GAMMA Investing LLC Raises Position in Modine Manufacturing Company (NYSE:MOD)

GAMMA Investing LLC increased its stake in Modine Manufacturing Company (NYSE:MOD - Free Report) by 12,418.7% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,167 shares of the auto parts company's stock after acquiring an additional 27,942 shares during the quarter. GAMMA Investing LLC owned 0.05% of Modine Manufacturing worth $2,162,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of MOD. William Blair Investment Management LLC raised its position in shares of Modine Manufacturing by 7.7% during the fourth quarter. William Blair Investment Management LLC now owns 247,400 shares of the auto parts company's stock worth $28,681,000 after purchasing an additional 17,599 shares during the period. New York State Common Retirement Fund raised its holdings in Modine Manufacturing by 9.9% during the fourth quarter. New York State Common Retirement Fund now owns 247,975 shares of the auto parts company's stock worth $28,748,000 after buying an additional 22,259 shares during the last quarter. Peregrine Capital Management LLC lifted its stake in shares of Modine Manufacturing by 10.9% in the fourth quarter. Peregrine Capital Management LLC now owns 100,949 shares of the auto parts company's stock valued at $11,703,000 after buying an additional 9,920 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Modine Manufacturing during the fourth quarter valued at about $19,719,000. Finally, Alberta Investment Management Corp grew its holdings in shares of Modine Manufacturing by 27.3% during the fourth quarter. Alberta Investment Management Corp now owns 58,437 shares of the auto parts company's stock valued at $6,775,000 after buying an additional 12,536 shares during the last quarter. Institutional investors and hedge funds own 95.23% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. DA Davidson restated a "buy" rating and issued a $155.00 target price on shares of Modine Manufacturing in a report on Monday, March 17th. Oppenheimer increased their price objective on Modine Manufacturing from $114.00 to $121.00 and gave the stock an "outperform" rating in a research note on Thursday, May 22nd. Wall Street Zen upgraded Modine Manufacturing from a "hold" rating to a "buy" rating in a report on Saturday, June 7th. Finally, KeyCorp assumed coverage on Modine Manufacturing in a report on Thursday, June 12th. They set an "overweight" rating and a $125.00 price target for the company. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $135.25.

Modine Manufacturing Stock Down 1.9%

NYSE:MOD traded down $1.82 on Tuesday, hitting $94.03. The stock had a trading volume of 918,190 shares, compared to its average volume of 948,825. Modine Manufacturing Company has a 1 year low of $64.79 and a 1 year high of $146.84. The firm's fifty day simple moving average is $89.08 and its two-hundred day simple moving average is $98.81. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.15 and a current ratio of 1.78. The stock has a market cap of $4.93 billion, a P/E ratio of 27.49, a price-to-earnings-growth ratio of 0.62 and a beta of 2.06.

Modine Manufacturing (NYSE:MOD - Get Free Report) last released its earnings results on Tuesday, May 20th. The auto parts company reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.16. The company had revenue of $647.20 million during the quarter, compared to analyst estimates of $633.13 million. Modine Manufacturing had a return on equity of 25.31% and a net margin of 7.12%. Modine Manufacturing's quarterly revenue was up 7.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.77 earnings per share. Analysts predict that Modine Manufacturing Company will post 3.88 earnings per share for the current year.

Modine Manufacturing declared that its Board of Directors has authorized a share buyback program on Friday, March 7th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the auto parts company to purchase up to 2.4% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's board believes its shares are undervalued.

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.