Modine Manufacturing Company $MOD Shares Acquired by Capital Research Global Investors

Capital Research Global Investors grew its holdings in Modine Manufacturing Company (NYSE:MOD) by 13.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,478,224 shares of the auto parts company’s stock after buying an additional 179,617 shares during the period. Capital Research Global Investors owned 2.80% of Modine Manufacturing worth $197,358,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Perigon Wealth Management LLC grew its holdings in shares of Modine Manufacturing by 583.1% in the fourth quarter. Perigon Wealth Management LLC now owns 15,171 shares of the auto parts company’s stock valued at $2,025,000 after purchasing an additional 12,950 shares during the period. Wisconsin Capital Management LLC grew its holdings in shares of Modine Manufacturing by 227.9% in the third quarter. Wisconsin Capital Management LLC now owns 23,071 shares of the auto parts company’s stock valued at $3,280,000 after purchasing an additional 16,034 shares during the period. Congress Asset Management Co. grew its holdings in shares of Modine Manufacturing by 7.8% in the fourth quarter. Congress Asset Management Co. now owns 568,853 shares of the auto parts company’s stock valued at $75,948,000 after purchasing an additional 41,373 shares during the period. Oppenheimer Asset Management Inc. grew its holdings in shares of Modine Manufacturing by 12.4% in the third quarter. Oppenheimer Asset Management Inc. now owns 48,189 shares of the auto parts company’s stock valued at $6,851,000 after purchasing an additional 5,319 shares during the period. Finally, JPMorgan Chase & Co. grew its holdings in shares of Modine Manufacturing by 14.9% in the third quarter. JPMorgan Chase & Co. now owns 1,171,497 shares of the auto parts company’s stock valued at $166,540,000 after purchasing an additional 151,543 shares during the period. Hedge funds and other institutional investors own 95.23% of the company’s stock.

Modine Manufacturing Trading Down 0.7%

Shares of MOD stock opened at $274.70 on Tuesday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.94 and a quick ratio of 1.25. The firm has a market cap of $14.51 billion, a PE ratio of 122.63, a price-to-earnings-growth ratio of 0.89 and a beta of 1.65. The company has a 50-day moving average of $255.68 and a two-hundred day moving average of $201.94. Modine Manufacturing Company has a 1-year low of $86.48 and a 1-year high of $323.25.

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

Analysts Set New Price Targets

MOD has been the subject of a number of analyst reports. Glj Research reissued a “buy” rating and issued a $428.00 price objective on shares of Modine Manufacturing in a report on Monday, June 1st. Oppenheimer upped their price objective on shares of Modine Manufacturing from $271.00 to $325.00 and gave the company an “outperform” rating in a report on Thursday, May 28th. B. Riley Financial upped their price objective on shares of Modine Manufacturing from $250.00 to $264.00 and gave the company a “buy” rating in a report on Tuesday, May 26th. KeyCorp increased their target price on shares of Modine Manufacturing from $250.00 to $370.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 27th. Finally, DA Davidson increased their target price on shares of Modine Manufacturing from $265.00 to $330.00 and gave the stock a “buy” rating in a research note on Friday, May 29th. Seven research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, Modine Manufacturing presently has an average rating of “Moderate Buy” and a consensus target price of $327.14.

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.