Oliver Luxxe Assets LLC Takes Position in Modine Manufacturing (NYSE:MOD)

Oliver Luxxe Assets LLC bought a new stake in Modine Manufacturing (NYSE:MOD) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 29,148 shares of the auto parts company’s stock, valued at approximately $2,775,000. Oliver Luxxe Assets LLC owned 0.06% of Modine Manufacturing as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of MOD. Principal Securities Inc. acquired a new stake in shares of Modine Manufacturing in the fourth quarter valued at about $29,000. Nisa Investment Advisors LLC grew its position in shares of Modine Manufacturing by 51.8% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,172 shares of the auto parts company’s stock valued at $70,000 after purchasing an additional 400 shares during the period. PNC Financial Services Group Inc. grew its position in shares of Modine Manufacturing by 49.9% in the third quarter. PNC Financial Services Group Inc. now owns 2,206 shares of the auto parts company’s stock valued at $101,000 after purchasing an additional 734 shares during the period. Banque Cantonale Vaudoise acquired a new position in Modine Manufacturing during the first quarter worth about $101,000. Finally, AJOVista LLC acquired a new position in Modine Manufacturing during the fourth quarter worth about $133,000. Institutional investors and hedge funds own 95.23% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on MOD shares. DA Davidson boosted their price target on shares of Modine Manufacturing from $110.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, May 24th. B. Riley restated a “buy” rating and set a $125.00 price target on shares of Modine Manufacturing in a research report on Thursday. Finally, Oppenheimer boosted their price target on shares of Modine Manufacturing from $105.00 to $110.00 and gave the stock an “outperform” rating in a research report on Thursday, May 23rd.

Modine Manufacturing Trading Up 1.6 %

NYSE:MOD traded up $1.60 on Monday, hitting $101.79. The stock had a trading volume of 364,518 shares, compared to its average volume of 946,723. The company has a quick ratio of 0.98, a current ratio of 1.64 and a debt-to-equity ratio of 0.53. The stock has a market cap of $5.33 billion, a price-to-earnings ratio of 33.07, a PEG ratio of 0.80 and a beta of 2.27. The company has a fifty day moving average price of $97.53 and a two-hundred day moving average price of $84.28. Modine Manufacturing has a 1-year low of $32.17 and a 1-year high of $109.53.

Modine Manufacturing (NYSE:MOD) last released its quarterly earnings results on Tuesday, May 21st. The auto parts company reported $0.77 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.02). The company had revenue of $603.50 million during the quarter, compared to analysts’ expectations of $605.44 million. Modine Manufacturing had a net margin of 6.71% and a return on equity of 24.69%. Modine Manufacturing’s revenue was down 2.4% on a year-over-year basis. During the same period last year, the firm posted $0.67 earnings per share. Equities research analysts expect that Modine Manufacturing will post 3.7 earnings per share for the current fiscal year.

Modine Manufacturing Profile

Modine Manufacturing Company provides engineered heat transfer systems and heat transfer components for use in on- and off-highway original equipment manufacturer (OEM) vehicular applications. It operates through Climate Solutions and Performance Technologies segments. The company offers gas-fired, hydronic, electric, and oil-fired unit heaters; indoor and outdoor duct furnaces; infrared units; perimeter heating products, such as commercial fin-tube radiation, cabinet unit heaters, and convectors; roof-mounted direct- and indirect-fired makeup air units; unit ventilators; single packaged vertical units; precision air conditioning units for data center applications; air handler units; fan walls; chillers; ceiling cassettes; hybrid fan coils; and condensers and condensing units.