SIR Capital Management L.P. Increases Position in Modine Manufacturing Company $MOD

SIR Capital Management L.P. raised its position in Modine Manufacturing Company (NYSE:MOD) by 144.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 65,388 shares of the auto parts company’s stock after purchasing an additional 38,588 shares during the quarter. SIR Capital Management L.P. owned 0.12% of Modine Manufacturing worth $8,730,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in Modine Manufacturing by 1.9% in the third quarter. Vanguard Group Inc. now owns 5,080,874 shares of the auto parts company’s stock valued at $722,297,000 after purchasing an additional 97,035 shares during the period. Wasatch Advisors LP raised its position in Modine Manufacturing by 1.4% in the second quarter. Wasatch Advisors LP now owns 1,792,413 shares of the auto parts company’s stock valued at $176,553,000 after purchasing an additional 23,955 shares during the period. Capital Research Global Investors raised its position in Modine Manufacturing by 13.8% in the fourth quarter. Capital Research Global Investors now owns 1,478,224 shares of the auto parts company’s stock valued at $197,358,000 after purchasing an additional 179,617 shares during the period. State Street Corp raised its position in Modine Manufacturing by 4.2% in the second quarter. State Street Corp now owns 1,309,488 shares of the auto parts company’s stock valued at $128,985,000 after purchasing an additional 53,351 shares during the period. Finally, JPMorgan Chase & Co. raised its position in Modine Manufacturing by 14.9% in the third quarter. JPMorgan Chase & Co. now owns 1,171,497 shares of the auto parts company’s stock valued at $166,540,000 after purchasing an additional 151,543 shares during the period. Hedge funds and other institutional investors own 95.23% of the company’s stock.

Modine Manufacturing Stock Up 0.6%

Modine Manufacturing stock opened at $273.16 on Friday. Modine Manufacturing Company has a twelve month low of $86.48 and a twelve month high of $323.25. The stock’s fifty day simple moving average is $260.23 and its 200-day simple moving average is $205.14. The company has a current ratio of 1.94, a quick ratio of 1.25 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $14.43 billion, a P/E ratio of 121.95, a P/E/G ratio of 0.88 and a beta of 1.65.

Modine Manufacturing (NYSE:MOD) last posted its quarterly earnings data on Tuesday, May 26th. The auto parts company reported $1.71 earnings per share for the quarter, topping 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 business had revenue of $954.40 million for the quarter, compared to analyst estimates of $920.67 million. During the same quarter in the prior year, the company earned $1.12 earnings per share. The company’s revenue was up 47.5% on a year-over-year basis. As a group, equities analysts expect that Modine Manufacturing Company will post 7.73 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have issued reports on MOD shares. B. Riley Financial boosted their target price on Modine Manufacturing from $250.00 to $264.00 and gave the company a “buy” rating in a research report on Tuesday, May 26th. Roth Mkm started coverage on Modine Manufacturing in a research report on Wednesday, February 18th. They issued a “buy” rating and a $263.00 target price on the stock. UBS Group boosted their target price on Modine Manufacturing to $310.00 and gave the company a “buy” rating in a research report on Wednesday, May 27th. Glj Research reaffirmed a “buy” rating and set a $428.00 price objective on shares of Modine Manufacturing in a research report on Monday, June 1st. Finally, Zacks Research lowered Modine Manufacturing from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 13th. Seven investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, Modine Manufacturing has an average rating of “Moderate Buy” and a consensus target price of $327.14.

Modine Manufacturing Company 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.