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

Paloma Partners Management Co acquired a new stake in Modine Manufacturing (NYSE:MOD) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 6,162 shares of the auto parts company’s stock, valued at approximately $818,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. SG Americas Securities LLC lifted its stake 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 valued at $3,219,000 after buying an additional 24,312 shares during the period. Farther Finance Advisors LLC lifted its position in shares of Modine Manufacturing by 90.9% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,031 shares of the auto parts company’s stock valued at $137,000 after acquiring an additional 491 shares during the period. Harbor Capital Advisors Inc. boosted its stake in Modine Manufacturing by 58.0% during the third quarter. Harbor Capital Advisors Inc. now owns 69,839 shares of the auto parts company’s stock worth $9,274,000 after acquiring an additional 25,648 shares in the last quarter. Fred Alger Management LLC grew its holdings in Modine Manufacturing by 5.1% in the second quarter. Fred Alger Management LLC now owns 369,840 shares of the auto parts company’s stock worth $37,054,000 after purchasing an additional 17,889 shares during the period. Finally, Raymond James & Associates increased its stake in Modine Manufacturing by 15.8% in the third quarter. Raymond James & Associates now owns 30,812 shares of the auto parts company’s stock valued at $4,092,000 after purchasing an additional 4,206 shares in the last quarter. Institutional investors own 95.23% of the company’s stock.

Modine Manufacturing Stock Up 1.4 %

Shares of NYSE MOD opened at $137.74 on Tuesday. 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 50-day moving average price of $129.91 and a 200-day moving average price of $113.71. The stock has a market capitalization of $7.23 billion, a P/E ratio of 45.16, a P/E/G ratio of 1.04 and a beta of 2.31. Modine Manufacturing has a 1 year low of $50.59 and a 1 year high of $146.84.

Modine Manufacturing (NYSE:MOD) last released its quarterly 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 during the quarter, compared to the consensus estimate of $646.86 million. Modine Manufacturing had a return on equity of 23.96% and a net margin of 6.59%. The company’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.89 EPS. On average, equities research analysts forecast that Modine Manufacturing will post 3.83 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. DA Davidson increased their price objective on shares of Modine Manufacturing from $140.00 to $155.00 and gave the stock a “buy” rating in a research report on Tuesday, September 24th. Oppenheimer increased their price target on Modine Manufacturing from $144.00 to $145.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target 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.