NBC Securities Inc. Acquires New Position in Modine Manufacturing (NYSE:MOD)

NBC Securities Inc. purchased a new position in shares of Modine Manufacturing (NYSE:MOD) in the 1st quarter, Holdings Channel reports. The firm purchased 4,420 shares of the auto parts company’s stock, valued at approximately $339,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. William Blair Investment Management LLC increased its position in shares of Modine Manufacturing by 7.7% in the fourth quarter. William Blair Investment Management LLC now owns 247,400 shares of the auto parts company’s stock worth $28,681,000 after acquiring an additional 17,599 shares in the last quarter. Entropy Technologies LP bought a new position in Modine Manufacturing during the 4th quarter valued at $452,000. New York State Common Retirement Fund boosted its stake in Modine Manufacturing by 9.9% during the 4th quarter. New York State Common Retirement Fund now owns 247,975 shares of the auto parts company’s stock valued at $28,748,000 after acquiring an additional 22,259 shares during the last quarter. Peregrine Capital Management LLC lifted its position in shares of Modine Manufacturing by 10.9% in the 4th quarter. Peregrine Capital Management LLC now owns 100,949 shares of the auto parts company’s stock worth $11,703,000 after buying an additional 9,920 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of Modine Manufacturing in the 4th quarter worth about $19,719,000. Institutional investors and hedge funds own 95.23% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on MOD. Wall Street Zen upgraded shares of Modine Manufacturing from a “hold” rating to a “buy” rating in a research report on Saturday. Oppenheimer raised their target price on shares of Modine Manufacturing from $114.00 to $121.00 and gave the company an “outperform” rating in a research note on Thursday, May 22nd. Finally, DA Davidson reaffirmed a “buy” rating and issued a $155.00 price objective on shares of Modine Manufacturing in a research note on Monday, March 17th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $138.67.

Modine Manufacturing Stock Performance

Shares of MOD opened at $93.55 on Friday. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.87 and a quick ratio of 1.18. The stock has a market cap of $4.90 billion, a price-to-earnings ratio of 31.39, a PEG ratio of 0.71 and a beta of 2.06. The company has a 50-day moving average of $86.47 and a two-hundred day moving average of $101.16. Modine Manufacturing has a one year low of $64.79 and a one year high of $146.84.

Modine Manufacturing (NYSE:MOD) last posted its quarterly earnings results on Tuesday, May 20th. The auto parts company reported $1.12 EPS for the quarter, topping the consensus estimate of $0.96 by $0.16. The business had revenue of $647.20 million during the quarter, compared to analysts’ expectations of $633.13 million. Modine Manufacturing had a net margin of 6.31% and a return on equity of 24.25%. The firm’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same period last year, the company posted $0.77 earnings per share. On average, equities research analysts expect that Modine Manufacturing will post 3.88 earnings per share for the current year.

Modine Manufacturing declared that its Board of Directors has authorized a stock repurchase plan on Friday, March 7th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the auto parts company to buy up to 2.4% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its shares are undervalued.

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.