Alberta Investment Management Corp Raises Stock Holdings in Modine Manufacturing (NYSE:MOD)

Alberta Investment Management Corp boosted its holdings in Modine Manufacturing (NYSE:MOD) by 27.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 58,437 shares of the auto parts company’s stock after purchasing an additional 12,536 shares during the period. Alberta Investment Management Corp owned about 0.11% of Modine Manufacturing worth $6,775,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of MOD. Farther Finance Advisors LLC lifted 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 buying an additional 491 shares during the last quarter. Entropy Technologies LP bought a new position in Modine Manufacturing during the 4th quarter worth approximately $452,000. Legend Financial Advisors Inc. lifted its holdings in Modine Manufacturing by 2.9% during the 4th quarter. Legend Financial Advisors Inc. now owns 9,929 shares of the auto parts company’s stock worth $1,151,000 after buying an additional 279 shares during the last quarter. Harbor Capital Advisors Inc. lifted 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 buying an additional 25,648 shares during the last quarter. Finally, Campbell Newman Asset Management Inc. lifted its holdings in Modine Manufacturing by 38.9% during the 4th quarter. Campbell Newman Asset Management Inc. now owns 24,249 shares of the auto parts company’s stock worth $2,811,000 after buying an additional 6,786 shares during the last quarter. Hedge funds and other institutional investors own 95.23% of the company’s stock.

Modine Manufacturing Stock Down 3.9 %

Shares of Modine Manufacturing stock opened at $88.80 on Thursday. The company has a current ratio of 1.87, a quick ratio of 1.18 and a debt-to-equity ratio of 0.38. The business’s 50 day simple moving average is $115.58 and its 200-day simple moving average is $120.10. The stock has a market capitalization of $4.67 billion, a price-to-earnings ratio of 29.80, a PEG ratio of 0.70 and a beta of 2.31. Modine Manufacturing has a twelve month low of $75.23 and a twelve month high of $146.84.

Modine Manufacturing (NYSE:MOD) last announced its quarterly earnings results on Tuesday, February 4th. The auto parts company reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.79 by $0.13. Modine Manufacturing had a return on equity of 24.25% and a net margin of 6.31%. Equities research analysts forecast that Modine Manufacturing will post 3.88 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, Oppenheimer increased their target price on Modine Manufacturing from $144.00 to $145.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st.

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.