Alberta Investment Management Corp Raises Position in Modine Manufacturing (NYSE:MOD)

Alberta Investment Management Corp grew its stake in shares of Modine Manufacturing (NYSE:MOD - Free Report) by 27.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 58,437 shares of the auto parts company's stock after acquiring an additional 12,536 shares during the period. Alberta Investment Management Corp owned 0.11% of Modine Manufacturing worth $6,775,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Nisa Investment Advisors LLC grew its position in Modine Manufacturing by 6.5% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,353 shares of the auto parts company's stock worth $157,000 after buying an additional 82 shares in the last quarter. Truist Financial Corp grew its position in Modine Manufacturing by 0.5% during the fourth quarter. Truist Financial Corp now owns 34,267 shares of the auto parts company's stock worth $3,973,000 after buying an additional 159 shares in the last quarter. Principal Securities Inc. grew its position in Modine Manufacturing by 97.8% during the fourth quarter. Principal Securities Inc. now owns 544 shares of the auto parts company's stock worth $63,000 after buying an additional 269 shares in the last quarter. Legend Financial Advisors Inc. grew its position in 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 worth $1,151,000 after buying an additional 279 shares in the last quarter. Finally, Inspire Investing LLC grew its position in Modine Manufacturing by 10.4% during the fourth quarter. Inspire Investing LLC now owns 3,442 shares of the auto parts company's stock worth $399,000 after buying an additional 325 shares in the last quarter. Hedge funds and other institutional investors own 95.23% of the company's stock.

Modine Manufacturing Price Performance

MOD stock traded down $7.36 during mid-day trading on Friday, hitting $86.73. 1,119,798 shares of the stock were exchanged, compared to its average volume of 1,349,354. The stock has a market capitalization of $4.56 billion, a price-to-earnings ratio of 29.17, a PEG ratio of 0.67 and a beta of 2.31. The business has a fifty day moving average price of $114.04 and a 200 day moving average price of $119.71. Modine Manufacturing has a 12 month low of $78.58 and a 12 month high of $146.84. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.87 and a quick ratio of 1.18.

Modine Manufacturing (NYSE:MOD - Get Free Report) last posted its quarterly earnings results on Tuesday, February 4th. The auto parts company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.13. Modine Manufacturing had a net margin of 6.31% and a return on equity of 24.25%. On average, sell-side analysts anticipate that Modine Manufacturing will post 3.88 EPS for the current year.

Analyst Ratings Changes

Separately, Oppenheimer boosted their target price on Modine Manufacturing from $144.00 to $145.00 and gave the stock an "outperform" rating in a research report on Thursday, October 31st.

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.