52,226 Shares in Modine Manufacturing Company $MOD Acquired by Renaissance Group LLC

Renaissance Group LLC bought a new position in Modine Manufacturing Company (NYSE:MOD) in the 4th quarter, HoldingsChannel.com reports. The fund bought 52,226 shares of the auto parts company’s stock, valued at approximately $6,973,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Spire Wealth Management bought a new stake in shares of Modine Manufacturing in the 4th quarter worth approximately $27,000. Sunbelt Securities Inc. purchased a new stake in shares of Modine Manufacturing in the 3rd quarter valued at $39,000. Danske Bank A S bought a new position in shares of Modine Manufacturing during the 3rd quarter valued at $43,000. Root Financial Partners LLC grew its holdings in shares of Modine Manufacturing by 140.5% during the 4th quarter. Root Financial Partners LLC now owns 368 shares of the auto parts company’s stock valued at $49,000 after purchasing an additional 215 shares during the last quarter. Finally, Maseco LLP purchased a new position in Modine Manufacturing in the 4th quarter worth $69,000. 95.23% of the stock is currently owned by institutional investors.

Modine Manufacturing Stock Down 7.1%

Shares of NYSE:MOD opened at $258.51 on Thursday. The stock’s 50-day moving average is $258.10 and its 200 day moving average is $203.75. The company has a market cap of $13.65 billion, a PE ratio of 115.40, a P/E/G ratio of 0.90 and a beta of 1.65. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.94 and a quick ratio of 1.25. Modine Manufacturing Company has a 1 year low of $86.48 and a 1 year high of $323.25.

Modine Manufacturing (NYSE:MOD) last issued its quarterly earnings data on Tuesday, May 26th. The auto parts company reported $1.71 earnings per share for the quarter, topping analysts’ consensus estimates of $1.51 by $0.20. Modine Manufacturing had a return on equity of 24.39% and a net margin of 3.82%.The firm had revenue of $954.40 million for the quarter, compared to analyst estimates of $920.67 million. During the same period last year, the company earned $1.12 EPS. The business’s quarterly revenue was up 47.5% compared to the same quarter last year. Sell-side analysts anticipate that Modine Manufacturing Company will post 7.73 EPS for the current year.

Analysts Set New Price Targets

Several analysts have weighed in on MOD shares. UBS Group boosted their price target on shares of Modine Manufacturing to $310.00 and gave the stock a “buy” rating in a research note on Wednesday, May 27th. Weiss Ratings upgraded Modine Manufacturing from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, May 28th. Glj Research reissued a “buy” rating and issued a $428.00 target price on shares of Modine Manufacturing in a research note on Monday, June 1st. DA Davidson increased their target price on Modine Manufacturing from $265.00 to $330.00 and gave the company a “buy” rating in a report on Friday, May 29th. Finally, B. Riley Financial raised their price target on Modine Manufacturing from $250.00 to $264.00 and gave the stock a “buy” rating in a research report on Tuesday, May 26th. Seven equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $327.14.

Modine Manufacturing Profile

Modine Manufacturing Company (NYSE:MOD) is a global provider of thermal management solutions serving automotive, commercial transportation, heavy-duty off-highway, industrial, HVAC and refrigeration markets. The company designs, manufactures, tests and markets a broad array of heat-transfer products that manage temperature and energy efficiency for engines, power electronics and building climate control systems.

Its product portfolio includes heat exchangers, condensers, radiators, evaporators, charge air coolers, fan systems and associated controls.