GAMMA Investing LLC Buys 27,942 Shares of Modine Manufacturing (NYSE:MOD)

GAMMA Investing LLC increased its stake in Modine Manufacturing (NYSE:MOD - Free Report) by 12,418.7% during the first quarter, according to its most recent filing with the SEC. The fund owned 28,167 shares of the auto parts company's stock after buying 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 quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Skandinaviska Enskilda Banken AB publ boosted its holdings in shares of Modine Manufacturing by 567.6% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 227 shares of the auto parts company's stock worth $27,000 after buying an additional 193 shares during the last quarter. Versant Capital Management Inc boosted its holdings in shares of Modine Manufacturing by 245.9% in the 1st 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. Principal Securities Inc. boosted its holdings in shares of Modine Manufacturing by 97.8% in the 4th quarter. Principal Securities Inc. now owns 544 shares of the auto parts company's stock worth $63,000 after buying an additional 269 shares during the last quarter. Central Pacific Bank Trust Division purchased a new position in shares of Modine Manufacturing in the 1st quarter worth about $46,000. Finally, Centaurus Financial Inc. purchased a new position in shares of Modine Manufacturing in the 4th quarter worth about $148,000. 95.23% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on MOD. Oppenheimer boosted their price target on shares of Modine Manufacturing from $114.00 to $121.00 and gave the stock an "outperform" rating in a report on Thursday, May 22nd. DA Davidson reaffirmed a "buy" rating and set a $155.00 price objective on shares of Modine Manufacturing in a report on Monday, March 17th. Wall Street Zen raised shares of Modine Manufacturing from a "hold" rating to a "buy" rating in a report on Saturday, June 7th. Finally, KeyCorp initiated coverage on shares of Modine Manufacturing in a report on Thursday. They set an "overweight" rating and a $125.00 price objective on the stock. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $135.25.

Modine Manufacturing Stock Performance

NYSE MOD traded down $3.26 during trading on Friday, hitting $93.81. 962,171 shares of the company's stock traded hands, compared to its average volume of 946,670. The stock has a market capitalization of $4.91 billion, a price-to-earnings ratio of 31.48, a PEG ratio of 0.71 and a beta of 2.06. Modine Manufacturing has a 12-month low of $64.79 and a 12-month high of $146.84. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.18 and a current ratio of 1.87. The business has a 50 day moving average of $88.38 and a 200-day moving average of $99.60.

Modine Manufacturing (NYSE:MOD - Get Free Report) last announced its quarterly earnings results on Tuesday, May 20th. The auto parts company reported $1.12 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.16. Modine Manufacturing had a return on equity of 24.25% and a net margin of 6.31%. The firm had revenue of $647.20 million for the quarter, compared to analysts' expectations of $633.13 million. During the same period in the prior year, the business posted $0.77 earnings per share. The company's revenue was up 7.2% on a year-over-year basis. As a group, equities research analysts anticipate that Modine Manufacturing will post 3.88 earnings per share for the current fiscal year.

Modine Manufacturing announced that its Board of Directors has authorized a stock buyback plan on Friday, March 7th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the auto parts company to purchase up to 2.4% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's leadership believes its stock is 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.