Aigen Investment Management LP Buys New Position in Modine Manufacturing (NYSE:MOD)

Aigen Investment Management LP purchased a new position in shares of Modine Manufacturing (NYSE:MOD) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 2,923 shares of the auto parts company’s stock, valued at approximately $388,000.

A number of other institutional investors have also modified their holdings of MOD. Apollon Wealth Management LLC purchased a new stake in Modine Manufacturing in the 3rd quarter worth approximately $494,000. Lisanti Capital Growth LLC grew its position in shares of Modine Manufacturing by 9.3% in the third quarter. Lisanti Capital Growth LLC now owns 50,640 shares of the auto parts company’s stock valued at $6,724,000 after purchasing an additional 4,325 shares during the period. Peregrine Asset Advisers Inc. increased its stake in Modine Manufacturing by 61.6% in the third quarter. Peregrine Asset Advisers Inc. now owns 56,290 shares of the auto parts company’s stock valued at $7,475,000 after purchasing an additional 21,452 shares during the last quarter. Colonial River Investments LLC purchased a new position in Modine Manufacturing during the third quarter worth about $465,000. Finally, Axxcess Wealth Management LLC purchased a new position in Modine Manufacturing during the third quarter worth about $463,000. Institutional investors and hedge funds own 95.23% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. William Blair assumed coverage on shares of Modine Manufacturing in a report on Monday, July 29th. They set an “outperform” rating on the stock. DA Davidson increased their price target on shares of Modine Manufacturing from $140.00 to $155.00 and gave the stock a “buy” rating in a research note on Tuesday, September 24th. Oppenheimer upped their price objective on Modine Manufacturing from $144.00 to $145.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Finally, B. Riley lifted their target price on Modine Manufacturing from $125.00 to $140.00 and gave the company a “buy” rating in a report on Thursday, August 1st. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $146.67.

Modine Manufacturing Price Performance

MOD opened at $120.07 on Friday. The company has a 50 day moving average of $124.17 and a two-hundred day moving average of $110.61. Modine Manufacturing has a 52-week low of $48.10 and a 52-week high of $141.72. The company has a quick ratio of 1.09, a current ratio of 1.77 and a debt-to-equity ratio of 0.41. The company has a market cap of $6.30 billion, a P/E ratio of 39.37, a P/E/G ratio of 0.96 and a beta of 2.25.

Modine Manufacturing (NYSE:MOD) last announced its quarterly earnings results on Tuesday, October 29th. The auto parts company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.05. The firm had revenue of $658.00 million during the quarter, compared to the consensus estimate of $646.86 million. Modine Manufacturing had a return on equity of 23.96% and a net margin of 6.59%. The firm’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.89 EPS. On average, analysts expect that Modine Manufacturing will post 3.83 earnings per share for the current year.

Modine Manufacturing Profile

Modine Manufacturing Company provides thermal management products and solutions in the United States, Italy, Hungary, China, the United Kingdom, and internationally. It operates through Climate Solutions and Performance Technologies segments. The company offers heat transfer coils, including heat recovery and round tube plate fin coils; gas-fired, hydronic, electric and oilfired unit heaters; roof-mounted direct- and indirect-fired makeup air units; duct furnaces; infrared units; perimeter heating products; single packaged unit ventilators; modular chillers; air handler and condensing units; ceiling cassettes; evaporator unit coolers, remote condensers, fluid coolers, gas coolers, and dry and brine coolers; and motor and generator cooling coils, transformer oil coolers, radiators, dryers, and industrial heat exchangers.