Modine Manufacturing Company $MOD Shares Acquired by Reinhart Partners LLC.

Reinhart Partners LLC. increased its stake in Modine Manufacturing Company (NYSE:MOD) by 76.4% during the third quarter, HoldingsChannel reports. The firm owned 980,220 shares of the auto parts company’s stock after acquiring an additional 424,534 shares during the period. Modine Manufacturing comprises approximately 4.5% of Reinhart Partners LLC.’s portfolio, making the stock its 3rd biggest holding. Reinhart Partners LLC.’s holdings in Modine Manufacturing were worth $183,497,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. BlackRock Inc. purchased a new stake in shares of Modine Manufacturing during the second quarter worth $765,540,000. Paradigm Capital Management Inc. NY purchased a new stake in Modine Manufacturing during the 2nd quarter valued at about $388,140,000. Janus Henderson Group PLC boosted its stake in shares of Modine Manufacturing by 2,249.9% during the first quarter. Janus Henderson Group PLC now owns 523,507 shares of the auto parts company’s stock valued at $113,459,000 after purchasing an additional 501,229 shares during the period. Jupiter Topco LLC bought a new stake in Modine Manufacturing in the 2nd quarter worth $123,873,000. Finally, Blue Whale Capital LLP bought a new stake in shares of Modine Manufacturing in the second quarter worth about $123,747,000. 95.23% of the stock is owned by hedge funds and other institutional investors.

Modine Manufacturing Trading Down 0.0%

Shares of MOD opened at $181.82 on Friday. The firm has a market cap of $9.66 billion, a P/E ratio of 68.35, a price-to-earnings-growth ratio of 0.59 and a beta of 1.71. The company has a 50 day simple moving average of $190.28 and a two-hundred day simple moving average of $230.10. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.04 and a quick ratio of 1.22. Modine Manufacturing Company has a 1 year low of $111.18 and a 1 year high of $323.25.

Modine Manufacturing (NYSE:MOD) last posted its earnings results on Wednesday, July 29th. The auto parts company reported $1.53 EPS for the quarter, topping analysts’ consensus estimates of $1.27 by $0.26. Modine Manufacturing had a return on equity of 25.59% and a net margin of 4.28%. The company had revenue of $874.10 million for the quarter, compared to the consensus estimate of $878.69 million. During the same period in the previous year, the business earned $0.95 earnings per share. The firm’s revenue for the quarter was up 28.0% on a year-over-year basis. On average, equities analysts expect that Modine Manufacturing Company will post 7.68 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

MOD has been the topic of several recent analyst reports. Robert W. Baird began coverage on shares of Modine Manufacturing in a report on Tuesday. They issued an “outperform” rating and a $300.00 price target on the stock. KeyCorp restated an “overweight” rating and issued a $280.00 price target on shares of Modine Manufacturing in a research note on Wednesday, September 2nd. DA Davidson reissued a “buy” rating and set a $330.00 price objective on shares of Modine Manufacturing in a research report on Tuesday, September 29th. Oppenheimer reduced their target price on Modine Manufacturing from $300.00 to $260.00 and set an “outperform” rating for the company in a report on Friday, October 2nd. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Modine Manufacturing in a research note on Tuesday, August 25th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $309.50.

Modine Manufacturing Profile

Modine Manufacturing Company (NYSE:MOD) is a diversified thermal management company that develops and manufactures technologies for controlling and transferring heat. Founded in 1916 and headquartered in Racine, Wisconsin, Modine serves customers in the automotive, commercial and industrial, data center, HVAC, refrigeration, and other specialized markets.

The company’s products and systems include heat exchangers, cooling modules, coils, radiators, condensers, fans, thermal management systems, and related components.