Modine Manufacturing (NYSE:MOD) Shares Acquired by Reinhart Partners LLC.

Reinhart Partners LLC. grew its stake in Modine Manufacturing (NYSE:MOD - Free Report) by 187.3% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 875,834 shares of the auto parts company's stock after buying an additional 571,026 shares during the quarter. Modine Manufacturing accounts for about 2.5% of Reinhart Partners LLC.'s portfolio, making the stock its 19th largest holding. Reinhart Partners LLC. owned about 1.67% of Modine Manufacturing worth $67,220,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Vanguard Group Inc. raised its holdings in Modine Manufacturing by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 5,058,967 shares of the auto parts company's stock worth $586,486,000 after purchasing an additional 70,581 shares during the period. Invesco Ltd. raised its holdings in Modine Manufacturing by 1.0% in the 4th quarter. Invesco Ltd. now owns 2,012,533 shares of the auto parts company's stock worth $233,313,000 after purchasing an additional 20,085 shares during the period. Driehaus Capital Management LLC raised its holdings in Modine Manufacturing by 2.8% in the 4th quarter. Driehaus Capital Management LLC now owns 1,439,980 shares of the auto parts company's stock worth $166,937,000 after purchasing an additional 39,193 shares during the period. Wasatch Advisors LP raised its holdings in Modine Manufacturing by 108.0% in 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. Finally, T. Rowe Price Investment Management Inc. raised 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 during the period. Institutional investors and hedge funds own 95.23% of the company's stock.

Modine Manufacturing Price Performance

Shares of Modine Manufacturing stock opened at $93.55 on Friday. The business has a 50 day simple moving average of $86.47 and a two-hundred day simple moving average of $101.16. Modine Manufacturing has a 12 month low of $64.79 and a 12 month high of $146.84. The stock has a market capitalization of $4.90 billion, a P/E ratio of 31.39, a PEG ratio of 0.71 and a beta of 2.06. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.87 and a quick ratio of 1.18.

Modine Manufacturing (NYSE:MOD - Get Free Report) last announced its earnings results on Tuesday, May 20th. The auto parts company reported $1.12 EPS for the quarter, beating analysts' consensus estimates of $0.96 by $0.16. Modine Manufacturing had a return on equity of 24.25% and a net margin of 6.31%. The business had revenue of $647.20 million during 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. The business's revenue was up 7.2% compared to the same quarter last year. As a group, analysts predict that Modine Manufacturing will post 3.88 EPS for the current fiscal year.

Modine Manufacturing announced that its board has initiated a share repurchase plan on Friday, March 7th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the auto parts company to purchase up to 2.4% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's board of directors believes its shares are undervalued.

Analyst Ratings Changes

A number of research firms recently weighed in on MOD. DA Davidson reaffirmed a "buy" rating and issued a $155.00 price target on shares of Modine Manufacturing in a report on Monday, March 17th. Wall Street Zen raised Modine Manufacturing from a "hold" rating to a "buy" rating in a report on Saturday. Finally, Oppenheimer increased their target price on Modine Manufacturing from $114.00 to $121.00 and gave the company an "outperform" rating in a report on Thursday, May 22nd. Five analysts have rated the stock with a buy rating, According to MarketBeat, Modine Manufacturing has a consensus rating of "Buy" and an average price target of $138.67.

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.

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