DUTCH ASSET Corp Takes Position in Modine Manufacturing Company $MOD

DUTCH ASSET Corp acquired a new position in shares of Modine Manufacturing Company (NYSE:MOD) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 8,419 shares of the auto parts company’s stock, valued at approximately $1,124,000. Modine Manufacturing makes up about 0.9% of DUTCH ASSET Corp’s portfolio, making the stock its 26th largest holding.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Capital Research Global Investors bought a new stake in Modine Manufacturing in the 3rd quarter valued at $184,610,000. Invesco Ltd. increased its holdings in Modine Manufacturing by 120.4% during the 4th quarter. Invesco Ltd. now owns 1,318,529 shares of the auto parts company’s stock worth $176,037,000 after purchasing an additional 720,389 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Modine Manufacturing by 31.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,333,174 shares of the auto parts company’s stock worth $311,503,000 after purchasing an additional 560,131 shares in the last quarter. WT Asset Management Ltd acquired a new stake in shares of Modine Manufacturing in the 4th quarter valued at about $69,255,000. Finally, Norges Bank acquired a new stake in shares of Modine Manufacturing in the 4th quarter valued at about $58,309,000. 95.23% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Oppenheimer upped their price objective on Modine Manufacturing from $271.00 to $325.00 and gave the stock an “outperform” rating in a research report on Thursday, May 28th. DA Davidson lifted their target price on Modine Manufacturing from $265.00 to $330.00 and gave the company a “buy” rating in a research report on Friday, May 29th. Glj Research restated a “buy” rating and issued a $428.00 target price on shares of Modine Manufacturing in a research note on Monday, June 1st. UBS Group upped their price target on Modine Manufacturing to $310.00 and gave the stock a “buy” rating in a research report on Wednesday, May 27th. Finally, Weiss Ratings raised shares of Modine Manufacturing from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, May 28th. Seven equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, Modine Manufacturing has a consensus rating of “Moderate Buy” and a consensus price target of $327.14.

Modine Manufacturing Price Performance

Shares of NYSE MOD opened at $295.72 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.94 and a quick ratio of 1.25. The business has a 50-day moving average of $267.17 and a 200-day moving average of $209.75. The stock has a market capitalization of $15.62 billion, a price-to-earnings ratio of 132.02, a PEG ratio of 0.96 and a beta of 1.65. Modine Manufacturing Company has a fifty-two week low of $86.48 and a fifty-two week high of $323.25.

Modine Manufacturing (NYSE:MOD) last released its earnings results on Tuesday, May 26th. The auto parts company reported $1.71 earnings per share (EPS) for the quarter, topping 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 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 posted $1.12 earnings per share. Modine Manufacturing’s revenue was up 47.5% on a year-over-year basis. As a group, sell-side analysts predict that Modine Manufacturing Company will post 7.73 earnings per share for the current fiscal year.

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.