Victory Capital Management Inc. Grows Stock Position in Modine Manufacturing Company $MOD

Key Points

• Victory Capital increased its stake in Modine (NYSE:MOD) by 846.5% in Q3, adding 72,517 shares to hold 81,084 shares worth about $11.53 million (0.15% of the company).
• Modine reported better-than-expected Q results with EPS of $1.19 vs. $0.99 consensus and revenue of $805 million, up 30.5% year-over-year.
• Institutional investors own 95.23% of the stock; Modine has a market cap of $10.58 billion, a P/E of 111.48, and an average analyst rating of "Buy" with a $223.20 price target.

Victory Capital Management Inc. grew its position in shares of Modine Manufacturing Company (NYSE:MOD - Free Report) by 846.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 81,084 shares of the auto parts company's stock after buying an additional 72,517 shares during the period. Victory Capital Management Inc. owned 0.15% of Modine Manufacturing worth $11,527,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. First Horizon Corp purchased a new stake in Modine Manufacturing during the third quarter valued at about $38,000. Parkside Financial Bank & Trust lifted its stake in shares of Modine Manufacturing by 2,025.0% during the 2nd quarter. Parkside Financial Bank & Trust now owns 425 shares of the auto parts company's stock valued at $42,000 after buying an additional 405 shares in the last quarter. Elevation Point Wealth Partners LLC bought a new position in Modine Manufacturing in the 2nd quarter worth approximately $57,000. Toth Financial Advisory Corp bought a new position in Modine Manufacturing in the 3rd quarter worth approximately $57,000. Finally, AdvisorShares Investments LLC grew its stake in Modine Manufacturing by 154.0% in the 3rd quarter. AdvisorShares Investments LLC now owns 475 shares of the auto parts company's stock valued at $68,000 after buying an additional 288 shares in the last quarter. Institutional investors own 95.23% of the company's stock.

Modine Manufacturing Stock Performance

NYSE:MOD opened at $200.66 on Thursday. The stock has a market cap of $10.58 billion, a P/E ratio of 111.48, a PEG ratio of 1.23 and a beta of 1.67. The company has a quick ratio of 1.28, a current ratio of 2.19 and a debt-to-equity ratio of 0.51. The business's 50-day moving average price is $181.44 and its two-hundred day moving average price is $159.26. Modine Manufacturing Company has a twelve month low of $64.79 and a twelve month high of $243.80.

Modine Manufacturing (NYSE:MOD - Get Free Report) last posted its quarterly earnings data on Wednesday, February 4th. The auto parts company reported $1.19 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.20. Modine Manufacturing had a net margin of 3.40% and a return on equity of 22.99%. The company had revenue of $805.00 million for the quarter, compared to analysts' expectations of $763.54 million. During the same period in the prior year, the business earned $0.92 earnings per share. Modine Manufacturing's revenue for the quarter was up 30.5% compared to the same quarter last year. As a group, equities analysts predict that Modine Manufacturing Company will post 3.88 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on MOD. UBS Group assumed coverage on Modine Manufacturing in a research report on Thursday, November 20th. They issued a "buy" rating and a $173.00 price target for the company. Zacks Research upgraded Modine Manufacturing from a "hold" rating to a "strong-buy" rating in a research report on Friday, January 30th. Weiss Ratings restated a "hold (c)" rating on shares of Modine Manufacturing in a research report on Monday, December 29th. Wall Street Zen cut shares of Modine Manufacturing from a "buy" rating to a "hold" rating in a research note on Sunday, February 22nd. Finally, Roth Mkm started coverage on shares of Modine Manufacturing in a report on Wednesday, February 18th. They set a "buy" rating and a $263.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $223.20.

Insider Buying and Selling at Modine Manufacturing

In other news, Director Suresh V. Garimella sold 1,100 shares of Modine Manufacturing stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $184.07, for a total transaction of $202,477.00. Following the completion of the sale, the director directly owned 79,856 shares of the company's stock, valued at approximately $14,699,093.92. The trade was a 1.36% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 2.48% of the company's stock.

About Modine Manufacturing

Modine Manufacturing Company NYSE: MOD is a global provider of thermal management solutions serving automotive, commercial transportation, heavy-duty off-highway, industrial, HVAC and refrigeration markets. The company designs, manufactures, tests and markets a broad array of heat-transfer products that manage temperature and energy efficiency for engines, power electronics and building climate control systems.

Its product portfolio includes heat exchangers, condensers, radiators, evaporators, charge air coolers, fan systems and associated controls.

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