Delta Global Management LP Takes Position in Modine Manufacturing Company $MOD

Delta Global Management LP purchased a new stake in shares of Modine Manufacturing Company (NYSE:MOD) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 9,280 shares of the auto parts company’s stock, valued at approximately $1,239,000.

A number of other large investors have also recently modified their holdings of MOD. Capital Research Global Investors bought a new stake in shares of Modine Manufacturing during the 3rd quarter valued at about $184,610,000. WT Asset Management Ltd bought a new stake in shares of Modine Manufacturing during the 4th quarter valued at about $69,255,000. Norges Bank bought a new stake in shares of Modine Manufacturing during the 4th quarter valued at about $58,309,000. Van Berkom & Associates Inc. boosted its position in shares of Modine Manufacturing by 3,145.2% during 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 acquiring an additional 422,646 shares during the last quarter. Finally, Invesco Ltd. boosted its position in shares of Modine Manufacturing by 133.2% during the 3rd quarter. Invesco Ltd. now owns 598,140 shares of the auto parts company’s stock valued at $85,032,000 after acquiring an additional 341,595 shares during the last quarter. Institutional investors own 95.23% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on MOD. Wall Street Zen upgraded Modine Manufacturing from a “hold” rating to a “buy” rating in a research report on Saturday, May 30th. Oppenheimer lifted their price target on Modine Manufacturing from $271.00 to $325.00 and gave the company an “outperform” rating in a research report on Thursday, May 28th. Roth Mkm began coverage on Modine Manufacturing in a research report on Wednesday, February 18th. They set a “buy” rating and a $263.00 price target for the company. DA Davidson raised their price objective on Modine Manufacturing from $265.00 to $330.00 and gave the company a “buy” rating in a report on Friday, May 29th. Finally, B. Riley Financial raised their price objective on Modine Manufacturing from $250.00 to $264.00 and gave the company a “buy” rating in a report on Tuesday, May 26th. Seven equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $327.14.

Modine Manufacturing Stock Performance

NYSE MOD opened at $285.20 on Wednesday. The company has a 50-day simple moving average of $262.90 and a two-hundred day simple moving average of $207.32. Modine Manufacturing Company has a 12-month low of $86.48 and a 12-month high of $323.25. The firm has a market cap of $15.06 billion, a price-to-earnings ratio of 127.32, a PEG ratio of 0.92 and a beta of 1.65. The company has a quick ratio of 1.25, a current ratio of 1.94 and a debt-to-equity ratio of 0.32.

Modine Manufacturing (NYSE:MOD) last released its quarterly earnings data on Tuesday, May 26th. The auto parts company reported $1.71 EPS for the quarter, topping the consensus estimate of $1.51 by $0.20. The firm had revenue of $954.40 million for the quarter, compared to the consensus estimate of $920.67 million. Modine Manufacturing had a return on equity of 24.39% and a net margin of 3.82%.The company’s quarterly revenue was up 47.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.12 earnings per share. On average, equities analysts forecast that Modine Manufacturing Company will post 7.73 EPS for the current year.

About Modine Manufacturing

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.