Cynosure Group LLC Buys Shares of 2,977 Modine Manufacturing (NYSE:MOD)

Cynosure Group LLC purchased a new position in shares of Modine Manufacturing (NYSE:MOD) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 2,977 shares of the auto parts company’s stock, valued at approximately $395,000.

A number of other institutional investors and hedge funds have also modified their holdings of the company. FMR LLC grew its holdings in Modine Manufacturing by 14.0% in the third quarter. FMR LLC now owns 4,417,927 shares of the auto parts company’s stock valued at $586,657,000 after purchasing an additional 543,419 shares during the last quarter. Principal Financial Group Inc. grew its stake in Modine Manufacturing by 2.4% in the 3rd quarter. Principal Financial Group Inc. now owns 1,152,735 shares of the auto parts company’s stock valued at $153,072,000 after acquiring an additional 26,527 shares during the last quarter. Driehaus Capital Management LLC increased its holdings in Modine Manufacturing by 32.8% during the 2nd quarter. Driehaus Capital Management LLC now owns 1,101,932 shares of the auto parts company’s stock valued at $110,403,000 after acquiring an additional 272,174 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Modine Manufacturing by 1.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 604,271 shares of the auto parts company’s stock worth $80,241,000 after acquiring an additional 6,871 shares during the last quarter. Finally, Loomis Sayles & Co. L P lifted its holdings in shares of Modine Manufacturing by 7.6% in the third quarter. Loomis Sayles & Co. L P now owns 411,752 shares of the auto parts company’s stock valued at $54,676,000 after purchasing an additional 29,163 shares in the last quarter. Institutional investors and hedge funds own 95.23% of the company’s stock.

Modine Manufacturing Stock Down 3.8 %

MOD stock opened at $133.51 on Thursday. The company has a 50 day moving average price of $129.43 and a two-hundred day moving average price of $113.01. 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 has a market capitalization of $7.01 billion, a P/E ratio of 43.77, a PEG ratio of 1.06 and a beta of 2.25. Modine Manufacturing has a one year low of $48.88 and a one 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 analysts’ consensus estimates of $0.92 by $0.05. Modine Manufacturing had a return on equity of 23.96% and a net margin of 6.59%. The business had revenue of $658.00 million during the quarter, compared to the consensus estimate of $646.86 million. During the same quarter in the previous year, the business earned $0.89 earnings per share. The business’s revenue for the quarter was up 6.0% on a year-over-year basis. As a group, sell-side analysts expect that Modine Manufacturing will post 3.83 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have recently weighed in on MOD. DA Davidson raised their price objective on shares of Modine Manufacturing from $140.00 to $155.00 and gave the stock a “buy” rating in a research note on Tuesday, September 24th. Oppenheimer boosted 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. Finally, B. Riley increased their price objective on Modine Manufacturing from $125.00 to $140.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average 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.