Bay Rivers Group Grows Stock Position in Modine Manufacturing (NYSE:MOD)

Bay Rivers Group increased its stake in shares of Modine Manufacturing (NYSE:MOD) by 6.5% in the 4th quarter, Holdings Channel.com reports. The firm owned 6,099 shares of the auto parts company’s stock after purchasing an additional 372 shares during the period. Bay Rivers Group’s holdings in Modine Manufacturing were worth $707,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of MOD. Private Trust Co. NA boosted its holdings in shares of Modine Manufacturing by 650.5% in the third quarter. Private Trust Co. NA now owns 773 shares of the auto parts company’s stock valued at $103,000 after acquiring an additional 670 shares in the last quarter. Farther Finance Advisors LLC lifted its position in Modine Manufacturing by 90.9% in the third quarter. Farther Finance Advisors LLC now owns 1,031 shares of the auto parts company’s stock valued at $137,000 after purchasing an additional 491 shares during the period. Nisa Investment Advisors LLC boosted its holdings in Modine Manufacturing by 6.5% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,353 shares of the auto parts company’s stock valued at $157,000 after purchasing an additional 82 shares in the last quarter. KBC Group NV boosted its holdings in Modine Manufacturing by 47.8% in the 3rd quarter. KBC Group NV now owns 1,456 shares of the auto parts company’s stock valued at $193,000 after purchasing an additional 471 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd acquired a new position in Modine Manufacturing during the 3rd quarter worth approximately $196,000. 95.23% of the stock is owned by institutional investors and hedge funds.

Modine Manufacturing Stock Down 26.2 %

MOD stock opened at $97.55 on Tuesday. Modine Manufacturing has a 52 week low of $60.00 and a 52 week high of $146.84. The company has a current ratio of 1.77, a quick ratio of 1.09 and a debt-to-equity ratio of 0.41. The company has a market cap of $5.12 billion, a P/E ratio of 31.98, a P/E/G ratio of 1.10 and a beta of 2.34. The company’s 50-day moving average price is $128.76 and its 200 day moving average price is $121.34.

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

Analyst Upgrades and Downgrades

Separately, Oppenheimer lifted their price target on Modine Manufacturing from $144.00 to $145.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $146.67.

About Modine Manufacturing

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.