Modine Manufacturing (NYSE:MOD) Shares Bought by Harbor Capital Advisors Inc.

Harbor Capital Advisors Inc. lifted its holdings in shares of Modine Manufacturing (NYSE:MOD - Free Report) by 58.0% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 69,839 shares of the auto parts company's stock after acquiring an additional 25,648 shares during the period. Harbor Capital Advisors Inc. owned 0.13% of Modine Manufacturing worth $9,274,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the business. Acadian Asset Management LLC purchased a new position in shares of Modine Manufacturing during the first quarter worth about $37,000. Opal Wealth Advisors LLC acquired a new position in Modine Manufacturing during the second quarter worth approximately $51,000. West Oak Capital LLC lifted its stake in Modine Manufacturing by 300.0% in 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 last quarter. Fifth Third Bancorp acquired a new stake in shares of Modine Manufacturing in the second quarter valued at approximately $64,000. Finally, DekaBank Deutsche Girozentrale acquired a new position in shares of Modine Manufacturing in the 2nd quarter valued at $68,000. Hedge funds and other institutional investors own 95.23% of the company's stock.

Insider Activity

In related news, Director Marsha C. Williams sold 34,400 shares of the company's 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 in the company, valued at $15,806,730.12. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 2.40% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. DA Davidson lifted 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. William Blair initiated coverage on Modine Manufacturing in a research report on Monday, July 29th. They set an "outperform" rating for the company. Oppenheimer increased their price target on Modine Manufacturing from $144.00 to $145.00 and gave the stock an "outperform" rating in a report on Thursday. Finally, B. Riley boosted their price objective on shares of Modine Manufacturing from $125.00 to $140.00 and gave the company a "buy" rating in a research note on Thursday, August 1st. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $146.67.

Modine Manufacturing Price Performance

Shares of MOD traded down $6.14 during mid-day trading on Friday, hitting $111.63. The company's stock had a trading volume of 982,902 shares, compared to its average volume of 638,140. The company has a current ratio of 1.77, a quick ratio of 1.11 and a debt-to-equity ratio of 0.41. Modine Manufacturing has a 1-year low of $39.50 and a 1-year high of $141.72. The firm has a market capitalization of $5.86 billion, a P/E ratio of 36.60, a P/E/G ratio of 0.90 and a beta of 2.25. The firm has a 50-day simple moving average of $122.85 and a 200 day simple moving average of $108.83.

Modine Manufacturing (NYSE:MOD - Get Free Report) last released its 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 return on equity of 23.96% and a net margin of 6.59%. The company had revenue of $658.00 million during the quarter, compared to the consensus estimate of $646.86 million. During the same quarter last year, the company earned $0.89 earnings per share. Modine Manufacturing's quarterly revenue was up 6.0% compared to the same quarter last year. Analysts predict that Modine Manufacturing will post 3.85 EPS for the current fiscal year.

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.