New England Research & Management Inc. Makes New Investment in Modine Manufacturing Company $MOD

New England Research & Management Inc. bought a new position in Modine Manufacturing Company (NYSE:MOD) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 3,450 shares of the auto parts company’s stock, valued at approximately $461,000.

Several other institutional investors have also made changes to their positions in the company. First Horizon Corp acquired a new stake in shares of Modine Manufacturing during the third quarter valued at approximately $38,000. Sunbelt Securities Inc. acquired a new position in Modine Manufacturing in the 3rd quarter worth approximately $39,000. Danske Bank A S purchased a new position in Modine Manufacturing during the 3rd quarter worth approximately $43,000. Elevation Point Wealth Partners LLC purchased a new position in Modine Manufacturing during the 2nd quarter worth approximately $57,000. Finally, Toth Financial Advisory Corp acquired a new stake in Modine Manufacturing during the 3rd quarter valued at $57,000. 95.23% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Modine Manufacturing

In related news, Director Suresh V. Garimella sold 1,100 shares of Modine Manufacturing stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $184.07, for a total transaction of $202,477.00. Following the completion of the sale, the director owned 79,856 shares of the company’s stock, valued at approximately $14,699,093.92. This trade represents a 1.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.48% of the company’s stock.

Modine Manufacturing Stock Down 2.1%

MOD stock opened at $196.66 on Friday. The company has a 50 day moving average of $190.71 and a two-hundred day moving average of $162.08. The company has a market cap of $10.37 billion, a price-to-earnings ratio of 109.25, a PEG ratio of 1.20 and a beta of 1.67. Modine Manufacturing Company has a 12-month low of $64.79 and a 12-month high of $243.80. The company has a quick ratio of 1.28, a current ratio of 2.19 and a debt-to-equity ratio of 0.51.

Modine Manufacturing (NYSE:MOD) last posted its quarterly earnings results on Wednesday, February 4th. The auto parts company reported $1.19 EPS for the quarter, beating the consensus estimate of $0.99 by $0.20. Modine Manufacturing had a net margin of 3.40% and a return on equity of 22.99%. The business had revenue of $805.00 million for the quarter, compared to analysts’ expectations of $763.54 million. During the same period in the previous year, the company posted $0.92 EPS. Modine Manufacturing’s revenue was up 30.5% on a year-over-year basis. On average, equities analysts anticipate that Modine Manufacturing Company will post 3.88 earnings per share for the current fiscal year.

Analysts Set New Price Targets

MOD has been the subject of a number of research analyst reports. Roth Mkm initiated coverage on Modine Manufacturing in a report on Wednesday, February 18th. They issued a “buy” rating and a $263.00 target price for the company. Oppenheimer lifted their price target on Modine Manufacturing from $220.00 to $240.00 and gave the company an “outperform” rating in a report on Friday, February 6th. DA Davidson upped their price target on Modine Manufacturing from $255.00 to $265.00 and gave the company a “buy” rating in a research report on Monday, February 9th. Weiss Ratings reissued a “hold (c)” rating on shares of Modine Manufacturing in a research note on Monday, December 29th. Finally, Zacks Research upgraded Modine Manufacturing from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 30th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $223.20.

Modine Manufacturing Profile

Modine Manufacturing Company (NYSE:MOD) is a global provider of thermal management solutions serving automotive, commercial transportation, heavy-duty off-highway, industrial, HVAC and refrigeration markets. The company designs, manufactures, tests and markets a broad array of heat-transfer products that manage temperature and energy efficiency for engines, power electronics and building climate control systems.

Its product portfolio includes heat exchangers, condensers, radiators, evaporators, charge air coolers, fan systems and associated controls.