Arizona State Retirement System Sells 143 Shares of Modine Manufacturing Company (NYSE:MOD)

Arizona State Retirement System decreased its position in Modine Manufacturing Company (NYSE:MOD) by 1.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,308 shares of the auto parts company’s stock after selling 143 shares during the quarter. Arizona State Retirement System’s holdings in Modine Manufacturing were worth $1,098,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in Modine Manufacturing by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 5,058,967 shares of the auto parts company’s stock worth $586,486,000 after purchasing an additional 70,581 shares during the period. Invesco Ltd. grew its stake in Modine Manufacturing by 1.0% in the fourth quarter. Invesco Ltd. now owns 2,012,533 shares of the auto parts company’s stock worth $233,313,000 after purchasing an additional 20,085 shares during the period. Driehaus Capital Management LLC grew its stake in Modine Manufacturing by 2.8% in the fourth quarter. Driehaus Capital Management LLC now owns 1,439,980 shares of the auto parts company’s stock worth $166,937,000 after purchasing an additional 39,193 shares during the period. Wasatch Advisors LP grew its stake in Modine Manufacturing by 108.0% in the fourth quarter. Wasatch Advisors LP now owns 1,428,415 shares of the auto parts company’s stock worth $165,596,000 after purchasing an additional 741,667 shares during the period. Finally, T. Rowe Price Investment Management Inc. grew its stake in Modine Manufacturing by 27.8% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,207,181 shares of the auto parts company’s stock worth $139,949,000 after purchasing an additional 262,936 shares during the period. Institutional investors own 95.23% of the company’s stock.

Analysts Set New Price Targets

MOD has been the topic of several recent analyst reports. KeyCorp initiated coverage on Modine Manufacturing in a research report on Thursday, June 12th. They set an “overweight” rating and a $125.00 price objective on the stock. Wall Street Zen raised Modine Manufacturing from a “hold” rating to a “buy” rating in a research report on Saturday, June 7th. Finally, Oppenheimer raised their price objective on Modine Manufacturing from $121.00 to $122.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 1st. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $135.50.

Modine Manufacturing Stock Up 0.4%

Shares of NYSE MOD opened at $97.85 on Friday. Modine Manufacturing Company has a 1 year low of $64.79 and a 1 year high of $146.84. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.78 and a quick ratio of 1.15. The company has a market capitalization of $5.14 billion, a price-to-earnings ratio of 28.61, a price-to-earnings-growth ratio of 0.64 and a beta of 2.04. The business has a 50-day moving average of $96.50 and a two-hundred day moving average of $94.26.

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