PDT Partners LLC Acquires Shares of 16,100 Modine Manufacturing (NYSE:MOD)

PDT Partners LLC bought a new position in shares of Modine Manufacturing (NYSE:MOD) during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 16,100 shares of the auto parts company’s stock, valued at approximately $2,138,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. FMR LLC grew its position in Modine Manufacturing by 14.0% during the third quarter. FMR LLC now owns 4,417,927 shares of the auto parts company’s stock worth $586,657,000 after buying an additional 543,419 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of Modine Manufacturing by 2.4% during the 3rd quarter. Principal Financial Group Inc. now owns 1,152,735 shares of the auto parts company’s stock worth $153,072,000 after purchasing an additional 26,527 shares in the last quarter. Driehaus Capital Management LLC increased its position in shares of Modine Manufacturing by 32.8% in the second quarter. Driehaus Capital Management LLC now owns 1,101,932 shares of the auto parts company’s stock worth $110,403,000 after purchasing an additional 272,174 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Modine Manufacturing by 1.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 604,271 shares of the auto parts company’s stock valued at $80,241,000 after purchasing an additional 6,871 shares in the last quarter. Finally, Loomis Sayles & Co. L P lifted its position in Modine Manufacturing by 7.6% during the third quarter. Loomis Sayles & Co. L P now owns 411,752 shares of the auto parts company’s stock worth $54,676,000 after purchasing an additional 29,163 shares during the period. 95.23% of the stock is currently owned by institutional investors and hedge funds.

Modine Manufacturing Stock Up 1.8 %

Shares of NYSE MOD opened at $135.79 on Friday. The company has a market cap of $7.13 billion, a price-to-earnings ratio of 44.52, a PEG ratio of 1.04 and a beta of 2.25. The company has a current ratio of 1.77, a quick ratio of 1.09 and a debt-to-equity ratio of 0.41. Modine Manufacturing has a 12 month low of $48.88 and a 12 month high of $146.84. The stock has a 50-day moving average price of $129.70 and a two-hundred day moving average price of $113.45.

Modine Manufacturing (NYSE:MOD) last issued 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 business had revenue of $658.00 million during the quarter, compared to the consensus estimate of $646.86 million. Modine Manufacturing had a net margin of 6.59% and a return on equity of 23.96%. The firm’s revenue was up 6.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.89 EPS. As a group, analysts forecast that Modine Manufacturing will post 3.83 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have commented on MOD. Oppenheimer raised their target price 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. DA Davidson lifted their price objective on shares of Modine Manufacturing from $140.00 to $155.00 and gave the company a “buy” rating in a research note on Tuesday, September 24th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $146.67.

Modine Manufacturing Company 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.