Teton Advisors LLC Buys New Shares in Modine Manufacturing Company $MOD

Teton Advisors LLC purchased a new position in shares of Modine Manufacturing Company (NYSE:MOD) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor purchased 3,000 shares of the auto parts company’s stock, valued at approximately $426,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MOD. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Modine Manufacturing by 26.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,223 shares of the auto parts company’s stock valued at $2,857,000 after purchasing an additional 7,831 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in Modine Manufacturing by 24.5% in the second quarter. Envestnet Asset Management Inc. now owns 81,545 shares of the auto parts company’s stock worth $8,032,000 after buying an additional 16,047 shares in the last quarter. Teacher Retirement System of Texas grew its position in Modine Manufacturing by 4.0% during the second quarter. Teacher Retirement System of Texas now owns 7,583 shares of the auto parts company’s stock valued at $747,000 after acquiring an additional 293 shares during the last quarter. Atria Investments Inc bought a new position in Modine Manufacturing during the second quarter valued at approximately $519,000. Finally, Parkside Financial Bank & Trust raised its stake in shares of 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 worth $42,000 after acquiring an additional 405 shares in the last quarter. 95.23% of the stock is currently owned by hedge funds and other institutional investors.

Modine Manufacturing Trading Down 8.9%

Shares of MOD opened at $186.47 on Friday. The stock has a market capitalization of $9.83 billion, a P/E ratio of 103.60, a PEG ratio of 1.25 and a beta of 1.67. Modine Manufacturing Company has a twelve month low of $64.79 and a twelve month high of $243.80. The company has a quick ratio of 1.28, a current ratio of 2.19 and a debt-to-equity ratio of 0.51. The firm has a fifty day simple moving average of $177.47 and a two-hundred day simple moving average of $157.77.

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

Insider Transactions at Modine Manufacturing

In other Modine Manufacturing news, Director Suresh V. Garimella sold 1,100 shares of the company’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $184.07, for a total transaction of $202,477.00. Following the completion of the transaction, the director owned 79,856 shares of the company’s stock, valued at $14,699,093.92. This represents a 1.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 2.48% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on MOD. Oppenheimer upped their price objective on shares of Modine Manufacturing from $220.00 to $240.00 and gave the company an “outperform” rating in a research note on Friday, February 6th. Wall Street Zen cut shares of Modine Manufacturing from a “buy” rating to a “hold” rating in a research report on Sunday, February 22nd. Zacks Research upgraded shares of Modine Manufacturing from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 30th. Roth Mkm assumed coverage on Modine Manufacturing in a research note on Wednesday, February 18th. They set a “buy” rating and a $263.00 price objective on the stock. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Modine Manufacturing in a report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $223.20.

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.