Wasatch Advisors LP Buys Shares of 686,748 Modine Manufacturing (NYSE:MOD)

Wasatch Advisors LP bought a new stake in Modine Manufacturing (NYSE:MOD) during the third quarter, Holdings Channel reports. The institutional investor bought 686,748 shares of the auto parts company’s stock, valued at approximately $91,193,000.

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

Modine Manufacturing Stock Performance

MOD opened at $135.93 on Friday. The company has a market cap of $7.14 billion, a PE ratio of 44.57, a price-to-earnings-growth ratio of 1.02 and a beta of 2.25. The stock has a 50-day moving average of $129.70 and a 200-day moving average of $113.39. Modine Manufacturing has a 52-week low of $48.88 and a 52-week high of $146.84. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.09 and a current ratio of 1.77.

Modine Manufacturing (NYSE:MOD) last posted its quarterly earnings data on Tuesday, October 29th. The auto parts company reported $0.97 earnings per share for the quarter, topping 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 business had revenue of $658.00 million during the quarter, compared to analysts’ expectations of $646.86 million. During the same quarter in the previous year, the firm earned $0.89 EPS. The firm’s revenue was up 6.0% compared to the same quarter last year. As a group, equities research analysts forecast that Modine Manufacturing will post 3.83 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on MOD shares. DA Davidson upped their price target on Modine Manufacturing from $140.00 to $155.00 and gave the stock a “buy” rating in a research note on Tuesday, September 24th. Oppenheimer upped their price target on Modine Manufacturing from $144.00 to $145.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Modine Manufacturing has an average 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.