Nicholas Investment Partners LP Grows Holdings in Modine Manufacturing Company $MOD

Nicholas Investment Partners LP grew its holdings in shares of Modine Manufacturing Company (NYSE:MOD) by 5.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 70,057 shares of the auto parts company’s stock after buying an additional 3,873 shares during the quarter. Nicholas Investment Partners LP owned 0.13% of Modine Manufacturing worth $9,353,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Spire Wealth Management purchased a new position in shares of Modine Manufacturing during the 4th quarter valued at approximately $27,000. Sunbelt Securities Inc. purchased a new position in shares of Modine Manufacturing during the 3rd quarter valued at approximately $39,000. Danske Bank A S purchased a new position in shares of Modine Manufacturing during the 3rd quarter valued at approximately $43,000. Root Financial Partners LLC boosted its stake in shares of Modine Manufacturing by 140.5% during the 4th quarter. Root Financial Partners LLC now owns 368 shares of the auto parts company’s stock valued at $49,000 after buying an additional 215 shares during the last quarter. Finally, Smartleaf Asset Management LLC boosted its stake in shares of Modine Manufacturing by 58.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 439 shares of the auto parts company’s stock valued at $59,000 after buying an additional 162 shares during the last quarter. 95.23% of the stock is currently owned by hedge funds and other institutional investors.

Modine Manufacturing Stock Performance

MOD stock opened at $273.16 on Friday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.25 and a current ratio of 1.94. The stock has a market capitalization of $14.43 billion, a price-to-earnings ratio of 121.95, a PEG ratio of 0.89 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 stock’s fifty day moving average is $260.23 and its two-hundred day moving average is $205.14.

Modine Manufacturing (NYSE:MOD) last posted its earnings results on Tuesday, May 26th. The auto parts company reported $1.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.51 by $0.20. The company had revenue of $954.40 million for the quarter, compared to analysts’ expectations 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 period last year, the business posted $1.12 earnings per share. On average, research analysts predict that Modine Manufacturing Company will post 7.73 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on MOD shares. Oppenheimer increased their target price on Modine Manufacturing from $271.00 to $325.00 and gave the company an “outperform” rating in a research note on Thursday, May 28th. DA Davidson raised their price objective on Modine Manufacturing from $265.00 to $330.00 and gave the stock a “buy” rating in a research note on Friday, May 29th. Roth Mkm initiated coverage on Modine Manufacturing in a research note on Wednesday, February 18th. They set a “buy” rating and a $263.00 price objective on the stock. UBS Group raised their price objective on Modine Manufacturing to $310.00 and gave the stock a “buy” rating in a research note on Wednesday, May 27th. Finally, Wall Street Zen upgraded Modine Manufacturing from a “hold” rating to a “buy” rating in a research note on Saturday, May 30th. Seven analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target 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.