2,923 Shares in Modine Manufacturing (NYSE:MOD) Bought by Aigen Investment Management LP

Aigen Investment Management LP acquired a new stake in Modine Manufacturing (NYSE:MOD) in the third quarter, HoldingsChannel reports. The institutional investor acquired 2,923 shares of the auto parts company’s stock, valued at approximately $388,000.

Several other large investors also recently modified their holdings of MOD. SG Americas Securities LLC boosted its holdings in Modine Manufacturing by 311.1% in the second quarter. SG Americas Securities LLC now owns 32,128 shares of the auto parts company’s stock valued at $3,219,000 after purchasing an additional 24,312 shares during the last quarter. Farther Finance Advisors LLC boosted its stake in shares of Modine Manufacturing by 90.9% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,031 shares of the auto parts company’s stock valued at $137,000 after buying an additional 491 shares during the last quarter. Harbor Capital Advisors Inc. boosted its stake in shares of Modine Manufacturing by 58.0% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 69,839 shares of the auto parts company’s stock valued at $9,274,000 after buying an additional 25,648 shares during the last quarter. Fred Alger Management LLC grew its position in shares of Modine Manufacturing by 5.1% during the second quarter. Fred Alger Management LLC now owns 369,840 shares of the auto parts company’s stock worth $37,054,000 after buying an additional 17,889 shares in the last quarter. Finally, Janney Montgomery Scott LLC bought a new stake in shares of Modine Manufacturing in the first quarter worth $833,000. 95.23% of the stock is currently owned by institutional investors and hedge funds.

Modine Manufacturing Stock Down 5.7 %

Shares of Modine Manufacturing stock opened at $120.07 on Friday. Modine Manufacturing has a twelve month low of $48.10 and a twelve month high of $141.72. The stock has a market capitalization of $6.30 billion, a price-to-earnings ratio of 39.37, a PEG ratio of 0.96 and a beta of 2.25. The company has a current ratio of 1.77, a quick ratio of 1.09 and a debt-to-equity ratio of 0.41. The business’s 50 day simple moving average is $124.17 and its 200-day simple moving average is $110.61.

Modine Manufacturing (NYSE:MOD) last posted its earnings results on Tuesday, October 29th. The auto parts company reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.05. The company had revenue of $658.00 million for the quarter, compared to analysts’ expectations of $646.86 million. Modine Manufacturing had a return on equity of 23.96% and a net margin of 6.59%. The firm’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same period last year, the business posted $0.89 earnings per share. Equities research analysts forecast that Modine Manufacturing will post 3.83 earnings per share for the current year.

Analyst Ratings Changes

MOD has been the topic of a number of research analyst reports. DA Davidson increased their price objective on shares of Modine Manufacturing from $140.00 to $155.00 and gave the company a “buy” rating in a research note on Tuesday, September 24th. William Blair assumed coverage on Modine Manufacturing in a research note on Monday, July 29th. They issued an “outperform” rating for the company. Oppenheimer upped their price objective on Modine Manufacturing from $144.00 to $145.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Finally, B. Riley lifted their target price on Modine Manufacturing from $125.00 to $140.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $146.67.

Modine Manufacturing Company Profile

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.