Geode Capital Management LLC Increases Holdings in Modine Manufacturing Company $MOD

Geode Capital Management LLC grew its holdings in shares of Modine Manufacturing Company (NYSE:MOD) by 0.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,221,688 shares of the auto parts company’s stock after purchasing an additional 1,782 shares during the quarter. Geode Capital Management LLC’s holdings in Modine Manufacturing were worth $163,135,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Perigon Wealth Management LLC increased its position in shares of Modine Manufacturing by 583.1% during the 4th quarter. Perigon Wealth Management LLC now owns 15,171 shares of the auto parts company’s stock valued at $2,025,000 after purchasing an additional 12,950 shares during the last quarter. Wisconsin Capital Management LLC increased its holdings in Modine Manufacturing by 227.9% in the 3rd quarter. Wisconsin Capital Management LLC now owns 23,071 shares of the auto parts company’s stock worth $3,280,000 after acquiring an additional 16,034 shares during the last quarter. Congress Asset Management Co. increased its holdings in Modine Manufacturing by 7.8% in the 4th quarter. Congress Asset Management Co. now owns 568,853 shares of the auto parts company’s stock worth $75,948,000 after acquiring an additional 41,373 shares during the last quarter. Oppenheimer Asset Management Inc. increased its holdings in Modine Manufacturing by 12.4% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 48,189 shares of the auto parts company’s stock worth $6,851,000 after acquiring an additional 5,319 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in Modine Manufacturing by 14.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,171,497 shares of the auto parts company’s stock worth $166,540,000 after acquiring an additional 151,543 shares during the last quarter. 95.23% of the stock is owned by hedge funds and other institutional investors.

Modine Manufacturing Stock Down 1.9%

Shares of NYSE MOD opened at $301.00 on Thursday. Modine Manufacturing Company has a 52 week low of $86.48 and a 52 week high of $323.25. The business has a 50-day simple moving average of $252.19 and a two-hundred day simple moving average of $198.70. The company has a quick ratio of 1.25, a current ratio of 1.94 and a debt-to-equity ratio of 0.32. The company has a market cap of $15.90 billion, a P/E ratio of 134.38, a P/E/G ratio of 0.99 and a beta of 1.65.

Modine Manufacturing (NYSE:MOD) last issued its earnings results on Tuesday, May 26th. The auto parts company reported $1.71 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 during the quarter, compared to the consensus estimate of $920.67 million. During the same quarter last year, the company earned $1.12 EPS. The firm’s revenue was up 47.5% compared to the same quarter last year. Research analysts anticipate that Modine Manufacturing Company will post 7.73 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. DA Davidson lifted their price objective on Modine Manufacturing from $265.00 to $330.00 and gave the stock a “buy” rating in a report on Friday, May 29th. Oppenheimer lifted their price objective on Modine Manufacturing from $271.00 to $325.00 and gave the stock an “outperform” rating in a report on Thursday, May 28th. Zacks Research lowered Modine Manufacturing from a “strong-buy” rating to a “hold” rating in a report on Monday, April 13th. Weiss Ratings raised Modine Manufacturing from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, May 28th. Finally, Roth Mkm assumed coverage on Modine Manufacturing in a report on Wednesday, February 18th. They issued a “buy” rating and a $263.00 price objective for the company. Seven investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $327.14.

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.