Modine Manufacturing Company (NYSE:MOD) Position Boosted by Bessemer Group Inc.

Bessemer Group Inc. lifted its position in shares of Modine Manufacturing Company (NYSE:MOD - Free Report) by 9,728.6% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,440 shares of the auto parts company's stock after buying an additional 3,405 shares during the period. Bessemer Group Inc.'s holdings in Modine Manufacturing were worth $264,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in MOD. Skandinaviska Enskilda Banken AB publ increased its holdings in Modine Manufacturing by 567.6% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 227 shares of the auto parts company's stock valued at $27,000 after purchasing an additional 193 shares in the last quarter. GAMMA Investing LLC increased its holdings in Modine Manufacturing by 63.1% in the 1st quarter. GAMMA Investing LLC now owns 367 shares of the auto parts company's stock valued at $28,000 after purchasing an additional 142 shares in the last quarter. Versant Capital Management Inc increased its holdings in Modine Manufacturing by 245.9% in the 1st 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 acquired a new stake in Modine Manufacturing in the 1st quarter valued at $46,000. Finally, Centaurus Financial Inc. acquired a new stake in Modine Manufacturing in the 4th quarter valued at $148,000. 95.23% of the stock is currently owned by institutional investors and hedge funds.

Modine Manufacturing Stock Up 2.2%

Shares of Modine Manufacturing stock traded up $2.25 during trading hours on Friday, hitting $104.47. 578,701 shares of the company's stock traded hands, compared to its average volume of 946,820. The stock has a 50 day simple moving average of $95.09 and a 200-day simple moving average of $95.84. The company has a quick ratio of 1.15, a current ratio of 1.78 and a debt-to-equity ratio of 0.32. The company has a market cap of $5.47 billion, a PE ratio of 30.55, a PEG ratio of 0.68 and a beta of 2.04. Modine Manufacturing Company has a twelve month low of $64.79 and a twelve month high of $146.84.

Modine Manufacturing (NYSE:MOD - Get Free Report) last issued its quarterly earnings results on Tuesday, May 20th. The auto parts company reported $1.12 EPS for the quarter, topping the consensus estimate of $0.96 by $0.16. Modine Manufacturing had a net margin of 7.12% and a return on equity of 25.31%. The business had revenue of $647.20 million for the quarter, compared to analysts' expectations of $633.13 million. During the same quarter last year, the company posted $0.77 earnings per share. The company's quarterly revenue was up 7.2% compared to the same quarter last year. Equities research analysts anticipate that Modine Manufacturing Company will post 3.88 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently issued reports on MOD. DA Davidson reiterated a "buy" rating and issued a $155.00 price target on shares of Modine Manufacturing in a report on Monday, March 17th. Oppenheimer raised their target price on Modine Manufacturing from $121.00 to $122.00 and gave the company an "outperform" rating in a research note on Tuesday, July 1st. Wall Street Zen upgraded Modine Manufacturing from a "hold" rating to a "buy" rating in a research note on Saturday, June 7th. Finally, KeyCorp began coverage on Modine Manufacturing in a research note on Thursday, June 12th. They set an "overweight" rating and a $125.00 target price for the company. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $135.50.

Modine Manufacturing Company Profile

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.