703 Shares in Modine Manufacturing (NYSE:MOD) Purchased by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale bought a new stake in shares of Modine Manufacturing (NYSE:MOD) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 703 shares of the auto parts company’s stock, valued at approximately $68,000.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. increased its holdings in Modine Manufacturing by 27.3% during 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 buying an additional 838,460 shares during the period. Capital International Investors boosted its position in Modine Manufacturing by 40.6% during the 1st quarter. Capital International Investors now owns 1,425,845 shares of the auto parts company’s stock valued at $135,726,000 after acquiring an additional 411,946 shares in the last quarter. Hennessy Advisors Inc. increased its holdings in shares of Modine Manufacturing by 20.4% in the 1st quarter. Hennessy Advisors Inc. now owns 714,400 shares of the auto parts company’s stock valued at $68,004,000 after acquiring an additional 121,200 shares during the period. Axiom Investors LLC DE raised its position in shares of Modine Manufacturing by 286.0% in the 4th quarter. Axiom Investors LLC DE now owns 281,690 shares of the auto parts company’s stock worth $16,817,000 after acquiring an additional 208,715 shares in the last quarter. Finally, Emerald Advisers LLC bought a new position in shares of Modine Manufacturing in the 2nd quarter worth $26,064,000. Institutional investors own 95.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. William Blair assumed coverage on Modine Manufacturing in a research note on Monday, July 29th. They issued an “outperform” rating on the stock. B. Riley lifted their price objective on shares of Modine Manufacturing from $125.00 to $140.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Oppenheimer reissued an “outperform” rating and set a $135.00 target price on shares of Modine Manufacturing in a research report on Thursday, September 12th. Finally, DA Davidson lifted their price target on shares of Modine Manufacturing from $120.00 to $140.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $138.33.

Modine Manufacturing Stock Performance

MOD opened at $128.32 on Friday. The firm’s 50-day moving average price is $109.01 and its 200-day moving average price is $100.79. The company has a market cap of $6.72 billion, a P/E ratio of 42.35, a price-to-earnings-growth ratio of 0.83 and a beta of 2.22. The company has a quick ratio of 1.11, a current ratio of 1.80 and a debt-to-equity ratio of 0.51. Modine Manufacturing has a 52-week low of $38.50 and a 52-week high of $130.53.

Modine Manufacturing (NYSE:MOD) last posted its quarterly earnings results on Tuesday, July 30th. The auto parts company reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.86 by $0.18. The business had revenue of $661.50 million during the quarter, compared to analysts’ expectations of $633.55 million. Modine Manufacturing had a net margin of 6.70% and a return on equity of 24.92%. The business’s quarterly revenue was up 6.3% on a year-over-year basis. During the same quarter last year, the company posted $0.85 earnings per share. As a group, equities analysts anticipate that Modine Manufacturing will post 3.85 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Marsha C. Williams sold 34,400 shares of the stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $109.74, for a total value of $3,775,056.00. Following the transaction, the director now directly owns 144,038 shares of the company’s stock, valued at $15,806,730.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.40% of the stock is currently owned by insiders.

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.