Bank of New York Mellon Corp Has $65.09 Million Position in Modine Manufacturing Company (NYSE:MOD)

Bank of New York Mellon Corp increased its position in shares of Modine Manufacturing Company (NYSE:MOD - Free Report) by 384.3% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 848,068 shares of the auto parts company's stock after purchasing an additional 672,960 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.61% of Modine Manufacturing worth $65,089,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in MOD. Wasatch Advisors LP raised its stake in shares of Modine Manufacturing by 108.0% during the 4th quarter. Wasatch Advisors LP now owns 1,428,415 shares of the auto parts company's stock worth $165,596,000 after purchasing an additional 741,667 shares during the period. Reinhart Partners LLC. lifted its stake in Modine Manufacturing by 187.3% in the first quarter. Reinhart Partners LLC. now owns 875,834 shares of the auto parts company's stock worth $67,220,000 after acquiring an additional 571,026 shares during the period. J. Goldman & Co LP bought a new position in shares of Modine Manufacturing during the fourth quarter valued at $43,201,000. Norges Bank bought a new stake in shares of Modine Manufacturing during the 4th quarter valued at about $31,590,000. Finally, T. Rowe Price Investment Management Inc. lifted its holdings in Modine Manufacturing by 27.8% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,207,181 shares of the auto parts company's stock worth $139,949,000 after purchasing an additional 262,936 shares in the last quarter. Institutional investors and hedge funds own 95.23% of the company's stock.

Modine Manufacturing Stock Down 1.9%

Modine Manufacturing stock traded down $1.72 during trading hours on Tuesday, hitting $90.02. 869,343 shares of the stock traded hands, compared to its average volume of 962,197. 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 company has a market cap of $4.72 billion, a PE ratio of 26.32, a PEG ratio of 0.60 and a beta of 2.04. The firm's 50-day moving average price is $96.36 and its two-hundred day moving average price is $94.72. Modine Manufacturing Company has a one year low of $64.79 and a one year high of $146.84.

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 net margin of 7.12% and a return on equity of 25.31%. The business had revenue of $647.20 million during the quarter, compared to the consensus estimate of $633.13 million. During the same quarter last year, the firm earned $0.77 earnings per share. The firm's quarterly revenue was up 7.2% compared to the same quarter last year. On average, research analysts forecast that Modine Manufacturing Company will post 3.88 EPS for the current year.

Wall Street Analyst Weigh In

MOD has been the subject of several analyst reports. Wall Street Zen upgraded shares of Modine Manufacturing from a "hold" rating to a "buy" rating in a research note on Saturday, June 7th. KeyCorp assumed coverage on Modine Manufacturing in a report on Thursday, June 12th. They set an "overweight" rating and a $125.00 price objective on the stock. Oppenheimer lifted their price objective on Modine Manufacturing from $121.00 to $122.00 and gave the company an "outperform" rating in a research note on Tuesday, July 1st. Finally, DA Davidson restated a "buy" rating and set a $155.00 price objective on shares of Modine Manufacturing in a research note on Monday, March 17th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $135.50.

Modine Manufacturing 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.