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

Mountain Pacific Investment Advisers LLC grew its position in Modine Manufacturing (NYSE:MOD - Free Report) by 18.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 53,369 shares of the auto parts company's stock after purchasing an additional 8,253 shares during the period. Mountain Pacific Investment Advisers LLC owned approximately 0.10% of Modine Manufacturing worth $4,096,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of MOD. Kestra Private Wealth Services LLC grew its position in Modine Manufacturing by 9.3% in the 4th quarter. Kestra Private Wealth Services LLC now owns 5,226 shares of the auto parts company's stock worth $606,000 after purchasing an additional 444 shares during the last quarter. Rhumbline Advisers grew its position in Modine Manufacturing by 2.0% in the 4th quarter. Rhumbline Advisers now owns 79,664 shares of the auto parts company's stock worth $9,235,000 after purchasing an additional 1,539 shares during the last quarter. Principal Securities Inc. grew its position in 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 purchasing an additional 269 shares during the last quarter. Truist Financial Corp grew its position in Modine Manufacturing by 0.5% in the 4th quarter. Truist Financial Corp now owns 34,267 shares of the auto parts company's stock worth $3,973,000 after purchasing an additional 159 shares during the last quarter. Finally, D.A. Davidson & CO. grew its position in Modine Manufacturing by 0.6% in the 4th quarter. D.A. Davidson & CO. now owns 62,566 shares of the auto parts company's stock worth $7,253,000 after purchasing an additional 352 shares during the last quarter. Institutional investors own 95.23% of the company's stock.

Modine Manufacturing Price Performance

NYSE MOD opened at $93.81 on Monday. 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 current ratio of 1.87 and a quick ratio of 1.18. The firm has a market capitalization of $4.91 billion, a PE ratio of 31.48, a P/E/G ratio of 0.71 and a beta of 2.06. The company's 50 day simple moving average is $88.38 and its 200 day simple moving average is $99.13.

Modine Manufacturing (NYSE:MOD - Get Free Report) last posted its quarterly earnings data 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 net margin of 6.31% and a return on equity of 24.25%. The business had revenue of $647.20 million for the quarter, compared to analyst estimates of $633.13 million. During the same quarter last year, the business earned $0.77 earnings per share. The business's revenue for the quarter was up 7.2% on a year-over-year basis. As a group, equities research analysts forecast that Modine Manufacturing will post 3.88 EPS for the current fiscal year.

Modine Manufacturing declared that its board has initiated a stock buyback program on Friday, March 7th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the auto parts company to reacquire up to 2.4% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several research firms have commented on MOD. Oppenheimer upped their target price on shares of Modine Manufacturing from $114.00 to $121.00 and gave the stock an "outperform" rating in a research report on Thursday, May 22nd. KeyCorp began coverage on shares of Modine Manufacturing in a research report on Thursday. They issued an "overweight" rating and a $125.00 target price for the company. Wall Street Zen upgraded shares of Modine Manufacturing from a "hold" rating to a "buy" rating in a research report on Saturday, June 7th. Finally, DA Davidson reiterated a "buy" rating and issued a $155.00 price objective on shares of Modine Manufacturing in a report on Monday, March 17th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Modine Manufacturing has an average rating of "Buy" and an average price target of $135.25.

About Modine Manufacturing

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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