Ausbil Investment Management Ltd Raises Stock Position in Modine Manufacturing (NYSE:MOD)

Ausbil Investment Management Ltd grew its stake in Modine Manufacturing (NYSE:MOD - Free Report) by 42.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,796 shares of the auto parts company's stock after acquiring an additional 8,031 shares during the period. Modine Manufacturing accounts for 1.0% of Ausbil Investment Management Ltd's holdings, making the stock its 29th biggest holding. Ausbil Investment Management Ltd owned about 0.05% of Modine Manufacturing worth $3,558,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Acadian Asset Management LLC purchased a new position in Modine Manufacturing during the 1st quarter worth $37,000. Opal Wealth Advisors LLC bought a new position in shares of Modine Manufacturing during the 2nd quarter worth $51,000. West Oak Capital LLC increased its stake in shares of Modine Manufacturing by 300.0% during the second quarter. West Oak Capital LLC now owns 600 shares of the auto parts company's stock valued at $60,000 after buying an additional 450 shares during the period. Fifth Third Bancorp bought a new stake in shares of Modine Manufacturing in the second quarter valued at about $64,000. Finally, DekaBank Deutsche Girozentrale purchased a new stake in Modine Manufacturing in the second quarter worth about $68,000. 95.23% of the stock is owned by hedge funds and other institutional investors.

Modine Manufacturing Stock Down 2.9 %

Shares of NYSE MOD traded down $3.67 during trading hours on Thursday, hitting $124.61. 728,171 shares of the stock were exchanged, compared to its average volume of 856,495. Modine Manufacturing has a 12 month low of $38.50 and a 12 month high of $141.72. The firm has a fifty day moving average price of $121.24 and a 200-day moving average price of $107.15. 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 company has a market cap of $6.53 billion, a PE ratio of 41.13, a PEG ratio of 1.02 and a beta of 2.22.

Modine Manufacturing (NYSE:MOD - Get Free Report) last issued its quarterly earnings data on Tuesday, July 30th. The auto parts company reported $1.04 EPS for the quarter, beating the consensus estimate of $0.86 by $0.18. Modine Manufacturing had a return on equity of 24.92% and a net margin of 6.70%. The firm had revenue of $661.50 million during the quarter, compared to analyst estimates of $633.55 million. During the same quarter in the prior year, the business posted $0.85 EPS. The business's revenue for the quarter was up 6.3% compared to the same quarter last year. On average, sell-side analysts expect that Modine Manufacturing will post 3.86 EPS for the current year.

Insider Transactions at Modine Manufacturing

In related news, Director Marsha C. Williams sold 34,400 shares of the 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 directly owns 144,038 shares of the company's stock, valued at $15,806,730.12. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 2.40% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently commented on MOD. Oppenheimer boosted their price target on shares of Modine Manufacturing from $135.00 to $144.00 and gave the company an "outperform" rating in a report on Monday, October 14th. 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 research note on Thursday, August 1st. DA Davidson increased their target price on Modine Manufacturing from $140.00 to $155.00 and gave the company a "buy" rating in a research report on Tuesday, September 24th. Finally, William Blair initiated coverage on Modine Manufacturing in a research report on Monday, July 29th. They issued an "outperform" rating for the company. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Modine Manufacturing has an average rating of "Moderate Buy" and a consensus target price of $146.33.

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.