Versor Investments LP Acquires New Shares in Modine Manufacturing Company $MOD

Versor Investments LP acquired a new stake in Modine Manufacturing Company (NYSE:MOD) in the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 3,200 shares of the auto parts company’s stock, valued at approximately $427,000.

A number of other large investors have also added to or reduced their stakes in the company. Parkside Financial Bank & Trust raised its holdings in Modine Manufacturing by 17.6% in the third quarter. Parkside Financial Bank & Trust now owns 500 shares of the auto parts company’s stock worth $71,000 after purchasing an additional 75 shares in the last quarter. State of Alaska Department of Revenue raised its holdings in Modine Manufacturing by 3.4% in the fourth quarter. State of Alaska Department of Revenue now owns 3,156 shares of the auto parts company’s stock worth $421,000 after purchasing an additional 103 shares in the last quarter. Intrust Bank NA raised its holdings in Modine Manufacturing by 2.3% in the third quarter. Intrust Bank NA now owns 4,919 shares of the auto parts company’s stock worth $699,000 after purchasing an additional 109 shares in the last quarter. BCS Private Wealth Management Inc. raised its holdings in Modine Manufacturing by 2.8% in the third quarter. BCS Private Wealth Management Inc. now owns 4,525 shares of the auto parts company’s stock worth $643,000 after purchasing an additional 125 shares in the last quarter. Finally, Arizona State Retirement System raised its holdings in Modine Manufacturing by 1.2% in the third quarter. Arizona State Retirement System now owns 14,752 shares of the auto parts company’s stock worth $2,097,000 after purchasing an additional 176 shares in the last quarter. 95.23% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have commented on MOD. Oppenheimer boosted their target price on shares of Modine Manufacturing from $220.00 to $240.00 and gave the stock an “outperform” rating in a report on Friday, February 6th. Roth Mkm began coverage on shares of Modine Manufacturing in a report on Wednesday, February 18th. They issued a “buy” rating and a $263.00 target price for the company. Weiss Ratings reiterated a “hold (c-)” rating on shares of Modine Manufacturing in a report on Wednesday, May 6th. DA Davidson reiterated a “buy” rating and issued a $265.00 target price on shares of Modine Manufacturing in a report on Tuesday, March 31st. Finally, Wall Street Zen downgraded shares of Modine Manufacturing from a “buy” rating to a “hold” rating in a report on Sunday, February 22nd. Six investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, Modine Manufacturing has an average rating of “Moderate Buy” and an average target price of $234.33.

Modine Manufacturing Price Performance

Shares of MOD stock opened at $292.46 on Friday. Modine Manufacturing Company has a fifty-two week low of $86.48 and a fifty-two week high of $294.06. The firm has a market capitalization of $15.42 billion, a price-to-earnings ratio of 162.48, a PEG ratio of 1.14 and a beta of 1.66. 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 stock’s 50-day simple moving average is $231.58 and its 200-day simple moving average is $186.81.

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.