240,692 Shares in Modine Manufacturing (NYSE:MOD) Purchased by Summit Partners Public Asset Management LLC

Summit Partners Public Asset Management LLC bought a new stake in Modine Manufacturing (NYSE:MOD) during the third quarter, HoldingsChannel reports. The institutional investor bought 240,692 shares of the auto parts company’s stock, valued at approximately $31,961,000. Modine Manufacturing comprises about 1.0% of Summit Partners Public Asset Management LLC’s holdings, making the stock its 24th largest position.

Other large investors also recently modified their holdings of the company. Opal Wealth Advisors LLC bought a new position in Modine Manufacturing during the second quarter worth about $51,000. West Oak Capital LLC lifted its stake in shares of Modine Manufacturing by 300.0% during the 2nd quarter. West Oak Capital LLC now owns 600 shares of the auto parts company’s stock valued at $60,000 after buying an additional 450 shares in the last quarter. Fifth Third Bancorp bought a new position in Modine Manufacturing in the 2nd quarter worth approximately $64,000. DekaBank Deutsche Girozentrale purchased a new position in Modine Manufacturing in the 2nd quarter valued at approximately $68,000. Finally, Private Trust Co. NA raised its holdings in Modine Manufacturing by 650.5% during the 3rd quarter. Private Trust Co. NA now owns 773 shares of the auto parts company’s stock valued at $103,000 after acquiring an additional 670 shares during the period. Hedge funds and other institutional investors own 95.23% of the company’s stock.

Modine Manufacturing Price Performance

NYSE:MOD opened at $133.37 on Friday. Modine Manufacturing has a 52-week low of $48.88 and a 52-week high of $146.84. The stock has a fifty day moving average of $129.55 and a 200 day moving average of $113.15. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.09 and a current ratio of 1.77. The firm has a market capitalization of $7.00 billion, a price-to-earnings ratio of 43.73, a P/E/G ratio of 1.02 and a beta of 2.25.

Modine Manufacturing (NYSE:MOD) last released its quarterly earnings results on Tuesday, October 29th. The auto parts company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.05. Modine Manufacturing had a return on equity of 23.96% and a net margin of 6.59%. The firm had revenue of $658.00 million for the quarter, compared to analysts’ expectations of $646.86 million. During the same quarter last year, the firm posted $0.89 EPS. The company’s revenue was up 6.0% compared to the same quarter last year. On average, research analysts expect that Modine Manufacturing will post 3.83 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Oppenheimer lifted their price target on Modine Manufacturing from $144.00 to $145.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. DA Davidson lifted their target price on Modine Manufacturing from $140.00 to $155.00 and gave the company a “buy” rating in a report on Tuesday, September 24th. Finally, B. Riley increased their price target on shares of Modine Manufacturing from $125.00 to $140.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $146.67.

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.