Hennion & Walsh Asset Management Inc. raised its position in shares of Modine Manufacturing (NYSE:MOD – Free Report) by 117.1% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,384 shares of the auto parts company’s stock after buying an additional 2,365 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Modine Manufacturing were worth $508,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Farther Finance Advisors LLC lifted its position in shares of Modine Manufacturing by 90.9% during the third quarter. Farther Finance Advisors LLC now owns 1,031 shares of the auto parts company’s stock valued at $137,000 after buying an additional 491 shares during the last quarter. Legend Financial Advisors Inc. lifted its position in shares of Modine Manufacturing by 2.9% during the fourth quarter. Legend Financial Advisors Inc. now owns 9,929 shares of the auto parts company’s stock valued at $1,151,000 after buying an additional 279 shares during the last quarter. Harbor Capital Advisors Inc. lifted its position in shares of Modine Manufacturing by 58.0% during the third quarter. Harbor Capital Advisors Inc. now owns 69,839 shares of the auto parts company’s stock valued at $9,274,000 after buying an additional 25,648 shares during the last quarter. Campbell Newman Asset Management Inc. raised its position in shares of Modine Manufacturing by 38.9% in the 4th quarter. Campbell Newman Asset Management Inc. now owns 24,249 shares of the auto parts company’s stock valued at $2,811,000 after purchasing an additional 6,786 shares during the last quarter. Finally, Fred Alger Management LLC raised its position in shares of Modine Manufacturing by 5.1% in the 2nd quarter. Fred Alger Management LLC now owns 369,840 shares of the auto parts company’s stock valued at $37,054,000 after purchasing an additional 17,889 shares during the last quarter. 95.23% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several equities analysts recently commented on MOD shares. DA Davidson increased their price objective on shares of Modine Manufacturing from $140.00 to $155.00 and gave the company a “buy” rating in a research report on Tuesday, September 24th. Oppenheimer increased their price objective on shares of Modine Manufacturing from $144.00 to $145.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $146.67.
Modine Manufacturing Stock Performance
MOD opened at $133.24 on Tuesday. Modine Manufacturing has a 12-month low of $60.00 and a 12-month 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 firm has a market capitalization of $7.00 billion, a PE ratio of 43.69, a P/E/G ratio of 0.91 and a beta of 2.34. The firm has a 50 day moving average of $127.56 and a two-hundred day moving average of $120.24.
Modine Manufacturing (NYSE:MOD – Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The auto parts company reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.05. Modine Manufacturing had a net margin of 6.59% and a return on equity of 23.96%. The company had revenue of $658.00 million during the quarter, compared to analyst estimates of $646.86 million. During the same period last year, the firm posted $0.89 EPS. Modine Manufacturing’s revenue for the quarter was up 6.0% compared to the same quarter last year. On average, analysts anticipate that Modine Manufacturing will post 3.83 EPS for the current year.
About Modine Manufacturing
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.
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