Legato Capital Management LLC Increases Stake in Modine Manufacturing Company $MOD

Legato Capital Management LLC raised its holdings in shares of Modine Manufacturing Company (NYSE:MOD) by 31.1% during the 3rd quarter, HoldingsChannel reports. The fund owned 31,173 shares of the auto parts company’s stock after acquiring an additional 7,387 shares during the quarter. Legato Capital Management LLC’s holdings in Modine Manufacturing were worth $4,432,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of MOD. First Horizon Corp bought a new position in Modine Manufacturing in the 3rd quarter worth $38,000. Toth Financial Advisory Corp purchased a new position in Modine Manufacturing during the third quarter valued at $57,000. Parkside Financial Bank & Trust grew its holdings in Modine Manufacturing by 2,025.0% during the second quarter. Parkside Financial Bank & Trust now owns 425 shares of the auto parts company’s stock valued at $42,000 after purchasing an additional 405 shares during the period. AdvisorShares Investments LLC raised its stake in shares of Modine Manufacturing by 154.0% in the third quarter. AdvisorShares Investments LLC now owns 475 shares of the auto parts company’s stock worth $68,000 after buying an additional 288 shares during the period. Finally, Elevation Point Wealth Partners LLC purchased a new position in shares of Modine Manufacturing during the 2nd quarter valued at about $57,000. Institutional investors own 95.23% of the company’s stock.

Insider Activity at Modine Manufacturing

In related news, Director Suresh V. Garimella sold 1,100 shares of the firm’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $184.07, for a total value of $202,477.00. Following the completion of the transaction, the director directly owned 79,856 shares of the company’s stock, valued at approximately $14,699,093.92. This trade represents a 1.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 2.48% of the company’s stock.

Modine Manufacturing Stock Up 4.9%

Shares of MOD stock opened at $238.32 on Tuesday. The company’s fifty day simple moving average is $172.23 and its two-hundred day simple moving average is $156.23. Modine Manufacturing Company has a 52 week low of $64.79 and a 52 week high of $243.80. The stock has a market cap of $12.57 billion, a P/E ratio of 132.40, a PEG ratio of 1.39 and a beta of 1.66. The company has a quick ratio of 1.28, a current ratio of 2.19 and a debt-to-equity ratio of 0.51.

Modine Manufacturing (NYSE:MOD) last issued its earnings results on Wednesday, February 4th. The auto parts company reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.20. The firm had revenue of $805.00 million for the quarter, compared to analysts’ expectations of $763.54 million. Modine Manufacturing had a return on equity of 22.99% and a net margin of 3.40%.The business’s revenue was up 30.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.92 earnings per share. Analysts predict that Modine Manufacturing Company will post 3.88 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Zacks Research upgraded shares of Modine Manufacturing from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 30th. Weiss Ratings reissued a “hold (c)” rating on shares of Modine Manufacturing in a research note on Monday, December 29th. DA Davidson raised their price objective on shares of Modine Manufacturing from $255.00 to $265.00 and gave the company a “buy” rating in a research report on Monday, February 9th. Oppenheimer upped their target price on shares of Modine Manufacturing from $220.00 to $240.00 and gave the stock an “outperform” rating in a report on Friday, February 6th. Finally, Roth Mkm started coverage on Modine Manufacturing in a research note on Wednesday, February 18th. They issued a “buy” rating and a $263.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, Modine Manufacturing currently has an average rating of “Buy” and a consensus price target of $223.20.

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.