Ardsley Advisory Partners LP Makes New Investment in Modine Manufacturing Company $MOD

Ardsley Advisory Partners LP bought a new position in Modine Manufacturing Company (NYSE:MOD) in the 4th quarter, Holdings Channel reports. The firm bought 3,600 shares of the auto parts company’s stock, valued at approximately $481,000.

Other hedge funds have also made changes to their positions in the company. Perigon Wealth Management LLC lifted its holdings in shares of Modine Manufacturing by 583.1% in the 4th quarter. Perigon Wealth Management LLC now owns 15,171 shares of the auto parts company’s stock worth $2,025,000 after buying an additional 12,950 shares during the period. Wisconsin Capital Management LLC lifted its stake in shares of Modine Manufacturing by 227.9% during the 3rd quarter. Wisconsin Capital Management LLC now owns 23,071 shares of the auto parts company’s stock worth $3,280,000 after purchasing an additional 16,034 shares during the last quarter. Congress Asset Management Co. lifted its stake in shares of Modine Manufacturing by 7.8% during the 4th quarter. Congress Asset Management Co. now owns 568,853 shares of the auto parts company’s stock worth $75,948,000 after purchasing an additional 41,373 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Modine Manufacturing by 14.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,171,497 shares of the auto parts company’s stock worth $166,540,000 after purchasing an additional 151,543 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in shares of Modine Manufacturing by 1.9% during the 3rd quarter. Vanguard Group Inc. now owns 5,080,874 shares of the auto parts company’s stock worth $722,297,000 after purchasing an additional 97,035 shares during the last quarter. 95.23% of the stock is currently owned by hedge funds and other institutional investors.

Modine Manufacturing Trading Up 0.0%

Modine Manufacturing stock opened at $285.09 on Thursday. The stock has a 50-day moving average of $264.32 and a two-hundred day moving average of $208.21. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.25 and a current ratio of 1.94. Modine Manufacturing Company has a one year low of $86.48 and a one year high of $323.25. The stock has a market cap of $15.06 billion, a PE ratio of 127.27, a price-to-earnings-growth ratio of 0.92 and a beta of 1.65.

Modine Manufacturing (NYSE:MOD) last released its quarterly earnings results on Tuesday, May 26th. The auto parts company reported $1.71 EPS for the quarter, beating analysts’ consensus estimates of $1.51 by $0.20. Modine Manufacturing had a return on equity of 24.39% and a net margin of 3.82%.The company had revenue of $954.40 million during the quarter, compared to analysts’ expectations of $920.67 million. During the same period last year, the business posted $1.12 earnings per share. The firm’s revenue was up 47.5% compared to the same quarter last year. On average, research analysts anticipate that Modine Manufacturing Company will post 7.73 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently weighed in on MOD. Weiss Ratings upgraded Modine Manufacturing from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, May 28th. UBS Group upped their price objective on Modine Manufacturing to $310.00 and gave the stock a “buy” rating in a research note on Wednesday, May 27th. Oppenheimer upped their price objective on Modine Manufacturing from $271.00 to $325.00 and gave the stock an “outperform” rating in a research note on Thursday, May 28th. DA Davidson upped their price objective on Modine Manufacturing from $265.00 to $330.00 and gave the stock a “buy” rating in a research note on Friday, May 29th. Finally, Wall Street Zen upgraded Modine Manufacturing from a “hold” rating to a “buy” rating in a research note on Saturday, May 30th. Seven equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $327.14.

About Modine Manufacturing

Modine Manufacturing Company (NYSE:MOD) is a global provider of thermal management solutions serving automotive, commercial transportation, heavy-duty off-highway, industrial, HVAC and refrigeration markets. The company designs, manufactures, tests and markets a broad array of heat-transfer products that manage temperature and energy efficiency for engines, power electronics and building climate control systems.

Its product portfolio includes heat exchangers, condensers, radiators, evaporators, charge air coolers, fan systems and associated controls.