Modine Manufacturing (NYSE:MOD) Shares Acquired by Assetmark Inc.

Assetmark Inc. increased its holdings in Modine Manufacturing (NYSE:MOD - Free Report) by 176.5% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,894 shares of the auto parts company's stock after buying an additional 5,677 shares during the period. Assetmark Inc.'s holdings in Modine Manufacturing were worth $1,181,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Acadian Asset Management LLC acquired a new position in Modine Manufacturing in the 1st quarter valued at $37,000. Opal Wealth Advisors LLC purchased a new stake in Modine Manufacturing during the 2nd quarter worth about $51,000. West Oak Capital LLC lifted its stake in Modine Manufacturing by 300.0% in the second quarter. West Oak Capital LLC now owns 600 shares of the auto parts company's stock worth $60,000 after acquiring an additional 450 shares during the last quarter. Fifth Third Bancorp acquired a new position in Modine Manufacturing during the 2nd quarter worth approximately $64,000. Finally, DekaBank Deutsche Girozentrale purchased a new stake in shares of Modine Manufacturing in the 2nd quarter valued at approximately $68,000. Hedge funds and other institutional investors own 95.23% of the company's stock.

Wall Street Analyst Weigh In

MOD has been the subject of a number of analyst reports. William Blair assumed coverage on shares of Modine Manufacturing in a research note on Monday, July 29th. They set an "outperform" rating for the company. Oppenheimer increased their target price 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. B. Riley upped their price objective on shares of Modine Manufacturing from $125.00 to $140.00 and gave the company a "buy" rating in a research note on Thursday, August 1st. Finally, DA Davidson lifted 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. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $146.67.

Modine Manufacturing Price Performance

Modine Manufacturing stock traded up $1.07 during mid-day trading on Friday, hitting $121.24. 223,808 shares of the company were exchanged, compared to its average volume of 852,185. 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 capitalization of $6.37 billion, a P/E ratio of 40.01, a PEG ratio of 0.98 and a beta of 2.25. Modine Manufacturing has a 12-month low of $48.10 and a 12-month high of $141.72. The business's 50 day simple moving average is $124.49 and its two-hundred day simple moving average is $110.67.

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