Axxcess Wealth Management LLC Buys New Shares in Modine Manufacturing (NYSE:MOD)

Axxcess Wealth Management LLC bought a new stake in shares of Modine Manufacturing (NYSE:MOD) in the 3rd quarter, HoldingsChannel reports. The firm bought 3,490 shares of the auto parts company’s stock, valued at approximately $463,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in MOD. Vanguard Group Inc. lifted its stake in Modine Manufacturing by 27.3% during 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 last quarter. Capital International Investors lifted its stake in Modine Manufacturing by 40.6% during the first quarter. Capital International Investors now owns 1,425,845 shares of the auto parts company’s stock valued at $135,726,000 after purchasing an additional 411,946 shares during the last quarter. Driehaus Capital Management LLC lifted its stake in Modine Manufacturing by 32.8% during the second quarter. Driehaus Capital Management LLC now owns 1,101,932 shares of the auto parts company’s stock valued at $110,403,000 after purchasing an additional 272,174 shares during the last quarter. Emerald Advisers LLC acquired a new stake in Modine Manufacturing during the second quarter valued at approximately $26,064,000. Finally, Public Employees Retirement Association of Colorado lifted its position in shares of Modine Manufacturing by 4,215.8% in the 2nd quarter. Public Employees Retirement Association of Colorado now owns 260,547 shares of the auto parts company’s stock valued at $26,104,000 after acquiring an additional 254,510 shares in the last quarter. 95.23% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. 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 report on Tuesday, September 24th. B. Riley upped their price target on shares of Modine Manufacturing from $125.00 to $140.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. William Blair assumed coverage on shares of Modine Manufacturing in a research report on Monday, July 29th. They issued an “outperform” rating for the company. Finally, Oppenheimer upped their price target on shares of Modine Manufacturing from $144.00 to $145.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $146.67.

Modine Manufacturing Stock Up 2.0 %

MOD stock opened at $127.34 on Thursday. Modine Manufacturing has a 12-month low of $48.10 and a 12-month high of $141.72. The company has a quick ratio of 1.09, a current ratio of 1.77 and a debt-to-equity ratio of 0.41. The company has a market cap of $6.69 billion, a price-to-earnings ratio of 41.83, a PEG ratio of 0.96 and a beta of 2.25. The company has a 50 day moving average of $123.75 and a two-hundred day moving average of $110.49.

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

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.