transportation, heavy-duty off-highway, industrial, HVAC and refrigeration markets. The company designs, manufactures, tests and markets a broad array of heat-transfer products that manage temperature and energy efficiency for engines, power electronics and building climate control systems.

Its product portfolio includes heat exchangers, condensers, radiators, evaporators, charge air coolers, fan systems and associated controls.

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