Virtu Financial LLC Makes New Investment in Modine Manufacturing (NYSE:MOD)

Virtu Financial LLC bought a new position in shares of Modine Manufacturing (NYSE:MOD) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 18,269 shares of the auto parts company’s stock, valued at approximately $1,739,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in MOD. Vanguard Group Inc. raised its stake in shares of Modine Manufacturing by 27.3% in the 1st quarter. Vanguard Group Inc. now owns 3,909,016 shares of the auto parts company’s stock valued at $372,099,000 after purchasing an additional 838,460 shares during the period. Hennessy Advisors Inc. acquired a new stake in shares of Modine Manufacturing in the 4th quarter valued at about $35,414,000. Capital International Investors raised its stake in shares of Modine Manufacturing by 40.6% in the 1st quarter. Capital International Investors now owns 1,425,845 shares of the auto parts company’s stock valued at $135,726,000 after purchasing an additional 411,946 shares during the period. Axiom Investors LLC DE raised its stake in shares of Modine Manufacturing by 286.0% in the 4th quarter. Axiom Investors LLC DE now owns 281,690 shares of the auto parts company’s stock valued at $16,817,000 after purchasing an additional 208,715 shares during the period. Finally, Capital World Investors acquired a new stake in shares of Modine Manufacturing in the 4th quarter valued at about $11,623,000. 95.23% of the stock is currently owned by institutional investors.

Modine Manufacturing Stock Performance

Modine Manufacturing stock traded down $13.08 during midday trading on Friday, reaching $98.78. 1,611,773 shares of the company’s stock were exchanged, compared to its average volume of 950,541. Modine Manufacturing has a 52 week low of $38.50 and a 52 week high of $123.92. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.98 and a current ratio of 1.64. The firm has a market cap of $5.18 billion, a price-to-earnings ratio of 33.85, a P/E/G ratio of 0.93 and a beta of 2.27. The stock’s 50-day simple moving average is $101.82 and its 200 day simple moving average is $91.95.

Modine Manufacturing (NYSE:MOD) last posted its quarterly earnings results on Tuesday, July 30th. The auto parts company reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $0.86 by $0.18. Modine Manufacturing had a return on equity of 25.57% and a net margin of 6.70%. The business had revenue of $661.50 million during the quarter, compared to analysts’ expectations of $633.55 million. During the same quarter last year, the company posted $0.85 earnings per share. Modine Manufacturing’s quarterly revenue was up 6.3% on a year-over-year basis. On average, analysts expect that Modine Manufacturing will post 3.74 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently issued reports on MOD. Oppenheimer lifted their target price on Modine Manufacturing from $114.00 to $135.00 and gave the company an “outperform” rating in a research report on Thursday. DA Davidson lifted their target price on Modine Manufacturing from $120.00 to $140.00 and gave the company a “buy” rating in a research report on Thursday. B. Riley lifted their target price on Modine Manufacturing from $125.00 to $140.00 and gave the company a “buy” rating in a research report on Thursday. Finally, William Blair began coverage on Modine Manufacturing in a research report on Monday. They issued an “outperform” rating on the stock. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $138.33.

Modine Manufacturing Company Profile

Modine Manufacturing Company provides engineered heat transfer systems and heat transfer components for use in on- and off-highway original equipment manufacturer (OEM) vehicular applications. It operates through Climate Solutions and Performance Technologies segments. The company offers gas-fired, hydronic, electric, and oil-fired unit heaters; indoor and outdoor duct furnaces; infrared units; perimeter heating products, such as commercial fin-tube radiation, cabinet unit heaters, and convectors; roof-mounted direct- and indirect-fired makeup air units; unit ventilators; single packaged vertical units; precision air conditioning units for data center applications; air handler units; fan walls; chillers; ceiling cassettes; hybrid fan coils; and condensers and condensing units.