Polar Asset Management Partners Inc. Purchases Shares of 23,906 Modine Manufacturing (NYSE:MOD)

Polar Asset Management Partners Inc. acquired a new stake in shares of Modine Manufacturing (NYSE:MOD - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 23,906 shares of the auto parts company's stock, valued at approximately $3,174,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Banque Cantonale Vaudoise raised its holdings 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 valued at $117,000 after purchasing an additional 104 shares in the last quarter. Xponance Inc. increased 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 worth $328,000 after buying an additional 153 shares during the last quarter. SummerHaven Investment Management LLC raised its holdings in Modine Manufacturing by 0.7% during 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 buying an additional 155 shares in the last quarter. Ameritas Advisory Services LLC lifted its position in shares of Modine Manufacturing by 2.9% in the second quarter. Ameritas Advisory Services LLC now owns 7,000 shares of the auto parts company's stock worth $701,000 after buying an additional 200 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC boosted 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 acquiring an additional 212 shares in the last quarter. 95.23% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on MOD shares. Oppenheimer raised their price objective on Modine Manufacturing from $144.00 to $145.00 and gave the company an "outperform" rating in a research note on Thursday, October 31st. DA Davidson lifted their price target 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. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $146.67.

Modine Manufacturing Stock Performance

NYSE:MOD traded down $2.96 during mid-day trading on Thursday, hitting $137.65. 321,124 shares of the company's stock traded hands, compared to its average volume of 837,832. The firm has a market capitalization of $7.23 billion, a price-to-earnings ratio of 45.13, a price-to-earnings-growth ratio of 1.07 and a beta of 2.31. The firm has a 50 day moving average of $130.30 and a two-hundred day moving average of $114.33. The company has a current ratio of 1.77, a quick ratio of 1.09 and a debt-to-equity ratio of 0.41. Modine Manufacturing has a 12 month low of $50.59 and a 12 month high of $146.84.

Modine Manufacturing (NYSE:MOD - Get Free Report) last posted its quarterly earnings data 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. Modine Manufacturing had a return on equity of 23.96% and a net margin of 6.59%. The company had revenue of $658.00 million during the quarter, compared to analysts' expectations of $646.86 million. During the same period in the prior year, the business earned $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, equities analysts forecast that Modine Manufacturing will post 3.83 earnings per share for the current fiscal 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.