Principal Securities Inc. Acquires 269 Shares of Modine Manufacturing (NYSE:MOD)

Principal Securities Inc. increased its stake in shares of Modine Manufacturing (NYSE:MOD) by 97.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 544 shares of the auto parts company’s stock after acquiring an additional 269 shares during the quarter. Principal Securities Inc.’s holdings in Modine Manufacturing were worth $63,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Private Trust Co. NA grew its holdings in shares of Modine Manufacturing by 650.5% during the 3rd quarter. Private Trust Co. NA now owns 773 shares of the auto parts company’s stock worth $103,000 after purchasing an additional 670 shares in the last quarter. Farther Finance Advisors LLC lifted its position in Modine Manufacturing by 90.9% in the third 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 during the period. Nisa Investment Advisors LLC boosted its stake in Modine Manufacturing by 6.5% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,353 shares of the auto parts company’s stock worth $157,000 after buying an additional 82 shares in the last quarter. KBC Group NV increased its holdings in Modine Manufacturing by 47.8% in the 3rd quarter. KBC Group NV now owns 1,456 shares of the auto parts company’s stock valued at $193,000 after buying an additional 471 shares during the period. Finally, Harvest Fund Management Co. Ltd acquired a new position in shares of Modine Manufacturing in the 3rd quarter valued at $196,000. Institutional investors own 95.23% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Oppenheimer lifted their target price 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.

Modine Manufacturing Price Performance

Modine Manufacturing stock opened at $78.67 on Friday. The business has a 50 day simple moving average of $109.87 and a 200 day simple moving average of $119.19. Modine Manufacturing has a one year low of $78.42 and a one year high of $146.84. The company has a market capitalization of $4.14 billion, a PE ratio of 26.40, a price-to-earnings-growth ratio of 0.71 and a beta of 2.31. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.87 and a quick ratio of 1.18.

Modine Manufacturing (NYSE:MOD) last issued its quarterly earnings data on Tuesday, February 4th. The auto parts company reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.79 by $0.13. Modine Manufacturing had a return on equity of 24.25% and a net margin of 6.31%. On average, sell-side analysts forecast that Modine Manufacturing will post 3.88 EPS for the current fiscal year.

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.