Eagle Asset Management Inc. Makes New $9.38 Million Investment in Modine Manufacturing (NYSE:MOD)

Eagle Asset Management Inc. bought a new position in shares of Modine Manufacturing (NYSE:MOD - Free Report) during the third quarter, according to its most recent filing with the SEC. The fund bought 73,202 shares of the auto parts company's stock, valued at approximately $9,379,000. Eagle Asset Management Inc. owned 0.14% of Modine Manufacturing at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. raised its position in Modine Manufacturing by 1.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 604,271 shares of the auto parts company's stock worth $80,241,000 after acquiring an additional 6,871 shares during the period. Intech Investment Management LLC purchased a new position in Modine Manufacturing in the third quarter valued at approximately $2,260,000. B. Metzler seel. Sohn & Co. Holding AG bought a new position in Modine Manufacturing during the third quarter valued at $1,311,000. Pathstone Holdings LLC increased its position in Modine Manufacturing by 48.2% in the third quarter. Pathstone Holdings LLC now owns 10,421 shares of the auto parts company's stock worth $1,384,000 after buying an additional 3,391 shares during the last quarter. Finally, Prudent Man Advisors LLC bought a new stake in shares of Modine Manufacturing in the third quarter valued at $205,000. 95.23% of the stock is owned by hedge funds and other institutional investors.

Modine Manufacturing Price Performance

NYSE:MOD traded up $2.73 during mid-day trading on Friday, hitting $143.22. 368,245 shares of the stock traded hands, compared to its average volume of 800,979. The business's 50-day moving average price is $128.14 and its 200 day moving average price is $112.35. The company has a quick ratio of 1.09, a current ratio of 1.77 and a debt-to-equity ratio of 0.41. The company has a market cap of $7.52 billion, a PE ratio of 46.96, a price-to-earnings-growth ratio of 1.08 and a beta of 2.25. Modine Manufacturing has a 12-month low of $48.88 and a 12-month high of $144.02.

Modine Manufacturing (NYSE:MOD - Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The auto parts company reported $0.97 EPS for the quarter, beating 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 firm had revenue of $658.00 million during the quarter, compared to analyst estimates of $646.86 million. The business's revenue for the quarter was up 6.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.89 EPS. On average, analysts expect that Modine Manufacturing will post 3.83 EPS for the current fiscal year.

Wall Street Analyst Weigh In

MOD has been the topic of a number of research reports. Oppenheimer boosted 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. B. Riley upped their price target 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. William Blair started coverage on shares of Modine Manufacturing in a research note on Monday, July 29th. They issued an "outperform" rating for the company. Finally, DA Davidson increased their target price on Modine Manufacturing from $140.00 to $155.00 and gave the stock 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 stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average 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.