Modine Manufacturing Company $MOD Shares Purchased by SIR Capital Management L.P.

SIR Capital Management L.P. increased its position in shares of Modine Manufacturing Company (NYSE:MOD) by 144.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 65,388 shares of the auto parts company’s stock after purchasing an additional 38,588 shares during the period. SIR Capital Management L.P.’s holdings in Modine Manufacturing were worth $8,730,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of Modine Manufacturing by 1.9% during the third 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 in the last quarter. Wasatch Advisors LP grew its stake in shares of Modine Manufacturing by 1.4% during the second quarter. Wasatch Advisors LP now owns 1,792,413 shares of the auto parts company’s stock worth $176,553,000 after purchasing an additional 23,955 shares in the last quarter. Capital Research Global Investors grew its stake in shares of Modine Manufacturing by 13.8% during the fourth quarter. Capital Research Global Investors now owns 1,478,224 shares of the auto parts company’s stock worth $197,358,000 after purchasing an additional 179,617 shares in the last quarter. State Street Corp grew its stake in shares of Modine Manufacturing by 4.2% during the second quarter. State Street Corp now owns 1,309,488 shares of the auto parts company’s stock worth $128,985,000 after purchasing an additional 53,351 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of Modine Manufacturing by 14.9% during the third 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 in the last quarter. Institutional investors and hedge funds own 95.23% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on MOD. Zacks Research downgraded shares of Modine Manufacturing from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 13th. Roth Mkm initiated coverage on shares of Modine Manufacturing in a research note on Wednesday, February 18th. They issued a “buy” rating and a $263.00 price objective for the company. Weiss Ratings upgraded shares of Modine Manufacturing from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, May 28th. B. Riley Financial upped their price objective on shares of Modine Manufacturing from $250.00 to $264.00 and gave the company a “buy” rating in a research note on Tuesday, May 26th. Finally, UBS Group upped their price objective on shares of Modine Manufacturing to $310.00 and gave the company a “buy” rating in a research note on Wednesday, May 27th. Seven research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $327.14.

Modine Manufacturing Price Performance

Shares of MOD opened at $273.16 on Friday. Modine Manufacturing Company has a fifty-two week low of $86.48 and a fifty-two week high of $323.25. The company has a market capitalization of $14.43 billion, a price-to-earnings ratio of 121.95, a price-to-earnings-growth ratio of 0.88 and a beta of 1.65. The firm has a 50-day simple moving average of $260.23 and a 200-day simple moving average of $205.14. 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 (NYSE:MOD) last announced its earnings results on Tuesday, May 26th. The auto parts company reported $1.71 earnings per share for the quarter, topping the consensus estimate of $1.51 by $0.20. Modine Manufacturing had a net margin of 3.82% and a return on equity of 24.39%. The business had revenue of $954.40 million during the quarter, compared to the consensus estimate of $920.67 million. During the same quarter in the prior year, the firm earned $1.12 earnings per share. The business’s quarterly revenue was up 47.5% compared to the same quarter last year. On average, equities research analysts anticipate that Modine Manufacturing Company will post 7.73 earnings per share for the current year.

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.