Victory Capital Management Inc. Purchases 72,517 Shares of Modine Manufacturing Company $MOD

Victory Capital Management Inc. boosted its position in Modine Manufacturing Company (NYSE:MOD) by 846.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 81,084 shares of the auto parts company’s stock after buying an additional 72,517 shares during the quarter. Victory Capital Management Inc.’s holdings in Modine Manufacturing were worth $11,527,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. First Horizon Corp bought a new stake in shares of Modine Manufacturing in the 3rd quarter worth approximately $38,000. Toth Financial Advisory Corp bought a new position in shares of Modine Manufacturing during the 3rd quarter valued at $57,000. Parkside Financial Bank & Trust grew its holdings in shares of Modine Manufacturing by 2,025.0% during the 2nd quarter. Parkside Financial Bank & Trust now owns 425 shares of the auto parts company’s stock valued at $42,000 after purchasing an additional 405 shares during the last quarter. AdvisorShares Investments LLC raised its position in Modine Manufacturing by 154.0% in the 3rd quarter. AdvisorShares Investments LLC now owns 475 shares of the auto parts company’s stock worth $68,000 after purchasing an additional 288 shares during the period. Finally, Elevation Point Wealth Partners LLC bought a new stake in Modine Manufacturing in the second quarter worth $57,000. 95.23% of the stock is owned by hedge funds and other institutional investors.

Modine Manufacturing Stock Down 0.3%

Shares of NYSE MOD opened at $200.66 on Thursday. The company has a current ratio of 2.19, a quick ratio of 1.28 and a debt-to-equity ratio of 0.51. Modine Manufacturing Company has a 12 month low of $64.79 and a 12 month high of $243.80. The firm has a market capitalization of $10.58 billion, a PE ratio of 111.48, a price-to-earnings-growth ratio of 1.23 and a beta of 1.67. The firm has a fifty day simple moving average of $181.44 and a two-hundred day simple moving average of $159.26.

Modine Manufacturing (NYSE:MOD) last announced its earnings results on Wednesday, February 4th. The auto parts company reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $763.54 million. During the same quarter in the previous year, the firm posted $0.92 EPS. The company’s revenue for the quarter was up 30.5% compared to the same quarter last year. Equities analysts expect that Modine Manufacturing Company will post 3.88 earnings per share for the current year.

Insiders Place Their Bets

In other Modine Manufacturing news, Director Suresh V. Garimella sold 1,100 shares of Modine Manufacturing stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $184.07, for a total transaction of $202,477.00. Following the sale, the director directly owned 79,856 shares of the company’s stock, valued at approximately $14,699,093.92. The trade was a 1.36% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 2.48% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on MOD shares. Oppenheimer boosted their price target on shares of Modine Manufacturing from $220.00 to $240.00 and gave the stock an “outperform” rating in a research note on Friday, February 6th. UBS Group initiated coverage on Modine Manufacturing in a report on Thursday, November 20th. They issued a “buy” rating and a $173.00 price objective on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Modine Manufacturing in a research note on Monday, December 29th. Roth Mkm started coverage on Modine Manufacturing in a report on Wednesday, February 18th. They set a “buy” rating and a $263.00 target price for the company. Finally, Wall Street Zen lowered Modine Manufacturing from a “buy” rating to a “hold” rating in a research report on Sunday, February 22nd. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $223.20.

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.