Y Intercept Hong Kong Ltd Buys New Holdings in Modine Manufacturing Company (NYSE:MOD)

Y Intercept Hong Kong Ltd bought a new position in shares of Modine Manufacturing Company (NYSE:MOD - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 16,834 shares of the auto parts company's stock, valued at approximately $1,292,000.

Several other large investors have also added to or reduced their stakes in MOD. Wasatch Advisors LP grew its stake in Modine Manufacturing by 108.0% in the fourth quarter. Wasatch Advisors LP now owns 1,428,415 shares of the auto parts company's stock valued at $165,596,000 after acquiring an additional 741,667 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Modine Manufacturing by 384.3% in the first 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 in the last quarter. Reinhart Partners LLC. lifted its holdings in shares of Modine Manufacturing by 187.3% in the first 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 in the last quarter. J. Goldman & Co LP bought a new position in shares of Modine Manufacturing in the fourth quarter valued at approximately $43,201,000. Finally, Norges Bank bought a new position in shares of Modine Manufacturing in the fourth quarter valued at approximately $31,590,000. Institutional investors and hedge funds own 95.23% of the company's stock.

Modine Manufacturing Stock Performance

Shares of MOD traded up $5.63 during mid-day trading 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. 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 business has a fifty day moving average price of $95.91 and a 200-day moving average price of $93.64. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.78 and a quick ratio of 1.15. Modine Manufacturing Company has a 52 week low of $64.79 and a 52 week high of $146.84.

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 for the quarter, beating the consensus estimate of $0.96 by $0.16. Modine Manufacturing had a return on equity of 25.31% and a net margin of 7.12%. The company had revenue of $647.20 million during the quarter, compared to analysts' expectations of $633.13 million. During the same period in the previous year, the business earned $0.77 earnings per share. The firm's quarterly revenue was up 7.2% compared to the same quarter last year. On average, equities research analysts expect that Modine Manufacturing Company will post 3.88 EPS for the current year.

Analysts Set New Price Targets

MOD has been the topic of a number of recent research reports. KeyCorp initiated coverage on Modine Manufacturing in a report on Thursday, June 12th. They issued an "overweight" rating and a $125.00 target price on the stock. Wall Street Zen upgraded Modine Manufacturing from a "hold" rating to a "buy" rating in a report on Saturday, June 7th. Finally, Oppenheimer raised their target price on Modine Manufacturing from $121.00 to $122.00 and gave the company an "outperform" rating in a report on Tuesday, July 1st. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $135.50.

Modine Manufacturing 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.