Teachers Retirement System of The State of Kentucky Acquires Shares of 14,726 Modine Manufacturing (NYSE:MOD)

Teachers Retirement System of The State of Kentucky bought a new position in shares of Modine Manufacturing (NYSE:MOD) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 14,726 shares of the auto parts company’s stock, valued at approximately $1,475,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Corient Private Wealth LLC acquired a new stake in shares of Modine Manufacturing during the fourth quarter worth approximately $548,000. Capital International Investors lifted its position in shares of Modine Manufacturing by 35.1% during the fourth quarter. Capital International Investors now owns 1,013,899 shares of the auto parts company’s stock worth $60,530,000 after purchasing an additional 263,614 shares during the last quarter. Capital World Investors bought a new stake in Modine Manufacturing in the fourth quarter valued at about $11,623,000. Intrinsic Edge Capital Management LLC acquired a new stake in Modine Manufacturing during the fourth quarter valued at approximately $597,000. Finally, Verition Fund Management LLC lifted its holdings in Modine Manufacturing by 1,517.3% during the 4th quarter. Verition Fund Management LLC now owns 107,516 shares of the auto parts company’s stock worth $6,419,000 after buying an additional 100,868 shares during the last quarter. 95.23% of the stock is currently owned by hedge funds and other institutional investors.

Modine Manufacturing Stock Up 2.7 %

MOD stock opened at $134.35 on Friday. The company has a quick ratio of 1.11, a current ratio of 1.80 and a debt-to-equity ratio of 0.51. The firm’s 50-day simple moving average is $113.58 and its 200 day simple moving average is $103.85. The stock has a market cap of $7.04 billion, a PE ratio of 44.34, a price-to-earnings-growth ratio of 0.97 and a beta of 2.22. Modine Manufacturing has a fifty-two week low of $38.50 and a fifty-two week high of $138.99.

Modine Manufacturing (NYSE:MOD) last released its quarterly earnings results on Tuesday, July 30th. The auto parts company reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.86 by $0.18. Modine Manufacturing had a return on equity of 24.92% and a net margin of 6.70%. The company had revenue of $661.50 million for the quarter, compared to analysts’ expectations of $633.55 million. During the same quarter in the previous year, the company posted $0.85 earnings per share. The business’s revenue for the quarter was up 6.3% compared to the same quarter last year. As a group, sell-side analysts predict that Modine Manufacturing will post 3.85 EPS for the current year.

Insiders Place Their Bets

In related news, Director Marsha C. Williams sold 34,400 shares of Modine Manufacturing stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $109.74, for a total transaction of $3,775,056.00. Following the transaction, the director now directly owns 144,038 shares of the company’s stock, valued at $15,806,730.12. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.40% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on MOD. Oppenheimer reiterated an “outperform” rating and issued a $135.00 price target on shares of Modine Manufacturing in a report on Thursday, September 12th. William Blair started coverage on shares of Modine Manufacturing in a report on Monday, July 29th. They set an “outperform” rating on the stock. DA Davidson lifted their price target on shares of Modine Manufacturing from $140.00 to $155.00 and gave the company a “buy” rating in a report on Tuesday, September 24th. Finally, B. Riley increased 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 equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $143.33.

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.