Creative Planning Increases Stock Holdings in Modine Manufacturing (NYSE:MOD)

Creative Planning increased its holdings in Modine Manufacturing (NYSE:MOD - Free Report) by 52.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 14,764 shares of the auto parts company's stock after acquiring an additional 5,068 shares during the period. Creative Planning's holdings in Modine Manufacturing were worth $1,961,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in MOD. Vanguard Group Inc. boosted its position in shares of Modine Manufacturing by 27.3% during the first 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 boosted its position in shares of Modine Manufacturing by 40.6% during the first quarter. Capital International Investors now owns 1,425,845 shares of the auto parts company's stock worth $135,726,000 after buying an additional 411,946 shares during the period. Driehaus Capital Management LLC boosted its position in shares of Modine Manufacturing by 32.8% during 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 buying an additional 272,174 shares during the period. Fred Alger Management LLC boosted its position in shares of Modine Manufacturing by 5.1% during the second quarter. Fred Alger Management LLC now owns 369,840 shares of the auto parts company's stock worth $37,054,000 after buying an additional 17,889 shares during the period. Finally, Public Employees Retirement Association of Colorado raised its stake in shares of Modine Manufacturing by 4,215.8% in the second quarter. Public Employees Retirement Association of Colorado now owns 260,547 shares of the auto parts company's stock valued at $26,104,000 after acquiring an additional 254,510 shares in the last quarter. 95.23% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Modine Manufacturing news, Director Marsha C. Williams sold 34,400 shares of Modine Manufacturing stock in a transaction that occurred on 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 sale, the director now owns 144,038 shares of the company's stock, valued at approximately $15,806,730.12. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.40% of the company's stock.

Modine Manufacturing Stock Performance

Shares of MOD traded down $0.75 during midday trading on Tuesday, reaching $130.31. 718,110 shares of the stock were exchanged, compared to its average volume of 853,086. The business's 50-day moving average price is $122.30 and its 200 day moving average price is $107.97. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.80 and a quick ratio of 1.11. Modine Manufacturing has a twelve month low of $38.61 and a twelve month high of $141.72. The company has a market capitalization of $6.83 billion, a price-to-earnings ratio of 43.01, a PEG ratio of 0.98 and a beta of 2.22.

Modine Manufacturing (NYSE:MOD - Get Free Report) last released its quarterly earnings results on Tuesday, July 30th. The auto parts company reported $1.04 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $633.55 million. During the same quarter last year, the company posted $0.85 earnings per share. The business's revenue was up 6.3% on a year-over-year basis. On average, sell-side analysts expect that Modine Manufacturing will post 3.86 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. B. Riley increased their price objective on Modine Manufacturing from $125.00 to $140.00 and gave the company a "buy" rating in a research note on Thursday, August 1st. Oppenheimer raised their price target on Modine Manufacturing from $135.00 to $144.00 and gave the company an "outperform" rating in a research note on Monday, October 14th. William Blair initiated coverage on Modine Manufacturing in a research report on Monday, July 29th. They set an "outperform" rating on the stock. Finally, DA Davidson lifted their target price 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 assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $146.33.

Modine Manufacturing Company 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.