Fred Alger Management LLC Has $46.42 Million Holdings in Modine Manufacturing (NYSE:MOD)

Fred Alger Management LLC decreased its position in Modine Manufacturing (NYSE:MOD) by 5.5% during the 3rd quarter, Holdings Channel.com reports. The firm owned 349,562 shares of the auto parts company’s stock after selling 20,278 shares during the period. Fred Alger Management LLC’s holdings in Modine Manufacturing were worth $46,418,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in MOD. FMR LLC grew its position in shares of Modine Manufacturing by 14.0% in the third quarter. FMR LLC now owns 4,417,927 shares of the auto parts company’s stock valued at $586,657,000 after purchasing an additional 543,419 shares during the last quarter. Driehaus Capital Management LLC grew its position in shares of Modine Manufacturing by 32.8% in the second quarter. Driehaus Capital Management LLC now owns 1,101,932 shares of the auto parts company’s stock valued at $110,403,000 after purchasing an additional 272,174 shares during the last quarter. Emerald Advisers LLC acquired a new position in shares of Modine Manufacturing in the second quarter valued at approximately $26,064,000. Public Employees Retirement Association of Colorado grew its position in shares of Modine Manufacturing by 4,215.8% in the second quarter. Public Employees Retirement Association of Colorado now owns 260,547 shares of the auto parts company’s stock valued at $26,104,000 after purchasing an additional 254,510 shares during the last quarter. Finally, Summit Partners Public Asset Management LLC acquired a new position in shares of Modine Manufacturing in the third quarter valued at approximately $31,961,000. Institutional investors and hedge funds own 95.23% of the company’s stock.

Modine Manufacturing Stock Down 3.9 %

NYSE MOD opened at $133.37 on Friday. The business has a fifty day moving average price of $129.55 and a two-hundred day moving average price of $113.15. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.77 and a quick ratio of 1.09. Modine Manufacturing has a fifty-two week low of $48.88 and a fifty-two week high of $146.84. The stock has a market capitalization of $7.00 billion, a PE ratio of 43.73, a PEG ratio of 1.02 and a beta of 2.25.

Modine Manufacturing (NYSE:MOD) last released its earnings results 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 firm had revenue of $658.00 million during the quarter, compared to analysts’ expectations of $646.86 million. During the same period in the prior year, the company earned $0.89 earnings per share. The company’s quarterly revenue was up 6.0% on a year-over-year basis. Equities analysts expect that Modine Manufacturing will post 3.83 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

About Modine Manufacturing

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.