Arcadia Investment Management Corp MI Acquires Shares of 2,300 Modine Manufacturing (NYSE:MOD)

Arcadia Investment Management Corp MI acquired a new stake in shares of Modine Manufacturing (NYSE:MOD) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 2,300 shares of the auto parts company’s stock, valued at approximately $267,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in MOD. Wasatch Advisors LP purchased a new position in Modine Manufacturing during the third quarter valued at $91,193,000. FMR LLC lifted its position in Modine Manufacturing by 14.0% during the third quarter. FMR LLC now owns 4,417,927 shares of the auto parts company’s stock valued at $586,657,000 after buying an additional 543,419 shares during the period. Summit Partners Public Asset Management LLC purchased a new position in Modine Manufacturing during the third quarter valued at $31,961,000. Fiera Capital Corp purchased a new position in Modine Manufacturing during the third quarter valued at $21,195,000. Finally, New York State Common Retirement Fund raised its position in shares of Modine Manufacturing by 63.4% in the 3rd quarter. New York State Common Retirement Fund now owns 225,716 shares of the auto parts company’s stock worth $29,973,000 after purchasing an additional 87,553 shares during the last quarter. Hedge funds and other institutional investors own 95.23% of the company’s stock.

Analyst Upgrades and Downgrades

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

Modine Manufacturing Price Performance

MOD opened at $93.92 on Friday. The stock has a 50-day moving average price of $114.73 and a 200-day moving average price of $119.89. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.87 and a quick ratio of 1.18. The firm has a market cap of $4.94 billion, a PE ratio of 31.52, a P/E/G ratio of 0.67 and a beta of 2.31. Modine Manufacturing has a 1 year low of $75.30 and a 1 year high of $146.84.

Modine Manufacturing (NYSE:MOD) last posted its quarterly earnings results on Tuesday, February 4th. The auto parts company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.13. Modine Manufacturing had a return on equity of 24.25% and a net margin of 6.31%. Sell-side analysts predict that Modine Manufacturing will post 3.88 earnings per share for the current fiscal year.

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.