Modine Manufacturing Company (NYSE:MOD) Shares Purchased by KBC Group NV

KBC Group NV increased its position in shares of Modine Manufacturing Company (NYSE:MOD) by 16.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,411 shares of the auto parts company’s stock after purchasing an additional 333 shares during the period. KBC Group NV’s holdings in Modine Manufacturing were worth $185,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Arizona State Retirement System increased its position in Modine Manufacturing by 0.8% during the fourth quarter. Arizona State Retirement System now owns 14,451 shares of the auto parts company’s stock worth $1,675,000 after purchasing an additional 118 shares during the last quarter. Envestnet Portfolio Solutions Inc. increased its position in shares of Modine Manufacturing by 8.2% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 1,791 shares of the auto parts company’s stock valued at $208,000 after acquiring an additional 136 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Modine Manufacturing by 63.1% during the first quarter. GAMMA Investing LLC now owns 367 shares of the auto parts company’s stock valued at $28,000 after acquiring an additional 142 shares during the last quarter. Summit Investment Advisors Inc. increased its position in shares of Modine Manufacturing by 2.8% during the fourth quarter. Summit Investment Advisors Inc. now owns 5,284 shares of the auto parts company’s stock valued at $613,000 after acquiring an additional 146 shares during the last quarter. Finally, Signaturefd LLC increased its position in shares of Modine Manufacturing by 6.0% during the fourth quarter. Signaturefd LLC now owns 2,786 shares of the auto parts company’s stock valued at $323,000 after acquiring an additional 157 shares during the last quarter. 95.23% of the stock is currently owned by institutional investors and hedge funds.

Modine Manufacturing Trading Up 2.2%

NYSE MOD opened at $104.47 on Monday. The firm has a 50 day simple moving average of $95.09 and a 200-day simple moving average of $95.69. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.15 and a current ratio of 1.78. Modine Manufacturing Company has a one year low of $64.79 and a one year high of $146.84. The firm has a market cap of $5.47 billion, a price-to-earnings ratio of 30.55, a PEG ratio of 0.68 and a beta of 2.04.

Modine Manufacturing (NYSE:MOD) last posted its quarterly earnings data on Tuesday, May 20th. The auto parts company reported $1.12 EPS for the quarter, beating the consensus estimate of $0.96 by $0.16. Modine Manufacturing had a net margin of 7.12% and a return on equity of 25.31%. The business had revenue of $647.20 million during the quarter, compared to analyst estimates of $633.13 million. During the same quarter last year, the firm posted $0.77 earnings per share. The business’s revenue for the quarter was up 7.2% compared to the same quarter last year. Equities research analysts anticipate that Modine Manufacturing Company will post 3.88 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. DA Davidson reiterated a “buy” rating and set a $155.00 price target on shares of Modine Manufacturing in a research report on Monday, March 17th. Oppenheimer lifted their price target on shares of Modine Manufacturing from $121.00 to $122.00 and gave the company an “outperform” rating in a research report on Tuesday, July 1st. KeyCorp assumed coverage on shares of Modine Manufacturing in a research report on Thursday, June 12th. They set an “overweight” rating and a $125.00 price target for the company. Finally, Wall Street Zen upgraded shares of Modine Manufacturing from a “hold” rating to a “buy” rating in a research report on Saturday, June 7th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $135.50.

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.