Royce & Associates LP Acquires 84,847 Shares of Modine Manufacturing Company (NYSE:MOD)

Royce & Associates LP increased its position in Modine Manufacturing Company (NYSE:MOD - Free Report) by 47.7% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 262,699 shares of the auto parts company's stock after purchasing an additional 84,847 shares during the period. Royce & Associates LP owned 0.50% of Modine Manufacturing worth $20,162,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Wasatch Advisors LP boosted its position 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. Bank of New York Mellon Corp raised its stake in Modine Manufacturing by 384.3% during the 1st quarter. Bank of New York Mellon Corp now owns 848,068 shares of the auto parts company's stock valued at $65,089,000 after purchasing an additional 672,960 shares during the period. Reinhart Partners LLC. raised its stake in Modine Manufacturing by 187.3% during the 1st 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 position in shares of Modine Manufacturing in the fourth quarter worth $43,201,000. Finally, Norges Bank acquired a new position in shares of Modine Manufacturing in the fourth quarter worth $31,590,000. 95.23% of the stock is currently owned by institutional investors and hedge funds.

Modine Manufacturing Trading Up 5.8%

Shares of MOD stock traded up $5.63 on Friday, hitting $103.50. The stock had a trading volume of 1,437,381 shares, compared to its average volume of 1,051,686. Modine Manufacturing Company has a twelve month low of $64.79 and a twelve month high of $146.84. The firm has a market cap of $5.43 billion, a P/E ratio of 30.26, a PEG ratio of 0.64 and a beta of 2.04. The company has a current ratio of 1.78, a quick ratio of 1.15 and a debt-to-equity ratio of 0.32. The company has a fifty day moving average price of $95.91 and a two-hundred day moving average price of $93.64.

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. 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 7.12% and a return on equity of 25.31%. The firm's revenue was up 7.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.77 EPS. As a group, analysts forecast that Modine Manufacturing Company will post 3.88 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have commented on MOD shares. Oppenheimer increased their target price on shares of Modine Manufacturing from $121.00 to $122.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 1st. Wall Street Zen upgraded shares of Modine Manufacturing from a "hold" rating to a "buy" rating in a research note on Saturday, June 7th. Finally, KeyCorp started coverage on shares of Modine Manufacturing in a report on Thursday, June 12th. They set an "overweight" rating and a $125.00 target price for the company. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, Modine Manufacturing currently has a consensus rating of "Buy" and a consensus price target of $135.50.

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.