Park Avenue Securities LLC Has $262,000 Stock Position in Modine Manufacturing (NYSE:MOD)

Park Avenue Securities LLC lifted its stake in Modine Manufacturing (NYSE:MOD) by 31.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,258 shares of the auto parts company’s stock after buying an additional 542 shares during the period. Park Avenue Securities LLC’s holdings in Modine Manufacturing were worth $262,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of MOD. Vanguard Personalized Indexing Management LLC increased its position in shares of Modine Manufacturing by 7.3% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 3,132 shares of the auto parts company’s stock worth $314,000 after purchasing an additional 212 shares in the last quarter. Sei Investments Co. raised its stake in shares of Modine Manufacturing by 14.9% in the second quarter. Sei Investments Co. now owns 91,405 shares of the auto parts company’s stock valued at $9,157,000 after acquiring an additional 11,832 shares during the last quarter. Ensign Peak Advisors Inc boosted its holdings in shares of Modine Manufacturing by 40.4% in the 2nd quarter. Ensign Peak Advisors Inc now owns 16,309 shares of the auto parts company’s stock worth $1,634,000 after acquiring an additional 4,695 shares in the last quarter. Xponance Inc. grew its position in Modine Manufacturing by 4.9% during the 2nd quarter. Xponance Inc. now owns 3,270 shares of the auto parts company’s stock worth $328,000 after acquiring an additional 153 shares during the last quarter. Finally, Marshall Wace LLP acquired a new stake in Modine Manufacturing during the 2nd quarter valued at $411,000. 95.23% of the stock is owned by institutional investors and hedge funds.

Modine Manufacturing Price Performance

Modine Manufacturing stock opened at $132.50 on Friday. The business’s 50-day simple moving average is $128.76 and its 200 day simple moving average is $121.12. The company has a quick ratio of 1.09, a current ratio of 1.77 and a debt-to-equity ratio of 0.41. The stock has a market cap of $6.96 billion, a price-to-earnings ratio of 43.44, a P/E/G ratio of 1.10 and a beta of 2.34. Modine Manufacturing has a 12-month low of $60.00 and a 12-month high of $146.84.

Modine Manufacturing (NYSE:MOD) last issued its earnings results 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. The company had revenue of $658.00 million for the quarter, compared to analyst estimates of $646.86 million. Modine Manufacturing had a net margin of 6.59% and a return on equity of 23.96%. The company’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.89 EPS. As a group, research analysts anticipate that Modine Manufacturing will post 3.83 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, Oppenheimer increased their target price on Modine Manufacturing from $144.00 to $145.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average 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.