Paloma Partners Management Co Makes New Investment in Modine Manufacturing (NYSE:MOD)

Paloma Partners Management Co bought a new position in shares of Modine Manufacturing (NYSE:MOD) during the 3rd quarter, HoldingsChannel.com reports. The fund bought 6,162 shares of the auto parts company’s stock, valued at approximately $818,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Price T Rowe Associates Inc. MD lifted its holdings in Modine Manufacturing by 5.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 38,383 shares of the auto parts company’s stock worth $3,654,000 after acquiring an additional 1,901 shares during the period. Cetera Investment Advisers purchased a new position in shares of Modine Manufacturing in the 1st quarter worth about $1,847,000. Mountain Pacific Investment Advisers LLC grew its position in Modine Manufacturing by 25.0% during the second quarter. Mountain Pacific Investment Advisers LLC now owns 25,000 shares of the auto parts company’s stock valued at $2,505,000 after buying an additional 5,000 shares during the period. Opal Wealth Advisors LLC purchased a new stake in Modine Manufacturing during the second quarter worth about $51,000. Finally, SG Americas Securities LLC raised its position in Modine Manufacturing by 311.1% in the second quarter. SG Americas Securities LLC now owns 32,128 shares of the auto parts company’s stock worth $3,219,000 after acquiring an additional 24,312 shares during the period. Hedge funds and other institutional investors own 95.23% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on MOD shares. DA Davidson increased their target price on shares of Modine Manufacturing from $140.00 to $155.00 and gave the company a “buy” rating in a research report on Tuesday, September 24th. Oppenheimer increased their price objective on 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. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $146.67.

Modine Manufacturing Price Performance

MOD opened at $137.74 on Tuesday. The company has a market capitalization of $7.23 billion, a price-to-earnings ratio of 45.16, a PEG ratio of 1.04 and a beta of 2.31. The company has a quick ratio of 1.09, a current ratio of 1.77 and a debt-to-equity ratio of 0.41. The firm has a 50-day moving average price of $129.91 and a 200-day moving average price of $113.71. Modine Manufacturing has a twelve month low of $50.59 and a twelve month high of $146.84.

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

Modine Manufacturing Profile

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.