Harvest Fund Management Co. Ltd Takes Position in Modine Manufacturing (NYSE:MOD)

Harvest Fund Management Co. Ltd acquired a new position in Modine Manufacturing (NYSE:MOD) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 1,475 shares of the auto parts company’s stock, valued at approximately $196,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in MOD. Acadian Asset Management LLC purchased a new position in shares of Modine Manufacturing in the first quarter worth about $37,000. Opal Wealth Advisors LLC bought a new position in Modine Manufacturing in the 2nd quarter worth approximately $51,000. West Oak Capital LLC grew its stake in Modine Manufacturing by 300.0% in the 2nd quarter. West Oak Capital LLC now owns 600 shares of the auto parts company’s stock valued at $60,000 after buying an additional 450 shares in the last quarter. Fifth Third Bancorp bought a new stake in Modine Manufacturing during the 2nd quarter valued at $64,000. Finally, DekaBank Deutsche Girozentrale purchased a new stake in shares of Modine Manufacturing during the second quarter worth $68,000. 95.23% of the stock is currently owned by institutional investors.

Modine Manufacturing Price Performance

NYSE:MOD opened at $133.51 on Thursday. Modine Manufacturing has a 52-week low of $48.88 and a 52-week high of $146.84. The stock has a fifty day moving average of $129.43 and a 200 day moving average of $113.01. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.09 and a current ratio of 1.77. The firm has a market capitalization of $7.01 billion, a price-to-earnings ratio of 43.77, a P/E/G ratio of 1.06 and a beta of 2.25.

Modine Manufacturing (NYSE:MOD) last issued its quarterly earnings results on Tuesday, October 29th. The auto parts company reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same quarter last year, the company posted $0.89 EPS. On average, research analysts expect that Modine Manufacturing will post 3.83 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. DA Davidson lifted their price target on Modine Manufacturing from $140.00 to $155.00 and gave the company a “buy” rating in a research report on Tuesday, September 24th. 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. Finally, Oppenheimer increased their price target on shares of Modine Manufacturing from $144.00 to $145.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Modine Manufacturing presently has a consensus rating of “Moderate Buy” and a consensus price target of $146.67.

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.