Schechter Investment Advisors LLC Purchases New Position in Modine Manufacturing Company (NYSE:MOD)

Schechter Investment Advisors LLC purchased a new stake in Modine Manufacturing Company (NYSE:MOD - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor purchased 10,676 shares of the auto parts company's stock, valued at approximately $819,000.

Other large investors have also recently added to or reduced their stakes in the company. Skandinaviska Enskilda Banken AB publ increased its holdings in Modine Manufacturing by 567.6% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 227 shares of the auto parts company's stock valued at $27,000 after purchasing an additional 193 shares in the last quarter. GAMMA Investing LLC boosted its position in Modine Manufacturing by 63.1% in the 1st quarter. GAMMA Investing LLC now owns 367 shares of the auto parts company's stock valued at $28,000 after buying an additional 142 shares during the last quarter. Versant Capital Management Inc boosted its position in Modine Manufacturing by 245.9% in the 1st quarter. Versant Capital Management Inc now owns 422 shares of the auto parts company's stock valued at $32,000 after buying an additional 300 shares during the last quarter. Central Pacific Bank Trust Division purchased a new position in Modine Manufacturing in the 1st quarter valued at about $46,000. Finally, First Horizon Advisors Inc. boosted its position in Modine Manufacturing by 442.4% in the 1st quarter. First Horizon Advisors Inc. now owns 640 shares of the auto parts company's stock valued at $49,000 after buying an additional 522 shares during the last quarter. 95.23% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on MOD shares. KeyCorp started 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. DA Davidson reissued a "buy" rating and issued a $155.00 price objective on shares of Modine Manufacturing in a research report on Monday, March 17th. Wall Street Zen raised shares of Modine Manufacturing from a "hold" rating to a "buy" rating in a research report on Saturday, June 7th. Finally, Oppenheimer upped their price objective on shares of Modine Manufacturing from $121.00 to $122.00 and gave the company an "outperform" rating in a research report on Tuesday, July 1st. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $135.50.

Modine Manufacturing Stock Performance

Shares of MOD stock opened at $91.92 on Tuesday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.15 and a current ratio of 1.78. Modine Manufacturing Company has a one year low of $64.79 and a one year high of $146.84. The company's 50-day simple moving average is $96.36 and its 200-day simple moving average is $94.72. The stock has a market capitalization of $4.82 billion, a price-to-earnings ratio of 26.88, a PEG ratio of 0.60 and a beta of 2.04.

Modine Manufacturing (NYSE:MOD - Get Free Report) last issued its quarterly 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. Modine Manufacturing had a net margin of 7.12% and a return on equity of 25.31%. The business had revenue of $647.20 million for the quarter, compared to analysts' expectations of $633.13 million. During the same quarter last year, the company posted $0.77 earnings per share. The company's quarterly revenue was up 7.2% compared to the same quarter last year. Equities analysts anticipate that Modine Manufacturing Company will post 3.88 earnings per share for the current fiscal year.

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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