Congress Asset Management Co. Grows Holdings in Modine Manufacturing Company $MOD

Congress Asset Management Co. increased its holdings in shares of Modine Manufacturing Company (NYSE:MOD) by 7.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 568,853 shares of the auto parts company’s stock after purchasing an additional 41,373 shares during the period. Congress Asset Management Co. owned 1.08% of Modine Manufacturing worth $75,948,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of MOD. SG Americas Securities LLC raised its holdings in shares of Modine Manufacturing by 1,598.4% in the fourth quarter. SG Americas Securities LLC now owns 63,164 shares of the auto parts company’s stock valued at $8,433,000 after buying an additional 59,445 shares during the last quarter. New England Research & Management Inc. purchased a new position in shares of Modine Manufacturing during the fourth quarter worth about $461,000. Harbour Capital Advisors LLC purchased a new position in shares of Modine Manufacturing during the fourth quarter worth about $236,000. Union Bancaire Privee UBP SA acquired a new position in Modine Manufacturing in the 4th quarter valued at about $892,000. Finally, Allworth Financial LP raised its stake in Modine Manufacturing by 38.8% during the 3rd quarter. Allworth Financial LP now owns 1,002 shares of the auto parts company’s stock valued at $142,000 after acquiring an additional 280 shares during the last quarter. 95.23% of the stock is owned by hedge funds and other institutional investors.

Modine Manufacturing Stock Performance

NYSE MOD opened at $212.04 on Tuesday. The stock has a market capitalization of $11.18 billion, a price-to-earnings ratio of 117.80, a PEG ratio of 1.20 and a beta of 1.66. The business’s 50 day moving average is $192.40 and its two-hundred day moving average is $162.81. Modine Manufacturing Company has a 12-month low of $64.79 and a 12-month high of $243.80. The company has a current ratio of 2.19, a quick ratio of 1.28 and a debt-to-equity ratio of 0.51.

Modine Manufacturing (NYSE:MOD) last posted its quarterly earnings results on Wednesday, February 4th. The auto parts company reported $1.19 EPS for the quarter, beating the consensus estimate of $0.99 by $0.20. Modine Manufacturing had a return on equity of 22.99% and a net margin of 3.40%.The business had revenue of $805.00 million during the quarter, compared to analysts’ expectations of $763.54 million. During the same period last year, the firm earned $0.92 EPS. The company’s quarterly revenue was up 30.5% compared to the same quarter last year. Research analysts expect that Modine Manufacturing Company will post 3.88 EPS for the current year.

Insider Buying and Selling

In other Modine Manufacturing news, Director Suresh V. Garimella sold 1,100 shares of the business’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $184.07, for a total transaction of $202,477.00. Following the sale, the director directly owned 79,856 shares in the company, valued at approximately $14,699,093.92. The trade was a 1.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.48% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on MOD. DA Davidson increased their price objective on Modine Manufacturing from $255.00 to $265.00 and gave the stock a “buy” rating in a research report on Monday, February 9th. Weiss Ratings restated a “hold (c)” rating on shares of Modine Manufacturing in a research note on Monday, December 29th. Zacks Research raised Modine Manufacturing from a “hold” rating to a “strong-buy” rating in a report on Friday, January 30th. Oppenheimer lifted their price objective on shares of Modine Manufacturing from $220.00 to $240.00 and gave the company an “outperform” rating in a research report on Friday, February 6th. Finally, Wall Street Zen cut shares of Modine Manufacturing from a “buy” rating to a “hold” rating in a research note on Sunday, February 22nd. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $223.20.

Modine Manufacturing Company Profile

Modine Manufacturing Company (NYSE:MOD) is a global provider of thermal management solutions serving automotive, commercial transportation, heavy-duty off-highway, industrial, HVAC and refrigeration markets. The company designs, manufactures, tests and markets a broad array of heat-transfer products that manage temperature and energy efficiency for engines, power electronics and building climate control systems.

Its product portfolio includes heat exchangers, condensers, radiators, evaporators, charge air coolers, fan systems and associated controls.