Geode Capital Management LLC Grows Stake in Modine Manufacturing (NYSE:MOD)

Geode Capital Management LLC lifted its position in Modine Manufacturing (NYSE:MOD - Free Report) by 0.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,170,958 shares of the auto parts company's stock after purchasing an additional 9,648 shares during the quarter. Geode Capital Management LLC owned about 2.23% of Modine Manufacturing worth $155,522,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. FMR LLC grew its holdings in Modine Manufacturing by 14.0% during the 3rd quarter. FMR LLC now owns 4,417,927 shares of the auto parts company's stock valued at $586,657,000 after buying an additional 543,419 shares in the last quarter. State Street Corp grew its holdings in shares of Modine Manufacturing by 1.5% in the third quarter. State Street Corp now owns 1,219,916 shares of the auto parts company's stock valued at $161,993,000 after purchasing an additional 18,108 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of Modine Manufacturing by 2.4% in the third quarter. Principal Financial Group Inc. now owns 1,152,735 shares of the auto parts company's stock valued at $153,072,000 after purchasing an additional 26,527 shares in the last quarter. Driehaus Capital Management LLC increased its position in Modine Manufacturing by 32.8% in the second quarter. Driehaus Capital Management LLC now owns 1,101,932 shares of the auto parts company's stock worth $110,403,000 after purchasing an additional 272,174 shares during the last quarter. Finally, Wasatch Advisors LP purchased a new stake in Modine Manufacturing during the third quarter valued at $91,193,000. 95.23% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on MOD. Oppenheimer lifted their price objective on shares of Modine Manufacturing from $144.00 to $145.00 and gave the stock an "outperform" rating in a research note on Thursday, October 31st. DA Davidson lifted their price target 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 investment analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, Modine Manufacturing currently has an average rating of "Moderate Buy" and an average price target of $146.67.

Modine Manufacturing Trading Down 5.1 %

Shares of Modine Manufacturing stock traded down $6.84 during trading on Tuesday, hitting $127.70. The stock had a trading volume of 755,027 shares, compared to its average volume of 831,795. The stock has a market cap of $6.70 billion, a PE ratio of 41.87, a PEG ratio of 1.01 and a beta of 2.31. Modine Manufacturing has a 12 month low of $55.87 and a 12 month high of $146.84. The firm's fifty day simple moving average is $130.29 and its 200-day simple moving average is $116.29. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.77 and a quick ratio of 1.09.

Modine Manufacturing (NYSE:MOD - Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The auto parts company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.05. The business had revenue of $658.00 million during the quarter, compared to the consensus estimate of $646.86 million. Modine Manufacturing had a net margin of 6.59% and a return on equity of 23.96%. The firm's quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.89 earnings per share. As a group, sell-side analysts expect that Modine Manufacturing will post 3.83 EPS 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.