Legend Financial Advisors Inc. Boosts Stock Position in Modine Manufacturing (NYSE:MOD)

Legend Financial Advisors Inc. increased its stake in Modine Manufacturing (NYSE:MOD) by 2.9% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 9,929 shares of the auto parts company’s stock after buying an additional 279 shares during the quarter. Modine Manufacturing accounts for approximately 0.8% of Legend Financial Advisors Inc.’s portfolio, making the stock its 19th largest holding. Legend Financial Advisors Inc.’s holdings in Modine Manufacturing were worth $1,151,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. DekaBank Deutsche Girozentrale purchased a new stake in Modine Manufacturing in the 2nd quarter worth about $68,000. Private Trust Co. NA increased its stake in shares of Modine Manufacturing by 650.5% in the third quarter. Private Trust Co. NA now owns 773 shares of the auto parts company’s stock worth $103,000 after purchasing an additional 670 shares in the last quarter. Farther Finance Advisors LLC raised its position in shares of Modine Manufacturing by 90.9% in the third quarter. Farther Finance Advisors LLC now owns 1,031 shares of the auto parts company’s stock valued at $137,000 after purchasing an additional 491 shares during the period. KBC Group NV lifted its stake in shares of Modine Manufacturing by 47.8% during the 3rd quarter. KBC Group NV now owns 1,456 shares of the auto parts company’s stock valued at $193,000 after buying an additional 471 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd bought a new position in Modine Manufacturing in the 3rd quarter worth approximately $196,000. Institutional investors own 95.23% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the company. DA Davidson raised their target price on Modine Manufacturing from $140.00 to $155.00 and gave the stock a “buy” rating in a research note on Tuesday, September 24th. Oppenheimer raised their price objective on shares of Modine Manufacturing from $144.00 to $145.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $146.67.

Modine Manufacturing Price Performance

MOD stock traded down $1.10 during midday trading on Tuesday, reaching $121.68. The company had a trading volume of 655,836 shares, compared to its average volume of 615,250. The firm has a 50-day moving average price of $126.77 and a 200-day moving average price of $118.65. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.77 and a quick ratio of 1.09. The company has a market capitalization of $6.39 billion, a P/E ratio of 39.90, a P/E/G ratio of 1.01 and a beta of 2.34. Modine Manufacturing has a 1 year low of $58.78 and a 1 year high of $146.84.

Modine Manufacturing (NYSE:MOD) last announced its quarterly earnings data on Tuesday, October 29th. The auto parts company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.92 by $0.05. The firm had revenue of $658.00 million for the quarter, compared to analyst estimates of $646.86 million. Modine Manufacturing had a return on equity of 23.96% and a net margin of 6.59%. The company’s revenue was up 6.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.89 EPS. On average, research 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.