New York State Common Retirement Fund Increases Holdings in Modine Manufacturing (NYSE:MOD)

New York State Common Retirement Fund raised its position in shares of Modine Manufacturing (NYSE:MOD - Free Report) by 63.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 225,716 shares of the auto parts company's stock after purchasing an additional 87,553 shares during the period. New York State Common Retirement Fund owned 0.43% of Modine Manufacturing worth $29,973,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Modine Manufacturing by 27.3% in the first quarter. Vanguard Group Inc. now owns 3,909,016 shares of the auto parts company's stock worth $372,099,000 after acquiring an additional 838,460 shares during the period. Capital International Investors lifted its stake in Modine Manufacturing by 40.6% in the 1st quarter. Capital International Investors now owns 1,425,845 shares of the auto parts company's stock worth $135,726,000 after purchasing an additional 411,946 shares in the last quarter. Driehaus Capital Management LLC boosted its holdings in Modine Manufacturing by 32.8% in the 2nd quarter. Driehaus Capital Management LLC now owns 1,101,932 shares of the auto parts company's stock valued at $110,403,000 after purchasing an additional 272,174 shares during the period. Fred Alger Management LLC increased its holdings in shares of 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 worth $37,054,000 after purchasing an additional 17,889 shares during the period. Finally, Public Employees Retirement Association of Colorado raised its holdings in shares of Modine Manufacturing by 4,215.8% in the 2nd 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 owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Modine Manufacturing news, Director Marsha C. Williams sold 34,400 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $109.74, for a total transaction of $3,775,056.00. Following the completion of the sale, the director now directly owns 144,038 shares of the company's stock, valued at approximately $15,806,730.12. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 2.40% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages recently commented on MOD. Oppenheimer lifted their target price on shares of Modine Manufacturing from $144.00 to $145.00 and gave the stock an "outperform" rating in a research report on Thursday. DA Davidson lifted their target price on Modine Manufacturing from $140.00 to $155.00 and gave the stock a "buy" rating in a report on Tuesday, September 24th. William Blair started coverage on Modine Manufacturing in a report on Monday, July 29th. They set an "outperform" rating on the stock. Finally, B. Riley upped their target price on shares of Modine Manufacturing from $125.00 to $140.00 and gave the company a "buy" rating in a report on Thursday, August 1st. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $146.67.

Modine Manufacturing Price Performance

MOD traded down $1.86 during trading hours on Monday, hitting $109.77. The company's stock had a trading volume of 735,060 shares, compared to its average volume of 857,971. The business's 50-day moving average price is $122.72 and its 200-day moving average price is $109.01. Modine Manufacturing has a 12 month low of $39.88 and a 12 month high of $141.72. The stock has a market cap of $5.76 billion, a price-to-earnings ratio of 35.99, a P/E/G ratio of 0.90 and a beta of 2.25. 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 (NYSE:MOD - Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The auto parts company reported $0.97 earnings per share for the quarter, beating analysts' consensus estimates of $0.92 by $0.05. The business had revenue of $658.00 million for the quarter, compared to analysts' expectations of $646.86 million. Modine Manufacturing had a net margin of 6.59% and a return on equity of 23.96%. The business's revenue was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.89 earnings per share. Sell-side analysts expect that Modine Manufacturing will post 3.85 earnings per share 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.