Needham Investment Management LLC purchased a new position in shares of Modine Manufacturing Company (NYSE:MOD – Free Report) during the fourth quarter, HoldingsChannel reports. The firm purchased 25,000 shares of the auto parts company’s stock, valued at approximately $3,338,000.
A number of other hedge funds have also recently added to or reduced their stakes in MOD. Capital Research Global Investors purchased a new position in shares of Modine Manufacturing during the 3rd quarter worth approximately $184,610,000. WT Asset Management Ltd acquired a new stake in Modine Manufacturing in the fourth quarter valued at $69,255,000. Norges Bank acquired a new position in shares of Modine Manufacturing during the 4th quarter worth $58,309,000. Van Berkom & Associates Inc. increased its holdings in shares of Modine Manufacturing by 3,145.2% in the 4th quarter. Van Berkom & Associates Inc. now owns 436,084 shares of the auto parts company’s stock valued at $58,222,000 after purchasing an additional 422,646 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in shares of Modine Manufacturing by 133.2% in the third quarter. Invesco Ltd. now owns 598,140 shares of the auto parts company’s stock valued at $85,032,000 after purchasing an additional 341,595 shares during the period. Institutional investors and hedge funds own 95.23% of the company’s stock.
Analyst Ratings Changes
A number of research firms have recently issued reports on MOD. Zacks Research downgraded shares of Modine Manufacturing from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 13th. Wall Street Zen upgraded Modine Manufacturing from a “hold” rating to a “buy” rating in a research report on Saturday, May 30th. Oppenheimer increased their price objective on shares of Modine Manufacturing from $271.00 to $325.00 and gave the company an “outperform” rating in a research note on Thursday, May 28th. KeyCorp lifted their target price on shares of Modine Manufacturing from $250.00 to $370.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 27th. Finally, DA Davidson increased their price target on shares of Modine Manufacturing from $265.00 to $330.00 and gave the company a “buy” rating in a research report on Friday, May 29th. Seven research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $327.14.
Modine Manufacturing Price Performance
Shares of NYSE:MOD opened at $286.39 on Tuesday. The business has a fifty day simple moving average of $261.57 and a 200-day simple moving average of $206.44. The company has a quick ratio of 1.25, a current ratio of 1.94 and a debt-to-equity ratio of 0.32. Modine Manufacturing Company has a 52 week low of $86.48 and a 52 week high of $323.25. The company has a market cap of $15.13 billion, a P/E ratio of 127.85, a P/E/G ratio of 0.89 and a beta of 1.65.
Modine Manufacturing (NYSE:MOD – Get Free Report) last posted its quarterly earnings data on Tuesday, May 26th. The auto parts company reported $1.71 EPS for the quarter, beating analysts’ consensus estimates of $1.51 by $0.20. Modine Manufacturing had a net margin of 3.82% and a return on equity of 24.39%. The company had revenue of $954.40 million during the quarter, compared to the consensus estimate of $920.67 million. During the same quarter in the prior year, the company posted $1.12 EPS. The company’s quarterly revenue was up 47.5% compared to the same quarter last year. Equities research analysts forecast that Modine Manufacturing Company will post 7.73 EPS for the current year.
Modine Manufacturing Company Profile
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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