Leonteq Securities AG Takes Position in Modine Manufacturing Company $MOD

Leonteq Securities AG bought a new stake in shares of Modine Manufacturing Company (NYSE:MOD) in the fourth quarter, HoldingsChannel reports. The institutional investor bought 3,800 shares of the auto parts company’s stock, valued at approximately $507,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Perigon Wealth Management LLC increased its holdings in Modine Manufacturing by 583.1% during the fourth quarter. Perigon Wealth Management LLC now owns 15,171 shares of the auto parts company’s stock valued at $2,025,000 after buying an additional 12,950 shares during the last quarter. Principal Financial Group Inc. increased its holdings in Modine Manufacturing by 0.9% during the third quarter. Principal Financial Group Inc. now owns 749,845 shares of the auto parts company’s stock valued at $106,598,000 after buying an additional 6,847 shares during the last quarter. Wisconsin Capital Management LLC increased its holdings in Modine Manufacturing by 227.9% during the third quarter. Wisconsin Capital Management LLC now owns 23,071 shares of the auto parts company’s stock valued at $3,280,000 after buying an additional 16,034 shares during the last quarter. Y Intercept Hong Kong Ltd increased its holdings in Modine Manufacturing by 390.6% during the third quarter. Y Intercept Hong Kong Ltd now owns 16,861 shares of the auto parts company’s stock valued at $2,397,000 after buying an additional 13,424 shares during the last quarter. Finally, Congress Asset Management Co. increased its holdings in Modine Manufacturing by 7.8% during the fourth quarter. Congress Asset Management Co. now owns 568,853 shares of the auto parts company’s stock valued at $75,948,000 after buying an additional 41,373 shares during the last quarter. 95.23% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have commented on MOD. Roth Mkm began coverage on shares of Modine Manufacturing in a report on Wednesday, February 18th. They set a “buy” rating and a $263.00 target price for the company. Oppenheimer upped their price target on shares of Modine Manufacturing from $220.00 to $240.00 and gave the stock an “outperform” rating in a research report on Friday, February 6th. DA Davidson reiterated a “buy” rating and issued a $265.00 price target on shares of Modine Manufacturing in a research report on Tuesday, March 31st. Wall Street Zen lowered shares of Modine Manufacturing from a “buy” rating to a “hold” rating in a research report on Sunday, February 22nd. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Modine Manufacturing in a research report on Wednesday, May 6th. Six investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Modine Manufacturing has a consensus rating of “Moderate Buy” and an average target price of $234.33.

Modine Manufacturing Stock Performance

MOD opened at $261.71 on Friday. The firm has a market cap of $13.80 billion, a P/E ratio of 145.39, a PEG ratio of 1.02 and a beta of 1.66. Modine Manufacturing Company has a 1-year low of $86.48 and a 1-year high of $294.05. The company has a 50 day simple moving average of $238.14 and a two-hundred day simple moving average of $190.70. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.19 and a quick ratio of 1.28.

About Modine Manufacturing

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.