200,392 Shares in Modine Manufacturing Company $MOD Acquired by Jain Global LLC

Jain Global LLC purchased a new position in Modine Manufacturing Company (NYSE:MOD) during the 3rd quarter, HoldingsChannel reports. The institutional investor purchased 200,392 shares of the auto parts company’s stock, valued at approximately $28,488,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Hilltop Holdings Inc. bought a new stake in shares of Modine Manufacturing during the third quarter valued at approximately $252,000. Granahan Investment Management LLC lifted its holdings in shares of Modine Manufacturing by 76.2% in the 3rd quarter. Granahan Investment Management LLC now owns 186,914 shares of the auto parts company’s stock worth $26,572,000 after purchasing an additional 80,810 shares in the last quarter. Candelo Capital Management LP acquired a new stake in Modine Manufacturing in the 3rd quarter valued at $5,552,000. California Public Employees Retirement System grew its position in Modine Manufacturing by 7.1% in the 3rd quarter. California Public Employees Retirement System now owns 73,571 shares of the auto parts company’s stock valued at $10,459,000 after purchasing an additional 4,869 shares during the period. Finally, Ameriprise Financial Inc. increased its stake in Modine Manufacturing by 4.6% during the 3rd quarter. Ameriprise Financial Inc. now owns 837,448 shares of the auto parts company’s stock valued at $119,052,000 after purchasing an additional 36,977 shares in the last quarter. Institutional investors own 95.23% of the company’s stock.

Modine Manufacturing Stock Down 1.6%

Modine Manufacturing stock opened at $188.79 on Monday. Modine Manufacturing Company has a fifty-two week low of $64.79 and a fifty-two week high of $243.80. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.28 and a current ratio of 2.19. The firm’s 50-day simple moving average is $183.57 and its 200 day simple moving average is $160.09. The stock has a market cap of $9.95 billion, a PE ratio of 104.88, a price-to-earnings-growth ratio of 1.15 and a beta of 1.66.

Modine Manufacturing (NYSE:MOD) last posted its earnings results on Wednesday, February 4th. The auto parts company reported $1.19 EPS for the quarter, topping the consensus estimate of $0.99 by $0.20. Modine Manufacturing had a net margin of 3.40% and a return on equity of 22.99%. The firm had revenue of $805.00 million for the quarter, compared to analysts’ expectations of $763.54 million. During the same quarter last year, the firm earned $0.92 EPS. The company’s quarterly revenue was up 30.5% compared to the same quarter last year. Research analysts predict that Modine Manufacturing Company will post 3.88 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have weighed in on MOD shares. Weiss Ratings restated a “hold (c)” rating on shares of Modine Manufacturing in a report on Monday, December 29th. Zacks Research raised shares of Modine Manufacturing from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 30th. DA Davidson upped their target price on shares of Modine Manufacturing from $255.00 to $265.00 and gave the stock a “buy” rating in a report on Monday, February 9th. UBS Group assumed coverage on shares of Modine Manufacturing in a research report on Thursday, November 20th. They issued a “buy” rating and a $173.00 price target on the stock. Finally, Wall Street Zen downgraded Modine Manufacturing from a “buy” rating to a “hold” rating in a research note on Sunday, February 22nd. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, Modine Manufacturing currently has a consensus rating of “Buy” and an average price target of $223.20.

Insider Activity

In other Modine Manufacturing news, Director Suresh V. Garimella sold 1,100 shares of the firm’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $184.07, for a total value of $202,477.00. Following the completion of the sale, the director directly owned 79,856 shares of the company’s stock, valued at $14,699,093.92. This trade represents a 1.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 2.48% of the stock is currently owned by insiders.

About Modine Manufacturing

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.