Peregrine Asset Advisers Inc. Acquires 21,452 Shares of Modine Manufacturing (NYSE:MOD)

Peregrine Asset Advisers Inc. raised its stake in Modine Manufacturing (NYSE:MOD - Free Report) by 61.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 56,290 shares of the auto parts company's stock after purchasing an additional 21,452 shares during the period. Modine Manufacturing makes up approximately 2.6% of Peregrine Asset Advisers Inc.'s holdings, making the stock its 7th biggest position. Peregrine Asset Advisers Inc. owned 0.11% of Modine Manufacturing worth $7,475,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Colonial River Investments LLC bought a new position in Modine Manufacturing in the 3rd quarter worth approximately $465,000. Axxcess Wealth Management LLC bought a new stake in Modine Manufacturing during the third quarter worth $463,000. Assetmark Inc. boosted its position in Modine Manufacturing by 176.5% during the third quarter. Assetmark Inc. now owns 8,894 shares of the auto parts company's stock worth $1,181,000 after purchasing an additional 5,677 shares during the period. Fiera Capital Corp acquired a new position in Modine Manufacturing in the 3rd quarter valued at $21,195,000. Finally, Principal Financial Group Inc. increased its stake in Modine Manufacturing by 2.4% during the 3rd quarter. Principal Financial Group Inc. now owns 1,152,735 shares of the auto parts company's stock worth $153,072,000 after acquiring an additional 26,527 shares during the period. 95.23% of the stock is owned by institutional investors and hedge funds.

Modine Manufacturing Stock Up 1.3 %

Shares of MOD traded up $1.61 on Monday, reaching $129.73. The stock had a trading volume of 268,700 shares, compared to its average volume of 856,007. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.09 and a current ratio of 1.77. The firm has a market capitalization of $6.81 billion, a price-to-earnings ratio of 43.01, a price-to-earnings-growth ratio of 0.98 and a beta of 2.25. The company has a 50-day simple moving average of $123.21 and a 200-day simple moving average of $110.02. Modine Manufacturing has a 12-month low of $44.69 and a 12-month high of $141.72.

Modine Manufacturing (NYSE:MOD - Get Free Report) last posted 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 for the quarter, compared to analysts' expectations of $646.86 million. During the same quarter in the prior year, the company posted $0.89 earnings per share. The business's revenue for the quarter was up 6.0% on a year-over-year basis. Sell-side analysts predict that Modine Manufacturing will post 3.83 EPS for the current year.

Insider Activity

In related news, Director Marsha C. Williams sold 34,400 shares of Modine Manufacturing stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $109.74, for a total value of $3,775,056.00. Following the completion of the sale, the director now directly owns 144,038 shares in the company, valued at $15,806,730.12. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 2.40% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently commented on MOD shares. DA Davidson increased their price objective on shares of Modine Manufacturing from $140.00 to $155.00 and gave the company a "buy" rating in a research note on Tuesday, September 24th. B. Riley boosted their target price on Modine Manufacturing from $125.00 to $140.00 and gave the stock a "buy" rating in a research note on Thursday, August 1st. William Blair initiated coverage on Modine Manufacturing in a research note on Monday, July 29th. They issued an "outperform" rating on the stock. Finally, Oppenheimer boosted their target price on shares of Modine Manufacturing from $144.00 to $145.00 and gave the company an "outperform" rating in a report on Thursday, October 31st. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $146.67.

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.