Colonial River Investments LLC Makes New Investment in Modine Manufacturing (NYSE:MOD)

Colonial River Investments LLC purchased a new stake in Modine Manufacturing (NYSE:MOD) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 3,501 shares of the auto parts company’s stock, valued at approximately $465,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Banque Cantonale Vaudoise boosted its stake in shares of Modine Manufacturing by 9.8% during the 2nd quarter. Banque Cantonale Vaudoise now owns 1,165 shares of the auto parts company’s stock worth $117,000 after buying an additional 104 shares during the last quarter. Xponance Inc. boosted its position in Modine Manufacturing by 4.9% during the second quarter. Xponance Inc. now owns 3,270 shares of the auto parts company’s stock valued at $328,000 after purchasing an additional 153 shares during the last quarter. SummerHaven Investment Management LLC grew its stake in Modine Manufacturing by 0.7% in the second quarter. SummerHaven Investment Management LLC now owns 21,194 shares of the auto parts company’s stock valued at $2,123,000 after purchasing an additional 155 shares in the last quarter. Ameritas Advisory Services LLC increased its position in shares of Modine Manufacturing by 2.9% during the 2nd quarter. Ameritas Advisory Services LLC now owns 7,000 shares of the auto parts company’s stock worth $701,000 after purchasing an additional 200 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC raised its stake in shares of Modine Manufacturing by 7.3% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 3,132 shares of the auto parts company’s stock worth $314,000 after purchasing an additional 212 shares in the last quarter. 95.23% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on MOD shares. DA Davidson boosted their target price on shares of Modine Manufacturing from $140.00 to $155.00 and gave the stock a “buy” rating in a report on Tuesday, September 24th. William Blair started coverage on shares of Modine Manufacturing in a research note on Monday, July 29th. They set an “outperform” rating on the stock. Oppenheimer raised their target price on shares of Modine Manufacturing from $144.00 to $145.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Finally, B. Riley boosted their price target on Modine Manufacturing from $125.00 to $140.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Modine Manufacturing has an average rating of “Moderate Buy” and an average target price of $146.67.

Insider Transactions at Modine Manufacturing

In related news, Director Marsha C. Williams sold 34,400 shares of the business’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $109.74, for a total value of $3,775,056.00. Following the completion of the sale, the director now directly owns 144,038 shares in the company, valued at $15,806,730.12. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 2.40% of the stock is owned by corporate insiders.

Modine Manufacturing Price Performance

NYSE:MOD opened at $128.12 on Friday. The firm’s fifty day moving average price is $123.21 and its two-hundred day moving average price is $109.74. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.77 and a quick ratio of 1.09. The company has a market cap of $6.73 billion, a P/E ratio of 42.01, a P/E/G ratio of 0.96 and a beta of 2.25. Modine Manufacturing has a one year low of $42.65 and a one year high of $141.72.

Modine Manufacturing (NYSE:MOD) last released its quarterly earnings results on Tuesday, October 29th. The auto parts company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.05. The firm had revenue of $658.00 million for the quarter, compared to analysts’ expectations of $646.86 million. Modine Manufacturing had a net margin of 6.59% and a return on equity of 23.96%. The business’s revenue was up 6.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.89 EPS. Equities analysts expect that Modine Manufacturing will post 3.83 earnings per share for the current year.

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.