Peregrine Capital Management LLC Has $8.78 Million Stock Position in Modine Manufacturing Company (NYSE:MOD)

Peregrine Capital Management LLC increased its stake in shares of Modine Manufacturing Company (NYSE:MOD - Free Report) by 13.3% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 114,338 shares of the auto parts company's stock after acquiring an additional 13,389 shares during the period. Peregrine Capital Management LLC owned 0.22% of Modine Manufacturing worth $8,775,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the stock. Skandinaviska Enskilda Banken AB publ boosted its position in Modine Manufacturing by 567.6% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 227 shares of the auto parts company's stock worth $27,000 after purchasing an additional 193 shares during the period. GAMMA Investing LLC raised its position in shares of Modine Manufacturing by 63.1% in the first 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 during the period. Versant Capital Management Inc lifted its stake in shares of Modine Manufacturing by 245.9% in the first quarter. Versant Capital Management Inc now owns 422 shares of the auto parts company's stock worth $32,000 after buying an additional 300 shares during the last quarter. Central Pacific Bank Trust Division bought a new stake in shares of Modine Manufacturing during the 1st quarter worth $46,000. Finally, Skylands Capital LLC acquired a new position in Modine Manufacturing in the 1st quarter valued at $130,000. 95.23% of the stock is owned by institutional investors.

Modine Manufacturing Price Performance

NYSE MOD traded up $2.25 on Thursday, reaching $104.47. The company's stock had a trading volume of 578,701 shares, compared to its average volume of 942,807. Modine Manufacturing Company has a 52 week low of $64.79 and a 52 week 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 business has a 50-day moving average price of $94.12 and a 200 day moving average price of $96.36. The firm has a market cap of $5.47 billion, a PE ratio of 30.55, a price-to-earnings-growth ratio of 0.64 and a beta of 2.04.

Modine Manufacturing (NYSE:MOD - Get Free Report) last announced its earnings results on Tuesday, May 20th. The auto parts company reported $1.12 earnings per share for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $633.13 million. During the same period last year, the company posted $0.77 earnings per share. The firm's quarterly revenue was up 7.2% compared to the same quarter last year. Sell-side analysts expect that Modine Manufacturing Company will post 3.88 EPS for the current year.

Modine Manufacturing announced that its board has approved a share buyback program on Friday, March 7th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the auto parts company to reacquire up to 2.4% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

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