Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its stake in shares of Modine Manufacturing (NYSE:MOD – Get Rating) by 14.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 72,782 shares of the auto parts company's stock after purchasing an additional 9,251 shares during the quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. owned 0.14% of Modine Manufacturing worth $656,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in MOD. Segall Bryant & Hamill LLC bought a new stake in shares of Modine Manufacturing during the 4th quarter valued at $18,664,000. Paradigm Capital Management Inc. NY increased its stake in Modine Manufacturing by 87.6% in the 4th quarter. Paradigm Capital Management Inc. NY now owns 1,926,600 shares of the auto parts company's stock worth $19,439,000 after acquiring an additional 899,400 shares during the last quarter. Monarch Partners Asset Management LLC bought a new position in Modine Manufacturing in the 1st quarter worth about $1,474,000. D. E. Shaw & Co. Inc. increased its stake in Modine Manufacturing by 21.3% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 827,420 shares of the auto parts company's stock worth $8,349,000 after acquiring an additional 145,088 shares during the last quarter. Finally, Royce & Associates LP increased its stake in Modine Manufacturing by 7.4% in the 4th quarter. Royce & Associates LP now owns 1,862,667 shares of the auto parts company's stock worth $18,794,000 after acquiring an additional 127,671 shares during the last quarter. 94.42% of the stock is currently owned by institutional investors.
Get Modine Manufacturing alerts:Analyst Upgrades and Downgrades
A number of brokerages have weighed in on MOD. DA Davidson upped their target price on Modine Manufacturing to $20.00 in a research note on Monday. StockNews.com upgraded Modine Manufacturing from a "buy" rating to a "strong-buy" rating in a research note on Friday, August 5th.
Insider Activity
In related news, CFO Michael B. Lucareli sold 3,783 shares of the stock in a transaction dated Wednesday, June 1st. The stock was sold at an average price of $11.94, for a total transaction of $45,169.02. Following the completion of the sale, the chief financial officer now directly owns 274,572 shares in the company, valued at approximately $3,278,389.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 3.06% of the company's stock.Modine Manufacturing Price Performance
Shares of Modine Manufacturing stock opened at $17.14 on Tuesday. The company has a current ratio of 1.57, a quick ratio of 0.95 and a debt-to-equity ratio of 0.81. The firm has a market capitalization of $890.82 million, a PE ratio of 9.26, a price-to-earnings-growth ratio of 0.39 and a beta of 2.34. The business's 50-day moving average price is $12.06 and its 200-day moving average price is $10.22. Modine Manufacturing has a 12 month low of $7.67 and a 12 month high of $17.16.
Modine Manufacturing (NYSE:MOD – Get Rating) last announced its quarterly earnings data on Wednesday, May 25th. The auto parts company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.49 by $0.08. The firm had revenue of $574.40 million for the quarter. Modine Manufacturing had a return on equity of 16.65% and a net margin of 4.64%. During the same quarter last year, the company posted $0.51 earnings per share. Sell-side analysts forecast that Modine Manufacturing will post 1.7 EPS for the current fiscal year.
Modine Manufacturing Company Profile
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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.
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