Sanctuary Advisors LLC Acquires Shares of 14,287 Modine Manufacturing (NYSE:MOD)

Sanctuary Advisors LLC acquired a new stake in Modine Manufacturing (NYSE:MOD - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 14,287 shares of the auto parts company's stock, valued at approximately $1,382,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of Modine Manufacturing by 27.3% during the 1st quarter. Vanguard Group Inc. now owns 3,909,016 shares of the auto parts company's stock worth $372,099,000 after buying an additional 838,460 shares during the period. Capital International Investors lifted its stake in Modine Manufacturing by 40.6% in the first quarter. Capital International Investors now owns 1,425,845 shares of the auto parts company's stock valued at $135,726,000 after buying an additional 411,946 shares in the last quarter. Driehaus Capital Management LLC lifted its stake 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 valued at $110,403,000 after buying an additional 272,174 shares in the last quarter. Hennessy Advisors Inc. lifted its stake in Modine Manufacturing by 20.4% in the first quarter. Hennessy Advisors Inc. now owns 714,400 shares of the auto parts company's stock valued at $68,004,000 after buying an additional 121,200 shares in the last quarter. Finally, Fred Alger Management LLC lifted its stake in Modine Manufacturing by 5.1% in the second quarter. Fred Alger Management LLC now owns 369,840 shares of the auto parts company's stock valued at $37,054,000 after buying an additional 17,889 shares in the last quarter. Institutional investors and hedge funds own 95.23% of the company's stock.

Analysts Set New Price Targets

MOD has been the topic of a number of research reports. DA Davidson boosted their price objective on shares of Modine Manufacturing from $140.00 to $155.00 and gave the stock a "buy" rating in a research report on Tuesday, September 24th. B. Riley boosted their target price 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. Oppenheimer restated an "outperform" rating and set a $135.00 target price on shares of Modine Manufacturing in a report on Thursday, September 12th. Finally, William Blair began coverage on shares of Modine Manufacturing in a report on Monday, July 29th. They set an "outperform" rating on the stock. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $143.33.

Modine Manufacturing Stock Performance

Shares of MOD stock traded up $3.25 on Friday, hitting $134.20. The company's stock had a trading volume of 589,326 shares, compared to its average volume of 868,230. Modine Manufacturing has a fifty-two week low of $38.50 and a fifty-two week high of $138.99. The stock's 50 day moving average is $115.59 and its 200-day moving average is $104.78. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.11 and a current ratio of 1.80. The company has a market capitalization of $7.03 billion, a PE ratio of 43.76, a PEG ratio of 1.02 and a beta of 2.22.

Modine Manufacturing (NYSE:MOD - Get Free Report) last posted 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. Modine Manufacturing had a net margin of 6.70% and a return on equity of 24.92%. The business had revenue of $661.50 million during the quarter, compared to analysts' expectations of $633.55 million. During the same quarter in the prior year, the business posted $0.85 earnings per share. Modine Manufacturing's revenue was up 6.3% compared to the same quarter last year. Equities research analysts expect that Modine Manufacturing will post 3.86 earnings per share for the current fiscal year.

Insider Activity at Modine Manufacturing

In related news, Director Marsha C. Williams sold 34,400 shares of the firm's stock in a transaction that occurred 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 owns 144,038 shares in the company, valued at $15,806,730.12. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.40% of the stock is owned by company insiders.

About Modine Manufacturing

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.