Modine Manufacturing Company (NYSE:MOD) Shares Acquired by Mountain Pacific Investment Advisers LLC

Mountain Pacific Investment Advisers LLC lifted its holdings in shares of Modine Manufacturing Company (NYSE:MOD - Free Report) by 18.3% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 53,369 shares of the auto parts company's stock after buying an additional 8,253 shares during the period. Mountain Pacific Investment Advisers LLC owned approximately 0.10% of Modine Manufacturing worth $4,096,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in MOD. Wasatch Advisors LP boosted its stake in shares of Modine Manufacturing by 108.0% during the fourth quarter. Wasatch Advisors LP now owns 1,428,415 shares of the auto parts company's stock worth $165,596,000 after buying an additional 741,667 shares during the period. Reinhart Partners LLC. lifted its position in Modine Manufacturing by 187.3% in the first quarter. Reinhart Partners LLC. now owns 875,834 shares of the auto parts company's stock valued at $67,220,000 after purchasing an additional 571,026 shares during the period. J. Goldman & Co LP acquired a new stake in Modine Manufacturing in the fourth quarter valued at about $43,201,000. Norges Bank acquired a new stake in Modine Manufacturing in the fourth quarter valued at about $31,590,000. Finally, T. Rowe Price Investment Management Inc. lifted its position in Modine Manufacturing by 27.8% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,207,181 shares of the auto parts company's stock valued at $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 MOD traded up $1.78 during mid-day trading on Thursday, reaching $95.81. 577,099 shares of the company's stock were exchanged, compared to its average volume of 947,621. The company has a quick ratio of 1.15, a current ratio of 1.78 and a debt-to-equity ratio of 0.32. The company has a 50-day simple moving average of $89.32 and a two-hundred day simple moving average of $98.79. Modine Manufacturing Company has a 52-week low of $64.79 and a 52-week high of $146.84. The company has a market cap of $5.02 billion, a price-to-earnings ratio of 28.01, a PEG ratio of 0.61 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 EPS for the quarter, topping the consensus estimate of $0.96 by $0.16. The firm had revenue of $647.20 million during the quarter, compared to analysts' expectations of $633.13 million. Modine Manufacturing had a net margin of 7.12% and a return on equity of 25.31%. Modine Manufacturing's revenue for the quarter was up 7.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.77 EPS. On average, sell-side analysts predict that Modine Manufacturing Company will post 3.88 EPS for the current fiscal year.

Modine Manufacturing declared that its board has authorized a stock buyback plan 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 stock through open market purchases. Stock buyback plans are generally a sign that the company's management believes its stock is undervalued.

Analysts Set New Price Targets

MOD has been the subject of a number of recent analyst reports. Oppenheimer raised their price objective on shares of Modine Manufacturing from $114.00 to $121.00 and gave the company an "outperform" rating in a research report on Thursday, May 22nd. Wall Street Zen upgraded shares of Modine Manufacturing from a "hold" rating to a "buy" rating in a research report on Saturday, June 7th. KeyCorp initiated coverage on shares of Modine Manufacturing in a research report on Thursday, June 12th. They issued an "overweight" rating and a $125.00 price objective for the company. Finally, DA Davidson restated a "buy" rating and issued a $155.00 price objective 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, the company presently has an average rating of "Buy" and an average price target of $135.25.

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.