Modine Manufacturing Company $MOD Stake Increased by Reinhart Partners LLC.

Key Points

• Reinhart Partners increased its Modine Manufacturing stake by 76.4% in the third quarter, acquiring 424,534 additional shares to own 980,220 shares valued at approximately $183.5 million. Institutional investors collectively own 95.23% of the company.
• Analysts maintain a generally positive outlook, with a “Moderate Buy” consensus rating and an average price target of $309.50, although several firms recently lowered their targets.
• Modine’s latest quarterly results exceeded expectations, with earnings of $1.53 per share versus the $1.27 consensus estimate and revenue up 28% year over year to $874.1 million.

Reinhart Partners LLC. raised its holdings in Modine Manufacturing Company (NYSE:MOD - Free Report) by 76.4% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 980,220 shares of the auto parts company's stock after purchasing an additional 424,534 shares during the period. Modine Manufacturing makes up about 4.5% of Reinhart Partners LLC.'s portfolio, making the stock its 3rd largest holding. Reinhart Partners LLC. owned approximately 1.85% of Modine Manufacturing worth $183,497,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. V Square Quantitative Management LLC acquired a new stake in shares of Modine Manufacturing in the first quarter valued at approximately $25,000. Rakuten Securities Inc. acquired a new stake in Modine Manufacturing during the second quarter worth approximately $40,000. PenderFund Capital Management Ltd. acquired a new stake in Modine Manufacturing during the second quarter worth approximately $42,000. Vega Investment Solutions bought a new position in Modine Manufacturing during the 2nd quarter worth $52,000. Finally, TD Waterhouse Canada Inc. acquired a new position in Modine Manufacturing in the 2nd quarter valued at $55,000. Institutional investors and hedge funds own 95.23% of the company's stock.

Analyst Upgrades and Downgrades

MOD has been the subject of several recent analyst reports. Wall Street Zen cut shares of Modine Manufacturing from a "buy" rating to a "hold" rating in a research report on Saturday, July 25th. KeyCorp reissued an "overweight" rating and set a $280.00 target price on shares of Modine Manufacturing in a research note on Wednesday, September 2nd. Oppenheimer dropped their price objective on shares of Modine Manufacturing from $300.00 to $260.00 and set an "outperform" rating for the company in a research note on Friday, October 2nd. B. Riley Financial reissued a "buy" rating and set a $305.00 price target (down from $340.00) on shares of Modine Manufacturing in a research note on Thursday, July 30th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Modine Manufacturing in a report on Tuesday, August 25th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, Modine Manufacturing has an average rating of "Moderate Buy" and an average target price of $309.50.

Modine Manufacturing Trading Down 0.0%

Shares of Modine Manufacturing stock opened at $181.82 on Friday. The stock has a market capitalization of $9.66 billion, a PE ratio of 68.35, a price-to-earnings-growth ratio of 0.59 and a beta of 1.71. The stock has a 50 day moving average price of $190.28 and a two-hundred day moving average price of $230.10. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.22 and a current ratio of 2.04. Modine Manufacturing Company has a 52 week low of $111.18 and a 52 week high of $323.25.

Modine Manufacturing (NYSE:MOD - Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The auto parts company reported $1.53 earnings per share for the quarter, beating analysts' consensus estimates of $1.27 by $0.26. Modine Manufacturing had a net margin of 4.28% and a return on equity of 25.59%. The firm had revenue of $874.10 million for the quarter, compared to analyst estimates of $878.69 million. During the same period last year, the firm earned $0.95 earnings per share. The business's quarterly revenue was up 28.0% compared to the same quarter last year. As a group, equities analysts anticipate that Modine Manufacturing Company will post 7.68 earnings per share for the current fiscal year.

Modine Manufacturing Profile

Modine Manufacturing Company NYSE: MOD is a diversified thermal management company that develops and manufactures technologies for controlling and transferring heat. Founded in 1916 and headquartered in Racine, Wisconsin, Modine serves customers in the automotive, commercial and industrial, data center, HVAC, refrigeration, and other specialized markets.

The company's products and systems include heat exchangers, cooling modules, coils, radiators, condensers, fans, thermal management systems, and related components.

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