IFP Advisors Inc Purchases 113 Shares of Modine Manufacturing Company (NYSE:MOD)

IFP Advisors Inc grew its position in shares of Modine Manufacturing Company (NYSE:MOD) by 14.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 911 shares of the auto parts company’s stock after buying an additional 113 shares during the period. IFP Advisors Inc’s holdings in Modine Manufacturing were worth $70,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in MOD. Invesco Ltd. increased its position in shares of 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 increased its position in shares of 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 increased its position in shares of 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. T. Rowe Price Investment Management Inc. increased its position in shares of 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. Finally, Reinhart Partners LLC. increased its position in shares of Modine Manufacturing by 187.3% in the first quarter. Reinhart Partners LLC. now owns 875,834 shares of the auto parts company’s stock worth $67,220,000 after purchasing an additional 571,026 shares during the period. Institutional investors own 95.23% of the company’s stock.

Modine Manufacturing Stock Performance

Modine Manufacturing stock opened at $113.73 on Thursday. Modine Manufacturing Company has a 12-month low of $64.79 and a 12-month high of $146.84. The company has a quick ratio of 1.15, a current ratio of 1.78 and a debt-to-equity ratio of 0.32. The business’s 50-day moving average price is $96.51 and its two-hundred day moving average price is $93.44. The stock has a market cap of $5.97 billion, a PE ratio of 33.25, a P/E/G ratio of 0.73 and a beta of 2.04.

Modine Manufacturing (NYSE:MOD) last released its earnings results on Wednesday, July 30th. The auto parts company reported $1.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.13. Modine Manufacturing had a return on equity of 25.31% and a net margin of 7.12%. The firm had revenue of $682.80 million for the quarter, compared to analysts’ expectations of $653.80 million. During the same quarter in the previous year, the business posted $1.04 earnings per share. The business’s revenue for the quarter was up 3.2% on a year-over-year basis. As a group, analysts expect that Modine Manufacturing Company will post 3.88 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently commented on MOD. KeyCorp began coverage on Modine Manufacturing in a research report on Thursday, June 12th. They issued an “overweight” rating and a $125.00 price target on the stock. Oppenheimer raised their price target on Modine Manufacturing from $121.00 to $122.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 1st. Finally, Wall Street Zen upgraded Modine Manufacturing from a “hold” rating to a “buy” rating in a research report on Saturday, June 7th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $135.50.

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.