Eagle Asset Management Inc. Invests $9.38 Million in Modine Manufacturing (NYSE:MOD)

Eagle Asset Management Inc. acquired a new stake in shares of Modine Manufacturing (NYSE:MODFree Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 73,202 shares of the auto parts company’s stock, valued at approximately $9,379,000. Eagle Asset Management Inc. owned 0.14% of Modine Manufacturing as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in Modine Manufacturing by 27.3% in the first quarter. Vanguard Group Inc. now owns 3,909,016 shares of the auto parts company’s stock valued at $372,099,000 after purchasing an additional 838,460 shares during the last quarter. Acadian Asset Management LLC purchased a new position in shares of Modine Manufacturing during the 1st quarter worth about $37,000. LRI Investments LLC acquired a new stake in shares of Modine Manufacturing in the first quarter worth approximately $135,000. Price T Rowe Associates Inc. MD grew its holdings in Modine Manufacturing by 5.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 38,383 shares of the auto parts company’s stock valued at $3,654,000 after purchasing an additional 1,901 shares during the period. Finally, Castleark Management LLC increased its position in Modine Manufacturing by 4.8% during the first quarter. Castleark Management LLC now owns 69,580 shares of the auto parts company’s stock worth $6,623,000 after purchasing an additional 3,170 shares during the last quarter. Institutional investors and hedge funds own 95.23% of the company’s stock.

Modine Manufacturing Price Performance

Shares of NYSE MOD opened at $143.22 on Friday. The company has a market capitalization of $7.52 billion, a price-to-earnings ratio of 46.96, a PEG ratio of 1.08 and a beta of 2.25. 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 1-year low of $48.88 and a 1-year high of $144.02. The business has a 50-day moving average of $128.14 and a 200-day moving average of $112.35.

Modine Manufacturing (NYSE:MODGet Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The auto parts company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.05. Modine Manufacturing had a net margin of 6.59% and a return on equity of 23.96%. The company had revenue of $658.00 million during the quarter, compared to the consensus estimate of $646.86 million. During the same quarter last year, the company earned $0.89 earnings per share. Modine Manufacturing’s revenue for the quarter was up 6.0% on a year-over-year basis. On average, equities analysts anticipate that Modine Manufacturing will post 3.83 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently weighed in on MOD. 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. B. Riley boosted their target price on Modine Manufacturing from $125.00 to $140.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. William Blair began coverage on shares of Modine Manufacturing in a research report on Monday, July 29th. They set an “outperform” rating for the company. Finally, Oppenheimer lifted their price target on shares of Modine Manufacturing from $144.00 to $145.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $146.67.

View Our Latest Report on MOD

Modine Manufacturing Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Modine Manufacturing (NYSE:MOD)

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