Perigon Wealth Management LLC Buys 12,950 Shares of Modine Manufacturing Company $MOD

Perigon Wealth Management LLC lifted its stake in shares of Modine Manufacturing Company (NYSE:MOD) by 583.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 15,171 shares of the auto parts company’s stock after purchasing an additional 12,950 shares during the period. Perigon Wealth Management LLC’s holdings in Modine Manufacturing were worth $2,025,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of MOD. Capital Research Global Investors purchased a new stake in Modine Manufacturing in the 3rd quarter worth about $184,610,000. Congress Asset Management Co. increased its stake in shares of Modine Manufacturing by 954.8% in the third quarter. Congress Asset Management Co. now owns 527,480 shares of the auto parts company’s stock worth $74,987,000 after purchasing an additional 477,473 shares in the last quarter. Norges Bank purchased a new stake in shares of Modine Manufacturing during the 2nd quarter valued at approximately $41,081,000. Hood River Capital Management LLC boosted its holdings in Modine Manufacturing by 222.8% in the 2nd quarter. Hood River Capital Management LLC now owns 564,466 shares of the auto parts company’s stock worth $55,600,000 after buying an additional 389,574 shares during the period. Finally, Invesco Ltd. grew its stake in Modine Manufacturing by 133.2% in the 3rd quarter. Invesco Ltd. now owns 598,140 shares of the auto parts company’s stock valued at $85,032,000 after buying an additional 341,595 shares in the last quarter. Institutional investors own 95.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on MOD. Roth Mkm began coverage on shares of Modine Manufacturing in a report on Wednesday, February 18th. They issued a “buy” rating and a $263.00 price target on the stock. Wall Street Zen cut Modine Manufacturing from a “buy” rating to a “hold” rating in a report on Sunday, February 22nd. DA Davidson reiterated a “buy” rating and set a $265.00 price objective on shares of Modine Manufacturing in a research report on Tuesday, March 31st. Oppenheimer raised their price objective on Modine Manufacturing from $220.00 to $240.00 and gave the company an “outperform” rating in a report on Friday, February 6th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Modine Manufacturing in a research report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and an average target price of $234.33.

Modine Manufacturing Stock Performance

NYSE:MOD opened at $219.11 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.28 and a current ratio of 2.19. Modine Manufacturing Company has a fifty-two week low of $64.79 and a fifty-two week high of $243.80. The firm has a market cap of $11.55 billion, a PE ratio of 121.73, a price-to-earnings-growth ratio of 0.89 and a beta of 1.68. The business has a 50 day moving average price of $207.22 and a 200-day moving average price of $167.29.

Modine Manufacturing (NYSE:MOD) last issued its earnings results on Wednesday, February 4th. The auto parts company reported $1.19 EPS for the quarter, topping the consensus estimate of $0.99 by $0.20. Modine Manufacturing had a net margin of 3.40% and a return on equity of 22.99%. The company had revenue of $805.00 million for the quarter, compared to the consensus estimate of $763.54 million. During the same period in the previous year, the firm earned $0.92 earnings per share. The firm’s revenue for the quarter was up 30.5% on a year-over-year basis. Equities research analysts predict that Modine Manufacturing Company will post 3.88 earnings per share for the current year.

Insider Activity at Modine Manufacturing

In other news, Director Suresh V. Garimella sold 1,100 shares of the company’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $184.07, for a total transaction of $202,477.00. Following the completion of the transaction, the director directly owned 79,856 shares of the company’s stock, valued at approximately $14,699,093.92. This represents a 1.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 2.48% of the company’s stock.

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.