NBC Securities Inc. Purchases Shares of 4,420 Modine Manufacturing (NYSE:MOD)

NBC Securities Inc. bought a new position in shares of Modine Manufacturing (NYSE:MOD - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 4,420 shares of the auto parts company's stock, valued at approximately $339,000.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Modine Manufacturing by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 5,058,967 shares of the auto parts company's stock worth $586,486,000 after purchasing an additional 70,581 shares during the last quarter. Invesco Ltd. boosted its position in shares of Modine Manufacturing by 1.0% during the 4th quarter. Invesco Ltd. now owns 2,012,533 shares of the auto parts company's stock worth $233,313,000 after purchasing an additional 20,085 shares during the period. Driehaus Capital Management LLC boosted its position in Modine Manufacturing by 2.8% in the 4th quarter. Driehaus Capital Management LLC now owns 1,439,980 shares of the auto parts company's stock valued at $166,937,000 after buying an additional 39,193 shares during the period. Wasatch Advisors LP boosted its position in Modine Manufacturing by 108.0% in the 4th quarter. Wasatch Advisors LP now owns 1,428,415 shares of the auto parts company's stock valued at $165,596,000 after buying an additional 741,667 shares during the period. Finally, T. Rowe Price Investment Management Inc. raised its holdings in shares of Modine Manufacturing by 27.8% in the 4th 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 in the last quarter. 95.23% of the stock is owned by hedge funds and other institutional investors.

Modine Manufacturing Stock Up 1.4%

MOD stock opened at $93.55 on Friday. The company has a market cap of $4.90 billion, a P/E ratio of 31.39, a P/E/G ratio of 0.71 and a beta of 2.06. Modine Manufacturing has a 52 week low of $64.79 and a 52 week high of $146.84. The company's 50-day moving average price is $86.47 and its 200 day moving average price is $101.16. The company has a current ratio of 1.87, a quick ratio of 1.18 and a debt-to-equity ratio of 0.38.

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 (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.16. Modine Manufacturing had a net margin of 6.31% and a return on equity of 24.25%. The company had revenue of $647.20 million for the quarter, compared to the consensus estimate of $633.13 million. During the same quarter in the prior year, the firm earned $0.77 earnings per share. The company's revenue for the quarter was up 7.2% compared to the same quarter last year. On average, research analysts expect that Modine Manufacturing will post 3.88 earnings per share for the current fiscal year.

Modine Manufacturing declared that its Board of Directors has initiated a stock repurchase plan on Friday, March 7th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the auto parts company to reacquire up to 2.4% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's board believes its stock is undervalued.

Analyst Upgrades and Downgrades

MOD has been the topic of several research analyst reports. Wall Street Zen upgraded shares of Modine Manufacturing from a "hold" rating to a "buy" rating in a research note on Saturday. DA Davidson restated a "buy" rating and issued a $155.00 price objective on shares of Modine Manufacturing in a research note on Monday, March 17th. Finally, 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 research note on Thursday, May 22nd. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Modine Manufacturing presently has a consensus rating of "Buy" and a consensus price target of $138.67.

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.

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