GW&K Investment Management LLC Boosts Stock Position in Modine Manufacturing Company (NYSE:MOD)

GW&K Investment Management LLC grew its stake in shares of Modine Manufacturing Company (NYSE:MOD - Free Report) by 2.2% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 147,677 shares of the auto parts company's stock after buying an additional 3,187 shares during the period. GW&K Investment Management LLC owned 0.28% of Modine Manufacturing worth $11,334,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. GAMMA Investing LLC raised its holdings in shares of Modine Manufacturing by 63.1% during the 1st quarter. GAMMA Investing LLC now owns 367 shares of the auto parts company's stock worth $28,000 after acquiring an additional 142 shares in the last quarter. Versant Capital Management Inc raised its stake in Modine Manufacturing by 245.9% during the first quarter. Versant Capital Management Inc now owns 422 shares of the auto parts company's stock valued at $32,000 after purchasing an additional 300 shares in the last quarter. Central Pacific Bank Trust Division bought a new position in Modine Manufacturing during the first quarter valued at $46,000. First Horizon Advisors Inc. raised its position in shares of Modine Manufacturing by 442.4% during the 1st quarter. First Horizon Advisors Inc. now owns 640 shares of the auto parts company's stock valued at $49,000 after buying an additional 522 shares in the last quarter. Finally, IFP Advisors Inc lifted its holdings in shares of Modine Manufacturing by 14.2% in the 1st quarter. IFP Advisors Inc now owns 911 shares of the auto parts company's stock valued at $70,000 after acquiring an additional 113 shares during the last quarter. 95.23% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on MOD shares. Wall Street Zen upgraded Modine Manufacturing from a "hold" rating to a "buy" rating in a report on Saturday, June 7th. Oppenheimer boosted their price objective on shares of Modine Manufacturing from $121.00 to $122.00 and gave the company an "outperform" rating in a research report on Tuesday, July 1st. Finally, KeyCorp initiated coverage on shares of Modine Manufacturing in a research note on Thursday, June 12th. They issued an "overweight" rating and a $125.00 target price on the stock. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $135.50.

Modine Manufacturing Trading Up 5.4%

Shares of NYSE MOD traded up $5.30 during midday trading on Friday, hitting $103.17. The company's stock had a trading volume of 856,220 shares, compared to its average volume of 1,184,425. Modine Manufacturing Company has a 12-month low of $64.79 and a 12-month high of $146.84. The company has a current ratio of 1.78, a quick ratio of 1.15 and a debt-to-equity ratio of 0.32. The firm has a market cap of $5.41 billion, a P/E ratio of 30.12, a price-to-earnings-growth ratio of 0.64 and a beta of 2.04. The business's 50 day moving average is $95.93 and its two-hundred day moving average is $93.77.

Modine Manufacturing (NYSE:MOD - Get Free Report) last announced its quarterly earnings data on Tuesday, May 20th. The auto parts company reported $1.12 earnings per share (EPS) for the quarter, topping 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 analysts' expectations of $633.13 million. During the same quarter in the prior year, the firm earned $0.77 earnings per share. Modine Manufacturing's revenue was up 7.2% compared to the same quarter last year. As a group, equities research analysts expect that Modine Manufacturing Company will post 3.88 EPS for the current year.

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.