Bessemer Group Inc. Purchases 124,568 Shares of Modine Manufacturing Company $MOD

Bessemer Group Inc. increased its position in Modine Manufacturing Company (NYSE:MOD) by 1,117.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 135,719 shares of the auto parts company’s stock after buying an additional 124,568 shares during the period. Bessemer Group Inc.’s holdings in Modine Manufacturing were worth $18,119,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of MOD. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Modine Manufacturing by 26.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,223 shares of the auto parts company’s stock worth $2,857,000 after buying an additional 7,831 shares during the period. California Public Employees Retirement System boosted its holdings in Modine Manufacturing by 8.3% in the 2nd quarter. California Public Employees Retirement System now owns 68,702 shares of the auto parts company’s stock worth $6,767,000 after buying an additional 5,244 shares during the period. State Street Corp boosted its holdings in Modine Manufacturing by 4.2% in the 2nd quarter. State Street Corp now owns 1,309,488 shares of the auto parts company’s stock worth $128,985,000 after buying an additional 53,351 shares during the period. Qube Research & Technologies Ltd boosted its holdings in Modine Manufacturing by 106.3% in the 2nd quarter. Qube Research & Technologies Ltd now owns 161,319 shares of the auto parts company’s stock worth $15,890,000 after buying an additional 83,105 shares during the period. Finally, Sei Investments Co. boosted its holdings in Modine Manufacturing by 70.8% in the 2nd quarter. Sei Investments Co. now owns 309,653 shares of the auto parts company’s stock worth $30,501,000 after buying an additional 128,348 shares during the period. Institutional investors own 95.23% of the company’s stock.

Modine Manufacturing Stock Down 6.9%

Shares of NYSE MOD opened at $271.88 on Friday. The firm’s 50-day moving average price is $232.82 and its 200-day moving average price is $187.40. The company has a current ratio of 2.19, a quick ratio of 1.28 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $14.34 billion, a price-to-earnings ratio of 151.04, a P/E/G ratio of 1.10 and a beta of 1.66. Modine Manufacturing Company has a 12-month low of $86.48 and a 12-month high of $294.05.

Analysts Set New Price Targets

Several brokerages recently weighed in on MOD. Roth Mkm began coverage on shares of Modine Manufacturing in a report on Wednesday, February 18th. They issued a “buy” rating and a $263.00 target price for the company. Glj Research started coverage on shares of Modine Manufacturing in a report on Monday, March 30th. They issued a “buy” rating and a $290.00 target price for the company. Zacks Research downgraded shares of Modine Manufacturing from a “strong-buy” rating to a “hold” rating in a report on Monday, April 13th. DA Davidson reiterated a “buy” rating and issued a $265.00 price target on shares of Modine Manufacturing in a report on Tuesday, March 31st. Finally, Oppenheimer lifted their price target on shares of Modine Manufacturing from $220.00 to $240.00 and gave the company an “outperform” rating in a report on Friday, February 6th. Six analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Modine Manufacturing presently has an average rating of “Moderate Buy” and a consensus target price of $234.33.

Modine Manufacturing 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.