Concentric Capital Strategies LP Purchases 57,346 Shares of Modine Manufacturing (NYSE:MOD)

Concentric Capital Strategies LP grew its position in shares of Modine Manufacturing (NYSE:MOD) by 826.3% during the third quarter, according to its most recent filing with the SEC. The firm owned 64,286 shares of the auto parts company’s stock after acquiring an additional 57,346 shares during the period. Concentric Capital Strategies LP’s holdings in Modine Manufacturing were worth $8,537,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. SG Americas Securities LLC lifted its position in Modine Manufacturing by 311.1% during the 2nd quarter. SG Americas Securities LLC now owns 32,128 shares of the auto parts company’s stock valued at $3,219,000 after acquiring an additional 24,312 shares during the period. Farther Finance Advisors LLC boosted its stake in Modine Manufacturing by 90.9% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,031 shares of the auto parts company’s stock worth $137,000 after purchasing an additional 491 shares in the last quarter. Harbor Capital Advisors Inc. lifted its stake in shares of Modine Manufacturing by 58.0% in the third quarter. Harbor Capital Advisors Inc. now owns 69,839 shares of the auto parts company’s stock worth $9,274,000 after buying an additional 25,648 shares in the last quarter. Fred Alger Management LLC grew its holdings in shares of Modine Manufacturing by 5.1% during the second quarter. Fred Alger Management LLC now owns 369,840 shares of the auto parts company’s stock valued at $37,054,000 after buying an additional 17,889 shares during the last quarter. Finally, Raymond James & Associates increased its position in shares of Modine Manufacturing by 15.8% during the third quarter. Raymond James & Associates now owns 30,812 shares of the auto parts company’s stock valued at $4,092,000 after acquiring an additional 4,206 shares in the last quarter. Institutional investors own 95.23% of the company’s stock.

Modine Manufacturing Trading Up 1.8 %

Shares of MOD stock opened at $135.79 on Monday. The stock has a market capitalization of $7.13 billion, a P/E ratio of 44.52, a P/E/G ratio of 1.04 and a beta of 2.25. The company has a current ratio of 1.77, a quick ratio of 1.09 and a debt-to-equity ratio of 0.41. The firm’s 50 day moving average is $129.70 and its 200 day moving average is $113.48. Modine Manufacturing has a 12-month low of $48.88 and a 12-month high of $146.84.

Modine Manufacturing (NYSE:MOD) last issued its quarterly earnings data on Tuesday, October 29th. The auto parts company reported $0.97 EPS 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 company had revenue of $658.00 million during the quarter, compared to analyst estimates of $646.86 million. During the same quarter in the previous year, the company posted $0.89 earnings per share. Modine Manufacturing’s revenue was up 6.0% compared to the same quarter last year. Research analysts expect that Modine Manufacturing will post 3.83 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on MOD shares. Oppenheimer upped their price objective 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 upped their price target on Modine Manufacturing from $140.00 to $155.00 and gave the company a “buy” rating in a report on Tuesday, September 24th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Modine Manufacturing has a consensus rating of “Moderate Buy” and a consensus target price of $146.67.

Modine Manufacturing Company 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.