Modine Manufacturing (NYSE:MOD) Shares Purchased by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky increased its position in shares of Modine Manufacturing (NYSE:MOD) by 11.0% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 16,345 shares of the auto parts company’s stock after buying an additional 1,619 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Modine Manufacturing were worth $2,170,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC boosted its stake in shares of 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 acquiring an additional 491 shares in the last quarter. Harbor Capital Advisors Inc. raised its holdings in Modine Manufacturing by 58.0% in 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 boosted its position in Modine Manufacturing by 5.1% during the second 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 in the last quarter. Victory Capital Management Inc. grew its holdings in Modine Manufacturing by 20.1% in the third quarter. Victory Capital Management Inc. now owns 157,200 shares of the auto parts company’s stock valued at $20,875,000 after purchasing an additional 26,348 shares during the period. Finally, Raymond James & Associates increased its position in shares of Modine Manufacturing by 15.8% in the third quarter. Raymond James & Associates now owns 30,812 shares of the auto parts company’s stock valued at $4,092,000 after buying an additional 4,206 shares in the last quarter. Institutional investors and hedge funds own 95.23% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on MOD shares. Oppenheimer increased their target price on Modine Manufacturing from $144.00 to $145.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. DA Davidson increased their price objective on shares of Modine Manufacturing from $140.00 to $155.00 and gave the company a “buy” rating in a report on Tuesday, September 24th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $146.67.

Modine Manufacturing Stock Performance

NYSE MOD opened at $134.66 on Tuesday. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.77 and a quick ratio of 1.09. Modine Manufacturing has a 1-year low of $55.87 and a 1-year high of $146.84. The company has a market cap of $7.07 billion, a PE ratio of 44.15, a price-to-earnings-growth ratio of 1.01 and a beta of 2.31. The stock’s 50 day simple moving average is $130.39 and its 200-day simple moving average is $116.10.

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

Modine Manufacturing Company 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.