Jain Global LLC Takes $28.49 Million Position in Modine Manufacturing Company $MOD

Jain Global LLC purchased a new position in shares of Modine Manufacturing Company (NYSE:MOD) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 200,392 shares of the auto parts company’s stock, valued at approximately $28,488,000. Jain Global LLC owned 0.38% of Modine Manufacturing as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of MOD. Hilltop Holdings Inc. acquired a new position in Modine Manufacturing during the 3rd quarter worth about $252,000. Granahan Investment Management LLC increased its stake in shares of Modine Manufacturing by 76.2% in the third quarter. Granahan Investment Management LLC now owns 186,914 shares of the auto parts company’s stock valued at $26,572,000 after buying an additional 80,810 shares during the period. Candelo Capital Management LP bought a new position in shares of Modine Manufacturing during the third quarter worth about $5,552,000. California Public Employees Retirement System raised its position in shares of Modine Manufacturing by 7.1% during the third quarter. California Public Employees Retirement System now owns 73,571 shares of the auto parts company’s stock worth $10,459,000 after acquiring an additional 4,869 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its stake in shares of Modine Manufacturing by 4.6% in the third quarter. Ameriprise Financial Inc. now owns 837,448 shares of the auto parts company’s stock worth $119,052,000 after acquiring an additional 36,977 shares during the period. Institutional investors own 95.23% of the company’s stock.

Modine Manufacturing Price Performance

Shares of MOD opened at $188.79 on Monday. Modine Manufacturing Company has a 52-week low of $64.79 and a 52-week high of $243.80. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.28 and a current ratio of 2.19. The business’s 50 day moving average price is $183.57 and its two-hundred day moving average price is $160.09. The firm has a market cap of $9.95 billion, a PE ratio of 104.88, a price-to-earnings-growth ratio of 1.15 and a beta of 1.66.

Modine Manufacturing (NYSE:MOD) last posted its quarterly earnings results on Wednesday, February 4th. The auto parts company reported $1.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.20. The firm had revenue of $805.00 million for the quarter, compared to analysts’ expectations of $763.54 million. Modine Manufacturing had a return on equity of 22.99% and a net margin of 3.40%.The company’s revenue for the quarter was up 30.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.92 EPS. On average, equities analysts anticipate that Modine Manufacturing Company will post 3.88 EPS for the current year.

Analyst Upgrades and Downgrades

MOD has been the topic of several analyst reports. DA Davidson upped their target price on Modine Manufacturing from $255.00 to $265.00 and gave the company a “buy” rating in a report on Monday, February 9th. Zacks Research upgraded shares of Modine Manufacturing from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 30th. Wall Street Zen lowered shares of Modine Manufacturing from a “buy” rating to a “hold” rating in a research note on Sunday, February 22nd. UBS Group initiated coverage on shares of Modine Manufacturing in a research report on Thursday, November 20th. They set a “buy” rating and a $173.00 price objective for the company. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Modine Manufacturing in a research note on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $223.20.

Insider Transactions at Modine Manufacturing

In other Modine Manufacturing news, Director Suresh V. Garimella sold 1,100 shares of the firm’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $184.07, for a total value of $202,477.00. Following the completion of the sale, the director directly owned 79,856 shares in the company, valued at approximately $14,699,093.92. This trade represents a 1.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.48% of the stock is currently owned by corporate insiders.

Modine Manufacturing Profile

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.