Modine Manufacturing Company $MOD Shares Purchased by BNP Paribas Financial Markets

BNP Paribas Financial Markets boosted its stake in Modine Manufacturing Company (NYSE:MOD) by 2,964.8% in the 4th quarter, Holdings Channel reports. The firm owned 332,072 shares of the auto parts company’s stock after buying an additional 321,237 shares during the quarter. BNP Paribas Financial Markets’ holdings in Modine Manufacturing were worth $44,335,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Capital Research Global Investors acquired a new stake in shares of Modine Manufacturing in the 3rd quarter valued at about $184,610,000. WT Asset Management Ltd acquired a new stake in shares of Modine Manufacturing in the 4th quarter valued at about $69,255,000. Norges Bank acquired a new stake in shares of Modine Manufacturing in the 4th quarter valued at about $58,309,000. Van Berkom & Associates Inc. raised its stake in shares of Modine Manufacturing by 3,145.2% in the 4th quarter. Van Berkom & Associates Inc. now owns 436,084 shares of the auto parts company’s stock valued at $58,222,000 after purchasing an additional 422,646 shares in the last quarter. Finally, Invesco Ltd. raised its stake in shares of Modine Manufacturing by 133.2% in the 3rd quarter. Invesco Ltd. now owns 598,140 shares of the auto parts company’s stock valued at $85,032,000 after purchasing an additional 341,595 shares in the last quarter. 95.23% of the stock is owned by hedge funds and other institutional investors.

Modine Manufacturing Stock Performance

Shares of NYSE MOD opened at $301.00 on Thursday. The company has a quick ratio of 1.25, a current ratio of 1.94 and a debt-to-equity ratio of 0.32. The firm’s 50-day moving average price is $252.19 and its two-hundred day moving average price is $198.70. Modine Manufacturing Company has a 52-week low of $86.48 and a 52-week high of $323.25. The stock has a market capitalization of $15.90 billion, a P/E ratio of 134.38, a P/E/G ratio of 0.99 and a beta of 1.65.

Modine Manufacturing (NYSE:MOD) last issued its earnings results on Tuesday, May 26th. The auto parts company reported $1.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.51 by $0.20. Modine Manufacturing had a net margin of 3.82% and a return on equity of 24.39%. The firm had revenue of $954.40 million for the quarter, compared to analysts’ expectations of $920.67 million. During the same quarter last year, the company posted $1.12 earnings per share. Modine Manufacturing’s revenue was up 47.5% on a year-over-year basis. As a group, sell-side analysts forecast that Modine Manufacturing Company will post 7.73 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on MOD shares. Glj Research restated a “buy” rating and issued a $428.00 target price on shares of Modine Manufacturing in a research note on Monday. Weiss Ratings upgraded shares of Modine Manufacturing from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, May 28th. UBS Group upped their target price on shares of Modine Manufacturing to $310.00 and gave the company a “buy” rating in a research note on Wednesday, May 27th. Zacks Research lowered shares of Modine Manufacturing from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 13th. Finally, Wall Street Zen upgraded shares of Modine Manufacturing from a “hold” rating to a “buy” rating in a research note on Saturday, May 30th. Seven research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $327.14.

Modine Manufacturing Company 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.