Modine Manufacturing (NYSE:MOD) Stock Position Boosted by Principal Financial Group Inc.

Principal Financial Group Inc. increased its position in Modine Manufacturing (NYSE:MOD - Free Report) by 2.4% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,152,735 shares of the auto parts company's stock after purchasing an additional 26,527 shares during the period. Principal Financial Group Inc. owned 2.20% of Modine Manufacturing worth $153,072,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. American Trust acquired a new position in shares of Modine Manufacturing in the 3rd quarter worth approximately $268,000. Franklin Resources Inc. lifted its stake in Modine Manufacturing by 33.2% during the third quarter. Franklin Resources Inc. now owns 266,731 shares of the auto parts company's stock worth $35,550,000 after purchasing an additional 66,484 shares during the last quarter. Virtu Financial LLC acquired a new position in Modine Manufacturing in the third quarter worth $396,000. Invst LLC increased its stake in Modine Manufacturing by 16.1% during the third quarter. Invst LLC now owns 8,245 shares of the auto parts company's stock valued at $1,095,000 after purchasing an additional 1,144 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky raised its holdings in shares of Modine Manufacturing by 11.0% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 16,345 shares of the auto parts company's stock worth $2,170,000 after purchasing an additional 1,619 shares during the period. 95.23% of the stock is owned by institutional investors.

Modine Manufacturing Stock Performance

Shares of Modine Manufacturing stock traded up $0.87 during trading on Friday, hitting $118.89. 980,104 shares of the stock were exchanged, compared to its average volume of 834,698. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.09 and a current ratio of 1.77. Modine Manufacturing has a 12 month low of $56.74 and a 12 month high of $146.84. The stock's fifty day moving average is $129.39 and its 200 day moving average is $116.45. The stock has a market cap of $6.24 billion, a PE ratio of 38.98, a P/E/G ratio of 1.01 and a beta of 2.31.

Modine Manufacturing (NYSE:MOD - Get Free Report) last posted its earnings results on Tuesday, October 29th. The auto parts company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.92 by $0.05. The firm had revenue of $658.00 million during 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%. Modine Manufacturing's quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.89 EPS. As a group, sell-side analysts anticipate that Modine Manufacturing will post 3.83 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. DA Davidson boosted their price objective on shares of Modine Manufacturing from $140.00 to $155.00 and gave the company a "buy" rating in a research report on Tuesday, September 24th. Oppenheimer lifted their target price on Modine Manufacturing from $144.00 to $145.00 and gave the company an "outperform" rating in a research note on Thursday, October 31st. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $146.67.

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.