Nicholas Investment Partners LP Has $8.23 Million Stock Position in Modine Manufacturing (NYSE:MOD)

Nicholas Investment Partners LP boosted its holdings in shares of Modine Manufacturing (NYSE:MOD) by 1.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 82,092 shares of the auto parts company’s stock after buying an additional 787 shares during the quarter. Nicholas Investment Partners LP owned approximately 0.16% of Modine Manufacturing worth $8,225,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of MOD. Banque Cantonale Vaudoise lifted its stake in shares of Modine Manufacturing by 9.8% during the 2nd quarter. Banque Cantonale Vaudoise now owns 1,165 shares of the auto parts company’s stock worth $117,000 after buying an additional 104 shares during the last quarter. Riverwater Partners LLC lifted its position in Modine Manufacturing by 0.6% during the first quarter. Riverwater Partners LLC now owns 23,633 shares of the auto parts company’s stock worth $2,250,000 after acquiring an additional 152 shares during the last quarter. SummerHaven Investment Management LLC boosted its holdings in shares of Modine Manufacturing by 0.7% during the second quarter. SummerHaven Investment Management LLC now owns 21,194 shares of the auto parts company’s stock worth $2,123,000 after acquiring an additional 155 shares during the period. Horizon Investment Services LLC grew its position in shares of Modine Manufacturing by 4.4% in the first quarter. Horizon Investment Services LLC now owns 4,558 shares of the auto parts company’s stock valued at $434,000 after purchasing an additional 191 shares during the last quarter. Finally, Ameritas Advisory Services LLC grew its position in shares of Modine Manufacturing by 2.9% in the second quarter. Ameritas Advisory Services LLC now owns 7,000 shares of the auto parts company’s stock valued at $701,000 after purchasing an additional 200 shares during the last quarter. Institutional investors and hedge funds own 95.23% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. B. Riley boosted their price target on Modine Manufacturing from $125.00 to $140.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. William Blair started coverage on shares of Modine Manufacturing in a research report on Monday, July 29th. They issued an “outperform” rating for the company. Oppenheimer raised their price target on shares of Modine Manufacturing from $114.00 to $135.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. Finally, DA Davidson boosted their price objective on shares of Modine Manufacturing from $120.00 to $140.00 and gave the company a “buy” rating in a report on Thursday, August 1st. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $138.33.

Modine Manufacturing Stock Performance

NYSE:MOD opened at $108.10 on Thursday. The company has a market cap of $5.66 billion, a price-to-earnings ratio of 35.68, a PEG ratio of 0.74 and a beta of 2.23. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.11 and a current ratio of 1.80. Modine Manufacturing has a fifty-two week low of $38.50 and a fifty-two week high of $123.92. The stock has a fifty day moving average price of $107.50 and a 200-day moving average price of $99.43.

Modine Manufacturing (NYSE:MOD) last issued its quarterly earnings results on Tuesday, July 30th. The auto parts company reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.86 by $0.18. Modine Manufacturing had a net margin of 6.70% and a return on equity of 24.92%. The company had revenue of $661.50 million during the quarter, compared to the consensus estimate of $633.55 million. During the same quarter in the prior year, the firm posted $0.85 EPS. The firm’s quarterly revenue was up 6.3% on a year-over-year basis. As a group, equities analysts anticipate that Modine Manufacturing will post 3.85 EPS for the current fiscal year.

Insider Buying and Selling at Modine Manufacturing

In related news, Director Marsha C. Williams sold 34,400 shares of the stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $109.74, for a total transaction of $3,775,056.00. Following the transaction, the director now directly owns 144,038 shares of the company’s stock, valued at $15,806,730.12. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 2.40% of the company’s stock.

Modine Manufacturing Company Profile

Modine Manufacturing Company provides engineered heat transfer systems and heat transfer components for use in on- and off-highway original equipment manufacturer (OEM) vehicular applications. It operates through Climate Solutions and Performance Technologies segments. The company offers gas-fired, hydronic, electric, and oil-fired unit heaters; indoor and outdoor duct furnaces; infrared units; perimeter heating products, such as commercial fin-tube radiation, cabinet unit heaters, and convectors; roof-mounted direct- and indirect-fired makeup air units; unit ventilators; single packaged vertical units; precision air conditioning units for data center applications; air handler units; fan walls; chillers; ceiling cassettes; hybrid fan coils; and condensers and condensing units.