Mackenzie Financial Corp Invests $261,000 in Modine Manufacturing (NYSE:MOD)

Mackenzie Financial Corp bought a new position in shares of Modine Manufacturing (NYSE:MOD) during the 4th quarter, Holdings Channel.com reports. The fund bought 4,365 shares of the auto parts company’s stock, valued at approximately $261,000.

Several other hedge funds also recently made changes to their positions in MOD. Reinhart Partners LLC. bought a new position in shares of Modine Manufacturing during the fourth quarter worth approximately $41,129,000. American Century Companies Inc. increased its stake in Modine Manufacturing by 570.1% in the third quarter. American Century Companies Inc. now owns 700,758 shares of the auto parts company’s stock valued at $32,060,000 after acquiring an additional 596,177 shares during the last quarter. Adage Capital Partners GP L.L.C. increased its stake in Modine Manufacturing by 159.5% in the third quarter. Adage Capital Partners GP L.L.C. now owns 480,118 shares of the auto parts company’s stock valued at $21,965,000 after acquiring an additional 295,118 shares during the last quarter. Lord Abbett & CO. LLC increased its stake in Modine Manufacturing by 142.2% in the third quarter. Lord Abbett & CO. LLC now owns 339,368 shares of the auto parts company’s stock valued at $15,526,000 after acquiring an additional 199,275 shares during the last quarter. Finally, SG Capital Management LLC increased its stake in Modine Manufacturing by 1,457.9% in the third quarter. SG Capital Management LLC now owns 208,659 shares of the auto parts company’s stock valued at $9,546,000 after acquiring an additional 195,265 shares during the last quarter. 95.23% of the stock is owned by institutional investors.

Insider Activity at Modine Manufacturing

In related news, VP Brian Jon Agen sold 16,799 shares of the business’s stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $95.64, for a total value of $1,606,656.36. Following the transaction, the vice president now owns 102,409 shares in the company, valued at $9,794,396.76. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, CFO Michael B. Lucareli sold 82,312 shares of the company’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $90.33, for a total transaction of $7,435,242.96. Following the transaction, the chief financial officer now owns 194,587 shares in the company, valued at $17,577,043.71. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Brian Jon Agen sold 16,799 shares of the company’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $95.64, for a total transaction of $1,606,656.36. Following the transaction, the vice president now owns 102,409 shares in the company, valued at approximately $9,794,396.76. The disclosure for this sale can be found here. Insiders have sold a total of 113,336 shares of company stock worth $10,330,115 over the last quarter. Company insiders own 2.86% of the company’s stock.

Analysts Set New Price Targets

MOD has been the topic of a number of recent analyst reports. B. Riley reissued a “buy” rating and issued a $98.00 price objective (up from $88.00) on shares of Modine Manufacturing in a research note on Tuesday, February 27th. StockNews.com cut shares of Modine Manufacturing from a “buy” rating to a “hold” rating in a research note on Wednesday, January 31st. Oppenheimer initiated coverage on shares of Modine Manufacturing in a research note on Tuesday, March 19th. They issued an “outperform” rating and a $105.00 price objective on the stock. Finally, DA Davidson reissued a “buy” rating and issued a $90.00 price objective on shares of Modine Manufacturing in a research note on Tuesday, February 27th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $97.67.

Modine Manufacturing Price Performance

Shares of NYSE:MOD opened at $96.74 on Monday. The firm has a market cap of $5.05 billion, a PE ratio of 22.82, a price-to-earnings-growth ratio of 0.74 and a beta of 2.29. The firm’s fifty day moving average is $90.10 and its 200-day moving average is $68.01. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.21 and a current ratio of 1.93. Modine Manufacturing has a 52 week low of $19.41 and a 52 week high of $106.01.

Modine Manufacturing (NYSE:MOD) last issued its quarterly earnings results on Tuesday, January 30th. The auto parts company reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.17. The company had revenue of $561.40 million for the quarter, compared to analyst estimates of $594.84 million. Modine Manufacturing had a net margin of 9.31% and a return on equity of 25.28%. Modine Manufacturing’s revenue was up .2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.48 earnings per share. Sell-side analysts predict that Modine Manufacturing will post 3.27 earnings per share for the current year.

Modine Manufacturing Profile

Modine Manufacturing Company provides engineered heat transfer systems and heat transfer components for use in on- and off-highway original equipment manufacturer (OEM) vehicular applications. It operates through Climate Solutions and Performance Technologies segments. The company offers gas-fired, hydronic, electric, and oil-fired unit heaters; indoor and outdoor duct furnaces; infrared units; perimeter heating products, such as commercial fin-tube radiation, cabinet unit heaters, and convectors; roof-mounted direct- and indirect-fired makeup air units; unit ventilators; single packaged vertical units; precision air conditioning units for data center applications; air handler units; fan walls; chillers; ceiling cassettes; hybrid fan coils; and condensers and condensing units.