4,420 Shares in Modine Manufacturing (NYSE:MOD) Bought by NBC Securities Inc.

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

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

Analysts Set New Price Targets

MOD has been the subject of several recent analyst reports. DA Davidson restated a "buy" rating and set a $155.00 target price on shares of Modine Manufacturing in a research report on Monday, March 17th. Wall Street Zen raised Modine Manufacturing from a "hold" rating to a "buy" rating in a research note on Saturday. Finally, Oppenheimer upped their price objective on Modine Manufacturing from $114.00 to $121.00 and gave the company an "outperform" rating in a research report on Thursday, May 22nd. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, Modine Manufacturing currently has an average rating of "Buy" and a consensus price target of $138.67.

Modine Manufacturing Trading Up 1.7%

Modine Manufacturing stock traded up $1.52 during trading hours on Tuesday, hitting $92.21. The company had a trading volume of 887,195 shares, compared to its average volume of 942,679. Modine Manufacturing has a 1 year low of $64.79 and a 1 year 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 company has a 50-day moving average price of $86.97 and a two-hundred day moving average price of $100.23. The firm has a market cap of $4.83 billion, a P/E ratio of 30.94, a P/E/G ratio of 0.71 and a beta of 2.06.

Modine Manufacturing (NYSE:MOD - Get Free Report) last released its quarterly earnings data on Tuesday, May 20th. The auto parts company reported $1.12 earnings per share for the quarter, topping analysts' consensus estimates 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 net margin of 6.31% and a return on equity of 24.25%. The firm's revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.77 earnings per share. On average, sell-side analysts anticipate that Modine Manufacturing will post 3.88 earnings per share for the current year.

Modine Manufacturing announced that its board has approved a share buyback plan on Friday, March 7th that permits the company to buyback $100.00 million in 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 usually a sign that the company's leadership believes its stock is undervalued.

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.