9,280 Shares in Modine Manufacturing Company $MOD Bought by Delta Global Management LP

Delta Global Management LP bought a new position in Modine Manufacturing Company (NYSE:MOD) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 9,280 shares of the auto parts company’s stock, valued at approximately $1,239,000.

Other hedge funds also recently made changes to their positions in the company. Perigon Wealth Management LLC increased its stake in shares of Modine Manufacturing by 583.1% in the fourth 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 increased its stake in shares of Modine Manufacturing by 227.9% in the third quarter. Wisconsin Capital Management LLC now owns 23,071 shares of the auto parts company’s stock worth $3,280,000 after buying an additional 16,034 shares during the period. Congress Asset Management Co. increased its stake in shares of Modine Manufacturing by 7.8% in the fourth quarter. Congress Asset Management Co. now owns 568,853 shares of the auto parts company’s stock worth $75,948,000 after buying an additional 41,373 shares during the period. JPMorgan Chase & Co. increased its stake in shares of 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 worth $166,540,000 after buying an additional 151,543 shares during the period. Finally, Vanguard Group Inc. increased its stake in shares of 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 worth $722,297,000 after buying an additional 97,035 shares during the period. 95.23% of the stock is owned by hedge funds and other institutional investors.

Modine Manufacturing Trading Down 0.2%

NYSE MOD opened at $285.20 on Wednesday. The company has a quick ratio of 1.25, a current ratio of 1.94 and a debt-to-equity ratio of 0.32. Modine Manufacturing Company has a twelve month low of $86.48 and a twelve month high of $323.25. The firm has a market capitalization of $15.06 billion, a PE ratio of 127.32, a P/E/G ratio of 0.92 and a beta of 1.65. The stock’s 50 day moving average is $262.90 and its 200 day moving average is $207.32.

Modine Manufacturing (NYSE:MOD) last released its quarterly earnings results on Tuesday, May 26th. The auto parts company reported $1.71 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $920.67 million. During the same period in the previous year, the company posted $1.12 earnings per share. The firm’s revenue was up 47.5% on a year-over-year basis. Research analysts forecast that Modine Manufacturing Company will post 7.73 earnings per share for the current fiscal year.

Analysts Set New Price Targets

MOD has been the topic of several research analyst reports. Glj Research reissued a “buy” rating and set a $428.00 target price on shares of Modine Manufacturing in a research note on Monday, June 1st. Oppenheimer boosted their target price on Modine Manufacturing from $271.00 to $325.00 and gave the company an “outperform” rating in a research note on Thursday, May 28th. Zacks Research cut Modine Manufacturing from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 13th. Roth Mkm initiated coverage on Modine Manufacturing in a research note on Wednesday, February 18th. They set a “buy” rating and a $263.00 target price on the stock. Finally, DA Davidson boosted their target price on Modine Manufacturing from $265.00 to $330.00 and gave the company a “buy” rating in a research note on Friday, May 29th. Seven analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price 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.