Swiss National Bank Sells 300 Shares of Modine Manufacturing (NYSE:MOD)

Swiss National Bank lessened its holdings in Modine Manufacturing (NYSE:MOD) by 0.3% during the third quarter, Holdings Channel reports. The fund owned 97,200 shares of the auto parts company’s stock after selling 300 shares during the period. Swiss National Bank’s holdings in Modine Manufacturing were worth $12,907,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in MOD. Vanguard Group Inc. raised its position in shares of Modine Manufacturing by 27.3% in the first quarter. Vanguard Group Inc. now owns 3,909,016 shares of the auto parts company’s stock valued at $372,099,000 after purchasing an additional 838,460 shares during the period. Principal Financial Group Inc. raised its holdings in Modine Manufacturing by 2.4% in the 3rd quarter. Principal Financial Group Inc. now owns 1,152,735 shares of the auto parts company’s stock valued at $153,072,000 after acquiring an additional 26,527 shares during the period. Driehaus Capital Management LLC raised its holdings in Modine Manufacturing by 32.8% in the 2nd quarter. Driehaus Capital Management LLC now owns 1,101,932 shares of the auto parts company’s stock valued at $110,403,000 after acquiring an additional 272,174 shares during the period. Fred Alger Management LLC lifted its position in 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 acquiring an additional 17,889 shares during the last quarter. Finally, Emerald Advisers LLC boosted its holdings in shares of Modine Manufacturing by 1.6% during the third quarter. Emerald Advisers LLC now owns 264,349 shares of the auto parts company’s stock worth $35,103,000 after acquiring an additional 4,199 shares during the period. Institutional investors and hedge funds own 95.23% of the company’s stock.

Modine Manufacturing Price Performance

Shares of NYSE MOD opened at $143.22 on Friday. The business has a fifty day moving average price of $128.14 and a two-hundred day moving average price of $112.35. The stock has a market capitalization of $7.52 billion, a PE ratio of 46.96, a P/E/G ratio of 1.08 and a beta of 2.25. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.77 and a quick ratio of 1.09. Modine Manufacturing has a fifty-two week low of $48.88 and a fifty-two week high of $144.02.

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

Wall Street Analyst Weigh In

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

Modine Manufacturing 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.