100,000 Shares in Modine Manufacturing Company $MOD Acquired by Telemark Asset Management LLC

Telemark Asset Management LLC acquired a new position in shares of Modine Manufacturing Company (NYSE:MOD) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 100,000 shares of the auto parts company’s stock, valued at approximately $13,351,000. Modine Manufacturing makes up 1.3% of Telemark Asset Management LLC’s portfolio, making the stock its 26th biggest position. Telemark Asset Management LLC owned about 0.19% of Modine Manufacturing as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. State of Wyoming raised its stake in shares of Modine Manufacturing by 24.0% during the 4th quarter. State of Wyoming now owns 1,728 shares of the auto parts company’s stock worth $231,000 after acquiring an additional 335 shares in the last quarter. Cibc World Market Inc. purchased a new position in shares of Modine Manufacturing in the 4th quarter valued at approximately $354,000. Root Financial Partners LLC raised its position in shares of Modine Manufacturing by 140.5% in the 4th quarter. Root Financial Partners LLC now owns 368 shares of the auto parts company’s stock valued at $49,000 after purchasing an additional 215 shares during the last quarter. Arcadia Investment Management Corp MI raised its position in shares of Modine Manufacturing by 394.3% in the 4th quarter. Arcadia Investment Management Corp MI now owns 8,353 shares of the auto parts company’s stock valued at $1,115,000 after purchasing an additional 6,663 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its position in shares of Modine Manufacturing by 2,964.8% in the 4th quarter. BNP Paribas Financial Markets now owns 332,072 shares of the auto parts company’s stock valued at $44,335,000 after purchasing an additional 321,237 shares during the last quarter. Institutional investors own 95.23% of the company’s stock.

Modine Manufacturing Trading Down 8.4%

Modine Manufacturing stock opened at $275.95 on Friday. The company has a current ratio of 1.94, a quick ratio of 1.25 and a debt-to-equity ratio of 0.32. Modine Manufacturing Company has a 12 month low of $86.48 and a 12 month high of $323.25. The stock’s 50 day simple moving average is $254.49 and its two-hundred day simple moving average is $200.42. The firm has a market cap of $14.58 billion, a PE ratio of 123.19, a P/E/G ratio of 0.89 and a beta of 1.65.

Modine Manufacturing (NYSE:MOD) last released its quarterly earnings data on Tuesday, May 26th. The auto parts company reported $1.71 EPS for the quarter, topping the consensus estimate of $1.51 by $0.20. Modine Manufacturing had a return on equity of 24.39% and a net margin of 3.82%.The business had revenue of $954.40 million for the quarter, compared to analyst estimates of $920.67 million. During the same quarter in the prior year, the firm posted $1.12 EPS. The business’s quarterly revenue was up 47.5% compared to the same quarter last year. Analysts anticipate that Modine Manufacturing Company will post 7.73 earnings per share for the current year.

Analysts Set New Price Targets

MOD has been the subject of several research analyst reports. UBS Group increased their price objective on shares of Modine Manufacturing to $310.00 and gave the company a “buy” rating in a research report on Wednesday, May 27th. Glj Research reaffirmed a “buy” rating and issued a $428.00 price objective on shares of Modine Manufacturing in a research report on Monday, June 1st. DA Davidson increased their price objective on shares of Modine Manufacturing from $265.00 to $330.00 and gave the company a “buy” rating in a research report on Friday, May 29th. Oppenheimer increased their price objective on shares of Modine Manufacturing from $271.00 to $325.00 and gave the company an “outperform” rating in a research report on Thursday, May 28th. Finally, Wall Street Zen raised shares of Modine Manufacturing from a “hold” rating to a “buy” rating in a research report on Saturday, May 30th. Seven equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $327.14.

Modine Manufacturing Company Profile

Modine Manufacturing Company (NYSE:MOD) is a global provider of thermal management solutions serving automotive, commercial transportation, heavy-duty off-highway, industrial, HVAC and refrigeration markets. The company designs, manufactures, tests and markets a broad array of heat-transfer products that manage temperature and energy efficiency for engines, power electronics and building climate control systems.

Its product portfolio includes heat exchangers, condensers, radiators, evaporators, charge air coolers, fan systems and associated controls.