Paloma Partners Management Co Purchases Shares of 6,162 Modine Manufacturing (NYSE:MOD)

Paloma Partners Management Co purchased a new stake in shares of Modine Manufacturing (NYSE:MOD - Free Report) in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 6,162 shares of the auto parts company's stock, valued at approximately $818,000.

Several other institutional investors have also recently bought and sold shares of the business. SG Americas Securities LLC grew its holdings in Modine Manufacturing by 311.1% during the second quarter. SG Americas Securities LLC now owns 32,128 shares of the auto parts company's stock worth $3,219,000 after buying an additional 24,312 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in shares of Modine Manufacturing by 90.9% in the third quarter. Farther Finance Advisors LLC now owns 1,031 shares of the auto parts company's stock valued at $137,000 after purchasing an additional 491 shares during the last quarter. Harbor Capital Advisors Inc. raised its holdings in shares of Modine Manufacturing by 58.0% in the third quarter. Harbor Capital Advisors Inc. now owns 69,839 shares of the auto parts company's stock valued at $9,274,000 after purchasing an additional 25,648 shares during the last quarter. Fred Alger Management LLC boosted its holdings in 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 purchasing an additional 17,889 shares during the last quarter. Finally, Victory Capital Management Inc. grew its position in Modine Manufacturing by 20.1% in the 3rd quarter. Victory Capital Management Inc. now owns 157,200 shares of the auto parts company's stock worth $20,875,000 after purchasing an additional 26,348 shares in the last quarter. Institutional investors and hedge funds own 95.23% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. 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, October 31st. DA Davidson boosted their price objective 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 issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $146.67.

Modine Manufacturing Stock Performance

Shares of Modine Manufacturing stock traded up $1.55 on Tuesday, reaching $139.29. 483,495 shares of the company traded hands, compared to its average volume of 841,763. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.77 and a quick ratio of 1.09. The firm has a market capitalization of $7.31 billion, a PE ratio of 45.67, a PEG ratio of 1.06 and a beta of 2.31. The company has a 50 day moving average of $130.03 and a 200 day moving average of $113.98. Modine Manufacturing has a 52 week low of $50.59 and a 52 week high of $146.84.

Modine Manufacturing (NYSE:MOD - Get Free Report) last released its earnings results on Tuesday, October 29th. The auto parts company reported $0.97 earnings per share (EPS) for the quarter, topping 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 business had revenue of $658.00 million during the quarter, compared to the consensus estimate of $646.86 million. During the same period last year, the business posted $0.89 earnings per share. The business's revenue for the quarter was up 6.0% on a year-over-year basis. Equities analysts forecast that Modine Manufacturing will post 3.83 earnings per share for the current year.

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.