Eagle Asset Management Inc. Buys Shares of 73,202 Modine Manufacturing (NYSE:MOD)

Eagle Asset Management Inc. purchased a new position in shares of Modine Manufacturing (NYSE:MOD) in the third quarter, Holdings Channel.com reports. The institutional investor purchased 73,202 shares of the auto parts company’s stock, valued at approximately $9,379,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in MOD. SG Americas Securities LLC grew its holdings in Modine Manufacturing by 311.1% during the 2nd 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 in the last quarter. Farther Finance Advisors LLC grew its stake in 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 worth $137,000 after purchasing an additional 491 shares in the last quarter. Harbor Capital Advisors Inc. increased its holdings in Modine Manufacturing by 58.0% in the third quarter. Harbor Capital Advisors Inc. now owns 69,839 shares of the auto parts company’s stock valued at $9,274,000 after buying an additional 25,648 shares during the last quarter. Fred Alger Management LLC raised its stake in Modine Manufacturing by 5.1% during the second quarter. Fred Alger Management LLC now owns 369,840 shares of the auto parts company’s stock valued at $37,054,000 after buying an additional 17,889 shares in the last quarter. Finally, Raymond James & Associates lifted its holdings in Modine Manufacturing by 15.8% during the 3rd quarter. Raymond James & Associates now owns 30,812 shares of the auto parts company’s stock worth $4,092,000 after buying an additional 4,206 shares during the last quarter. Institutional investors own 95.23% of the company’s stock.

Modine Manufacturing Stock Performance

MOD stock opened at $143.22 on Friday. Modine Manufacturing has a 1 year low of $48.88 and a 1 year high of $144.02. The stock has a market capitalization of $7.52 billion, a price-to-earnings ratio of 46.96, a PEG ratio of 1.08 and a beta of 2.25. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.09 and a current ratio of 1.77. The stock’s fifty day moving average is $128.14 and its two-hundred day moving average is $112.35.

Modine Manufacturing (NYSE:MOD) last issued its quarterly earnings data on Tuesday, October 29th. The auto parts company reported $0.97 earnings per share 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 the consensus estimate of $646.86 million. Modine Manufacturing had a net margin of 6.59% and a return on equity of 23.96%. Modine Manufacturing’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same period last year, the firm posted $0.89 EPS. On average, research analysts predict that Modine Manufacturing will post 3.83 EPS for the current year.

Analyst Ratings Changes

MOD has been the subject of a number of research analyst reports. DA Davidson boosted their price target on Modine Manufacturing from $140.00 to $155.00 and gave the company a “buy” rating in a report on Tuesday, September 24th. Oppenheimer increased their target price on shares of Modine Manufacturing from $144.00 to $145.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. B. Riley lifted their price target on shares of Modine Manufacturing from $125.00 to $140.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Finally, William Blair began coverage on shares of Modine Manufacturing in a research note on Monday, July 29th. They set an “outperform” rating on the stock. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $146.67.

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.