Fmr LLC Increases Stake in Modine Manufacturing (NYSE:MOD)

FMR LLC boosted its stake in shares of Modine Manufacturing (NYSE:MOD - Free Report) by 14.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,417,927 shares of the auto parts company's stock after acquiring an additional 543,419 shares during the quarter. FMR LLC owned about 8.42% of Modine Manufacturing worth $586,657,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Opal Wealth Advisors LLC acquired a new stake in shares of Modine Manufacturing during the second quarter worth $51,000. West Oak Capital LLC boosted its holdings in shares of Modine Manufacturing by 300.0% in the second quarter. West Oak Capital LLC now owns 600 shares of the auto parts company's stock valued at $60,000 after acquiring an additional 450 shares in the last quarter. Fifth Third Bancorp acquired a new stake in shares of Modine Manufacturing in the 2nd quarter valued at approximately $64,000. DekaBank Deutsche Girozentrale purchased a new stake in shares of Modine Manufacturing in the second quarter valued at approximately $68,000. Finally, Private Trust Co. NA grew its holdings in Modine Manufacturing by 650.5% during the third quarter. Private Trust Co. NA now owns 773 shares of the auto parts company's stock worth $103,000 after acquiring an additional 670 shares during the period. 95.23% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently commented on MOD. B. Riley boosted their price objective on shares of Modine Manufacturing from $125.00 to $140.00 and gave the stock a "buy" rating in a report on Thursday, August 1st. DA Davidson upped their price target on Modine Manufacturing from $140.00 to $155.00 and gave the stock a "buy" rating in a report on Tuesday, September 24th. Finally, 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. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $146.67.

Modine Manufacturing Price Performance

Shares of Modine Manufacturing stock traded up $2.42 during trading on Friday, hitting $135.79. 233,918 shares of the company were exchanged, compared to its average volume of 843,533. Modine Manufacturing has a fifty-two week low of $48.88 and a fifty-two week high of $146.84. 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 firm has a 50 day moving average price of $129.55 and a 200 day moving average price of $113.15. The stock has a market capitalization of $7.13 billion, a price-to-earnings ratio of 44.52, a P/E/G ratio of 1.02 and a beta of 2.25.

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

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.