Marshall Wace LLP Acquires New Stake in Modine Manufacturing (NYSE:MOD)

Marshall Wace LLP acquired a new position in shares of Modine Manufacturing (NYSE:MOD) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 4,100 shares of the auto parts company’s stock, valued at approximately $411,000.

Several other hedge funds also recently made changes to their positions in the company. Acadian Asset Management LLC purchased a new stake in shares of Modine Manufacturing in the first quarter valued at approximately $37,000. Opal Wealth Advisors LLC purchased a new stake in shares of Modine Manufacturing during the 2nd quarter worth $51,000. West Oak Capital LLC grew its stake in shares of Modine Manufacturing by 300.0% during the 2nd quarter. West Oak Capital LLC now owns 600 shares of the auto parts company’s stock worth $60,000 after purchasing an additional 450 shares during the period. Fifth Third Bancorp purchased a new position in shares of Modine Manufacturing in the 2nd quarter valued at about $64,000. Finally, DekaBank Deutsche Girozentrale acquired a new stake in shares of Modine Manufacturing in the second quarter valued at about $68,000. Institutional investors and hedge funds own 95.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on MOD. William Blair assumed coverage on shares of Modine Manufacturing in a research report on Monday, July 29th. They set an “outperform” rating on the stock. Oppenheimer restated an “outperform” rating and issued a $135.00 price target on shares of Modine Manufacturing in a report on Thursday, September 12th. DA Davidson lifted their price objective on Modine Manufacturing from $140.00 to $155.00 and gave the stock a “buy” rating in a report on Tuesday, September 24th. Finally, B. Riley upped their target price on Modine Manufacturing from $125.00 to $140.00 and gave the company a “buy” rating in a report on Thursday, August 1st. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $143.33.

Modine Manufacturing Stock Down 2.3 %

MOD stock opened at $130.95 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.80 and a quick ratio of 1.11. The company’s 50 day simple moving average is $115.21 and its 200-day simple moving average is $104.60. Modine Manufacturing has a 12 month low of $38.50 and a 12 month high of $138.99. The firm has a market capitalization of $6.86 billion, a PE ratio of 43.22, a P/E/G ratio of 0.97 and a beta of 2.22.

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

Insider Buying and Selling at Modine Manufacturing

In other news, Director Marsha C. Williams sold 34,400 shares of Modine Manufacturing stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $109.74, for a total transaction of $3,775,056.00. Following the completion of the sale, the director now directly owns 144,038 shares in the company, valued at $15,806,730.12. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 2.40% of the stock is 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.