Modine Manufacturing Company $MOD Holdings Raised by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA grew its stake in Modine Manufacturing Company (NYSE:MOD) by 247.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 441,705 shares of the auto parts company’s stock after acquiring an additional 314,668 shares during the period. Pictet Asset Management Holding SA’s holdings in Modine Manufacturing were worth $82,687,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. Rakuten Securities Inc. bought a new stake in shares of Modine Manufacturing during the second quarter valued at approximately $40,000. PenderFund Capital Management Ltd. bought a new position in Modine Manufacturing in the 2nd quarter worth approximately $42,000. Vega Investment Solutions bought a new position in Modine Manufacturing in the 2nd quarter worth approximately $52,000. TD Waterhouse Canada Inc. acquired a new position in Modine Manufacturing during the 2nd quarter worth $55,000. Finally, Optiver Holding B.V. lifted its holdings in Modine Manufacturing by 19.7% during the 1st quarter. Optiver Holding B.V. now owns 237 shares of the auto parts company’s stock worth $51,000 after buying an additional 39 shares in the last quarter. 95.23% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have commented on the company. DA Davidson reiterated a “buy” rating and issued a $330.00 price objective on shares of Modine Manufacturing in a research report on Tuesday, October 27th. UBS Group cut their price target on Modine Manufacturing from $355.00 to $160.00 and set a “buy” rating on the stock in a research note on Thursday, November 5th. KeyCorp decreased their price target on Modine Manufacturing from $280.00 to $225.00 and set an “overweight” rating on the stock in a report on Wednesday, November 4th. B. Riley Financial lowered their price objective on Modine Manufacturing from $305.00 to $285.00 and set a “buy” rating for the company in a research report on Thursday, October 29th. Finally, Wall Street Zen cut Modine Manufacturing from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Modine Manufacturing has an average rating of “Moderate Buy” and a consensus target price of $264.89.

Modine Manufacturing Price Performance

MOD opened at $106.13 on Tuesday. The company has a fifty day moving average price of $164.81 and a two-hundred day moving average price of $213.97. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.22 and a current ratio of 2.04. Modine Manufacturing Company has a 52 week low of $87.84 and a 52 week high of $323.25. The firm has a market capitalization of $5.64 billion, a PE ratio of 17.05, a P/E/G ratio of 0.35 and a beta of 1.86.

Modine Manufacturing (NYSE:MOD) last posted its quarterly earnings results on Tuesday, November 3rd. The auto parts company reported $1.35 earnings per share for the quarter, missing analysts’ consensus estimates of $1.47 by ($0.12). The company had revenue of $994.40 million during the quarter, compared to analyst estimates of $978.31 million. Modine Manufacturing had a net margin of 3.58% and a return on equity of 26.28%. The business’s revenue for the quarter was up 34.6% compared to the same quarter last year. During the same period last year, the company earned $0.83 EPS. As a group, analysts anticipate that Modine Manufacturing Company will post 6.55 earnings per share for the current year.

Modine Manufacturing Profile

Modine Manufacturing Company is a global provider of thermal management solutions, serving markets that need to control heating, cooling and temperature-related performance. Founded in 1916 by Arthur B. Modine, the company is headquartered in Racine, Wisconsin.

Through its Climate Solutions business, Modine supplies heating, ventilation and air conditioning equipment for commercial and industrial buildings, as well as cooling systems for data centers. Its offerings include chillers, heat exchangers and other equipment designed to manage indoor environments and remove heat from technology infrastructure.

Modine’s Performance Technologies business develops thermal management products for vehicles and other equipment.