Zurcher Kantonalbank Zurich Cantonalbank Grows Stake in Modine Manufacturing (NYSE:MOD)

Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Modine Manufacturing (NYSE:MOD) by 13.5% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,776 shares of the auto parts company’s stock after purchasing an additional 1,404 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Modine Manufacturing were worth $1,564,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. SG Americas Securities LLC increased its holdings in Modine Manufacturing by 311.1% during the 2nd quarter. SG Americas Securities LLC now owns 32,128 shares of the auto parts company’s stock worth $3,219,000 after purchasing an additional 24,312 shares during the period. Farther Finance Advisors LLC increased its holdings in Modine Manufacturing by 90.9% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,031 shares of the auto parts company’s stock worth $137,000 after purchasing an additional 491 shares during the period. Harbor Capital Advisors Inc. increased its holdings in Modine Manufacturing by 58.0% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 69,839 shares of the auto parts company’s stock worth $9,274,000 after purchasing an additional 25,648 shares during the period. Fred Alger Management LLC increased its holdings in Modine Manufacturing by 5.1% during the 2nd quarter. Fred Alger Management LLC now owns 369,840 shares of the auto parts company’s stock worth $37,054,000 after purchasing an additional 17,889 shares during the period. Finally, Victory Capital Management Inc. increased its holdings in Modine Manufacturing by 20.1% during the 3rd quarter. Victory Capital Management Inc. now owns 157,200 shares of the auto parts company’s stock worth $20,875,000 after purchasing an additional 26,348 shares during the period. 95.23% of the stock is currently owned by hedge funds and other institutional investors.

Modine Manufacturing Trading Up 1.2 %

Shares of NYSE:MOD opened at $140.61 on Thursday. Modine Manufacturing has a 12-month low of $50.59 and a 12-month high of $146.84. The business’s fifty day simple moving average is $130.16 and its 200-day simple moving average is $114.16. The company has a market capitalization of $7.38 billion, a PE ratio of 46.10, a P/E/G ratio of 1.06 and a beta of 2.31. The company has a current ratio of 1.77, a quick ratio of 1.09 and a debt-to-equity ratio of 0.41.

Modine Manufacturing (NYSE:MOD) last posted its quarterly earnings data on Tuesday, October 29th. The auto parts company reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.05. The firm had revenue of $658.00 million during the quarter, compared to analysts’ expectations of $646.86 million. Modine Manufacturing had a return on equity of 23.96% and a net margin of 6.59%. The business’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.89 EPS. As a group, equities research analysts predict that Modine Manufacturing will post 3.83 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have commented on the company. DA Davidson raised their price objective on Modine Manufacturing from $140.00 to $155.00 and gave the stock a “buy” rating in a report on Tuesday, September 24th. Oppenheimer lifted their price target on Modine Manufacturing from $144.00 to $145.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $146.67.

Modine Manufacturing Profile

Modine Manufacturing Company provides thermal management products and solutions in the United States, Italy, Hungary, China, the United Kingdom, and internationally. It operates through Climate Solutions and Performance Technologies segments. The company offers heat transfer coils, including heat recovery and round tube plate fin coils; gas-fired, hydronic, electric and oilfired unit heaters; roof-mounted direct- and indirect-fired makeup air units; duct furnaces; infrared units; perimeter heating products; single packaged unit ventilators; modular chillers; air handler and condensing units; ceiling cassettes; evaporator unit coolers, remote condensers, fluid coolers, gas coolers, and dry and brine coolers; and motor and generator cooling coils, transformer oil coolers, radiators, dryers, and industrial heat exchangers.