Fred Alger Management LLC Increases Holdings in Modine Manufacturing (NYSE:MOD)

Fred Alger Management LLC raised its holdings in shares of Modine Manufacturing (NYSE:MOD - Free Report) by 5.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 369,840 shares of the auto parts company's stock after buying an additional 17,889 shares during the quarter. Fred Alger Management LLC owned about 0.71% of Modine Manufacturing worth $37,054,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of the stock. Banque Cantonale Vaudoise lifted its position in Modine Manufacturing by 9.8% in the 2nd quarter. Banque Cantonale Vaudoise now owns 1,165 shares of the auto parts company's stock worth $117,000 after buying an additional 104 shares during the last quarter. Riverwater Partners LLC raised its stake in shares of Modine Manufacturing by 0.6% during the first quarter. Riverwater Partners LLC now owns 23,633 shares of the auto parts company's stock worth $2,250,000 after acquiring an additional 152 shares in the last quarter. Xponance Inc. lifted its holdings in shares of Modine Manufacturing by 4.9% in the 2nd quarter. Xponance Inc. now owns 3,270 shares of the auto parts company's stock worth $328,000 after acquiring an additional 153 shares during the last quarter. SummerHaven Investment Management LLC boosted its stake in shares of Modine Manufacturing by 0.7% in the 2nd quarter. SummerHaven Investment Management LLC now owns 21,194 shares of the auto parts company's stock valued at $2,123,000 after purchasing an additional 155 shares in the last quarter. Finally, Horizon Investment Services LLC grew its holdings in shares of Modine Manufacturing by 4.4% during the 1st quarter. Horizon Investment Services LLC now owns 4,558 shares of the auto parts company's stock valued at $434,000 after purchasing an additional 191 shares during the last quarter. 95.23% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

MOD has been the subject of several analyst reports. Oppenheimer restated an "outperform" rating and set a $135.00 price target on shares of Modine Manufacturing in a research report on Thursday, September 12th. William Blair assumed coverage on Modine Manufacturing in a report on Monday, July 29th. They set an "outperform" rating for the company. 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 note on Tuesday. Finally, B. Riley boosted their price objective on Modine Manufacturing from $125.00 to $140.00 and gave the company a "buy" rating in a research report on Thursday, August 1st. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $143.33.

Modine Manufacturing Trading Up 0.0 %

Shares of Modine Manufacturing stock traded up $0.03 during trading on Wednesday, reaching $133.72. 857,135 shares of the stock were exchanged, compared to its average volume of 891,718. Modine Manufacturing has a 1 year low of $38.50 and a 1 year high of $138.99. The firm has a market cap of $7.01 billion, a price-to-earnings ratio of 44.13, a price-to-earnings-growth ratio of 0.97 and a beta of 2.22. The company has a quick ratio of 1.11, a current ratio of 1.80 and a debt-to-equity ratio of 0.51. The stock's fifty day moving average is $109.64 and its 200 day moving average is $101.50.

Modine Manufacturing (NYSE:MOD - Get Free Report) last released its quarterly earnings data on Tuesday, July 30th. The auto parts company reported $1.04 earnings per share for the quarter, topping the consensus estimate of $0.86 by $0.18. The business had revenue of $661.50 million during the quarter, compared to analysts' expectations of $633.55 million. Modine Manufacturing had a return on equity of 24.92% and a net margin of 6.70%. The business's revenue was up 6.3% on a year-over-year basis. During the same quarter last year, the business posted $0.85 EPS. As a group, equities research analysts expect that Modine Manufacturing will post 3.85 earnings per share for the current fiscal year.

Insider Activity at Modine Manufacturing

In other Modine Manufacturing news, Director Marsha C. Williams sold 34,400 shares of the company's stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $109.74, for a total value of $3,775,056.00. Following the completion of the transaction, the director now directly owns 144,038 shares in the company, valued at approximately $15,806,730.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.40% of the stock is currently owned by company insiders.

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.