Platinum Investment Management Ltd. Takes Position in Modine Manufacturing Company $MOD

Platinum Investment Management Ltd. purchased a new stake in Modine Manufacturing Company (NYSE:MOD) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 17,455 shares of the auto parts company’s stock, valued at approximately $2,330,000.

Other institutional investors also recently modified their holdings of the company. Spire Wealth Management bought a new stake in shares of Modine Manufacturing in the fourth quarter valued at about $27,000. Sunbelt Securities Inc. bought a new stake in Modine Manufacturing during the third quarter worth about $39,000. Danske Bank A S bought a new stake in Modine Manufacturing during the third quarter worth about $43,000. Root Financial Partners LLC raised its holdings in Modine Manufacturing by 140.5% during the fourth quarter. Root Financial Partners LLC now owns 368 shares of the auto parts company’s stock worth $49,000 after acquiring an additional 215 shares in the last quarter. Finally, Maseco LLP bought a new stake in Modine Manufacturing during the fourth quarter worth about $69,000. 95.23% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on the company. KeyCorp upped their target price on Modine Manufacturing from $250.00 to $370.00 and gave the stock an “overweight” rating in a report on Wednesday, May 27th. Oppenheimer upped their target price on Modine Manufacturing from $271.00 to $325.00 and gave the stock an “outperform” rating in a report on Thursday, May 28th. UBS Group upped their target price on Modine Manufacturing to $310.00 and gave the stock a “buy” rating in a report on Wednesday, May 27th. B. Riley Financial upped their target price on Modine Manufacturing from $250.00 to $264.00 and gave the stock a “buy” rating in a report on Tuesday, May 26th. Finally, Glj Research reiterated a “buy” rating and set a $428.00 target price on shares of Modine Manufacturing in a report on Monday, June 1st. Seven equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $327.14.

Modine Manufacturing Trading Up 0.6%

Shares of NYSE:MOD opened at $273.16 on Friday. The company has a market capitalization of $14.43 billion, a P/E ratio of 121.95, a P/E/G ratio of 0.88 and a beta of 1.65. Modine Manufacturing Company has a 1 year low of $86.48 and a 1 year high of $323.25. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.94 and a quick ratio of 1.25. The business’s 50 day simple moving average is $260.23 and its 200 day simple moving average is $205.14.

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

Modine Manufacturing 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.