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

Reinhart Partners LLC. raised its holdings in shares of Modine Manufacturing (NYSE:MOD - Free Report) by 187.3% during the first quarter, according to its most recent filing with the SEC. The firm owned 875,834 shares of the auto parts company's stock after purchasing an additional 571,026 shares during the period. Modine Manufacturing accounts for about 2.5% of Reinhart Partners LLC.'s portfolio, making the stock its 19th largest position. Reinhart Partners LLC. owned 1.67% of Modine Manufacturing worth $67,220,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the business. Bay Rivers Group boosted its holdings in shares of Modine Manufacturing by 3.4% in the 1st quarter. Bay Rivers Group now owns 6,308 shares of the auto parts company's stock valued at $484,000 after buying an additional 209 shares in the last quarter. Hennion & Walsh Asset Management Inc. boosted its holdings in shares of Modine Manufacturing by 65.3% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 7,246 shares of the auto parts company's stock valued at $556,000 after buying an additional 2,862 shares in the last quarter. Viking Fund Management LLC bought a new stake in shares of Modine Manufacturing in the 1st quarter valued at about $998,000. NBC Securities Inc. bought a new stake in shares of Modine Manufacturing in the 1st quarter valued at about $339,000. Finally, Rhumbline Advisers boosted its holdings in shares of Modine Manufacturing by 2.2% in the 1st quarter. Rhumbline Advisers now owns 81,418 shares of the auto parts company's stock valued at $6,249,000 after buying an additional 1,754 shares in the last quarter. Hedge funds and other institutional investors own 95.23% of the company's stock.

Analysts Set New Price Targets

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

Modine Manufacturing Stock Performance

MOD stock traded up $1.52 during trading on Tuesday, reaching $92.21. The company had a trading volume of 887,195 shares, compared to its average volume of 942,679. The firm has a 50-day simple moving average of $86.97 and a 200-day simple moving average of $100.23. The company has a market cap of $4.83 billion, a price-to-earnings ratio of 30.94, a price-to-earnings-growth ratio of 0.71 and a beta of 2.06. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.18 and a current ratio of 1.87. Modine Manufacturing has a twelve month low of $64.79 and a twelve month high of $146.84.

Modine Manufacturing (NYSE:MOD - Get Free Report) last released its earnings results on Tuesday, May 20th. The auto parts company reported $1.12 EPS for the quarter, topping analysts' consensus estimates of $0.96 by $0.16. The company had revenue of $647.20 million during the quarter, compared to analysts' expectations of $633.13 million. Modine Manufacturing had a net margin of 6.31% and a return on equity of 24.25%. Modine Manufacturing's revenue for the quarter was up 7.2% on a year-over-year basis. During the same period last year, the business earned $0.77 EPS. As a group, sell-side analysts expect that Modine Manufacturing will post 3.88 earnings per share for the current year.

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

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.