Principal Financial Group Inc. Boosts Stake in Modine Manufacturing (NYSE:MOD)

Principal Financial Group Inc. lifted its holdings in shares of Modine Manufacturing (NYSE:MOD) by 2.4% during the third quarter, Holdings Channel reports. The fund owned 1,152,735 shares of the auto parts company’s stock after purchasing an additional 26,527 shares during the quarter. Principal Financial Group Inc.’s holdings in Modine Manufacturing were worth $153,072,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Fifth Third Bancorp acquired a new stake in Modine Manufacturing during the 2nd quarter valued at approximately $64,000. DekaBank Deutsche Girozentrale acquired a new stake in shares of Modine Manufacturing during the second quarter worth approximately $68,000. Private Trust Co. NA grew its position in shares of Modine Manufacturing by 650.5% during the third quarter. Private Trust Co. NA now owns 773 shares of the auto parts company’s stock worth $103,000 after buying an additional 670 shares in the last quarter. Banque Cantonale Vaudoise increased its stake in shares of Modine Manufacturing by 9.8% in the second quarter. Banque Cantonale Vaudoise now owns 1,165 shares of the auto parts company’s stock worth $117,000 after buying an additional 104 shares during the last quarter. Finally, Rothschild Investment LLC acquired a new stake in Modine Manufacturing in the second quarter valued at $118,000. Institutional investors and hedge funds own 95.23% of the company’s stock.

Modine Manufacturing Stock Up 0.3 %

MOD stock opened at $118.02 on Friday. The firm has a market cap of $6.20 billion, a price-to-earnings ratio of 38.70, a PEG ratio of 1.01 and a beta of 2.31. Modine Manufacturing has a 1-year low of $56.71 and a 1-year high of $146.84. The firm has a fifty day moving average price of $129.70 and a two-hundred day moving average price of $116.31. 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 (NYSE:MOD) last announced its quarterly earnings data on Tuesday, October 29th. The auto parts company reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.92 by $0.05. Modine Manufacturing had a net margin of 6.59% and a return on equity of 23.96%. The business had revenue of $658.00 million during the quarter, compared to the consensus estimate of $646.86 million. During the same quarter in the prior year, the firm earned $0.89 EPS. The company’s revenue for the quarter was up 6.0% compared to the same quarter last year. Research analysts predict that Modine Manufacturing will post 3.83 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on MOD shares. Oppenheimer boosted their target price on shares of Modine Manufacturing from $144.00 to $145.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. DA Davidson boosted their price objective on Modine Manufacturing from $140.00 to $155.00 and gave the company a “buy” rating in a report on Tuesday, September 24th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target 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.