Truvestments Capital LLC Purchases 626 Shares of Modine Manufacturing (NYSE:MOD)

Truvestments Capital LLC increased its holdings in shares of Modine Manufacturing (NYSE:MOD) by 9.9% in the 3rd quarter, Holdings Channel.com reports. The firm owned 6,963 shares of the auto parts company’s stock after acquiring an additional 626 shares during the quarter. Truvestments Capital LLC’s holdings in Modine Manufacturing were worth $925,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Modine Manufacturing by 27.3% during the first quarter. Vanguard Group Inc. now owns 3,909,016 shares of the auto parts company’s stock worth $372,099,000 after buying an additional 838,460 shares during the last quarter. Acadian Asset Management LLC acquired a new stake in Modine Manufacturing in the 1st quarter worth $37,000. Price T Rowe Associates Inc. MD increased its holdings in shares of Modine Manufacturing by 5.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 38,383 shares of the auto parts company’s stock worth $3,654,000 after purchasing an additional 1,901 shares during the period. Castleark Management LLC raised its position in shares of Modine Manufacturing by 4.8% during the first quarter. Castleark Management LLC now owns 69,580 shares of the auto parts company’s stock valued at $6,623,000 after buying an additional 3,170 shares during the last quarter. Finally, Virtu Financial LLC bought a new stake in shares of Modine Manufacturing in the first quarter valued at about $1,739,000. Institutional investors own 95.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on MOD. William Blair began coverage on Modine Manufacturing in a report on Monday, July 29th. They issued an “outperform” rating for the company. B. Riley upped their target price on Modine Manufacturing from $125.00 to $140.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. DA Davidson lifted their price target on shares of Modine Manufacturing from $140.00 to $155.00 and gave the stock a “buy” rating in a research note on Tuesday, September 24th. Finally, Oppenheimer boosted their price target on shares of Modine Manufacturing from $144.00 to $145.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $146.67.

Modine Manufacturing Trading Up 2.6 %

MOD stock opened at $147.00 on Monday. The company has a current ratio of 1.77, a quick ratio of 1.09 and a debt-to-equity ratio of 0.41. The firm has a market cap of $7.72 billion, a P/E ratio of 46.96, a P/E/G ratio of 1.10 and a beta of 2.25. Modine Manufacturing has a 1-year low of $48.88 and a 1-year high of $147.00. The business’s 50 day moving average is $128.14 and its 200-day moving average is $112.40.

Modine Manufacturing (NYSE:MOD) last announced its quarterly earnings results on Tuesday, October 29th. The auto parts company reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.92 by $0.05. The firm had revenue of $658.00 million for the quarter, compared to analysts’ expectations of $646.86 million. Modine Manufacturing had a return on equity of 23.96% and a net margin of 6.59%. The business’s revenue was up 6.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.89 earnings per share. Equities analysts anticipate that Modine Manufacturing will post 3.83 earnings per share for the current fiscal year.

About Modine Manufacturing

Modine Manufacturing Company provides thermal management products and solutions in the United States, Italy, Hungary, China, the United Kingdom, and internationally. It operates through Climate Solutions and Performance Technologies segments. The company offers heat transfer coils, including heat recovery and round tube plate fin coils; gas-fired, hydronic, electric and oilfired unit heaters; roof-mounted direct- and indirect-fired makeup air units; duct furnaces; infrared units; perimeter heating products; single packaged unit ventilators; modular chillers; air handler and condensing units; ceiling cassettes; evaporator unit coolers, remote condensers, fluid coolers, gas coolers, and dry and brine coolers; and motor and generator cooling coils, transformer oil coolers, radiators, dryers, and industrial heat exchangers.