Wasatch Advisors LP Takes $91.19 Million Position in Modine Manufacturing (NYSE:MOD)

Wasatch Advisors LP purchased a new stake in shares of Modine Manufacturing (NYSE:MOD) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 686,748 shares of the auto parts company’s stock, valued at approximately $91,193,000. Wasatch Advisors LP owned 1.31% of Modine Manufacturing as of its most recent filing with the Securities and Exchange Commission.

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

Modine Manufacturing Stock Performance

Shares of MOD stock opened at $135.93 on Friday. Modine Manufacturing has a 1-year low of $48.88 and a 1-year high of $146.84. The company has a current ratio of 1.77, a quick ratio of 1.09 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $7.14 billion, a price-to-earnings ratio of 44.57, a P/E/G ratio of 1.02 and a beta of 2.25. The stock’s fifty day simple moving average is $129.70 and its 200-day simple moving average is $113.39.

Modine Manufacturing (NYSE:MOD) last issued its quarterly earnings results on Tuesday, October 29th. The auto parts company reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.92 by $0.05. Modine Manufacturing had a return on equity of 23.96% and a net margin of 6.59%. The business had revenue of $658.00 million for the quarter, compared to the consensus estimate of $646.86 million. During the same quarter in the previous year, the company posted $0.89 earnings per share. Modine Manufacturing’s revenue for the quarter was up 6.0% compared to the same quarter last year. On average, sell-side analysts predict that Modine Manufacturing will post 3.83 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on MOD. DA Davidson lifted their target price on Modine Manufacturing from $140.00 to $155.00 and gave the stock a “buy” rating in a report on Tuesday, September 24th. Oppenheimer lifted their target price on Modine Manufacturing from $144.00 to $145.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $146.67.

Modine Manufacturing Company 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.