Needham Investment Management LLC Invests $3.34 Million in Modine Manufacturing Company $MOD

Needham Investment Management LLC bought a new position in Modine Manufacturing Company (NYSE:MOD) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 25,000 shares of the auto parts company’s stock, valued at approximately $3,338,000.

Several other hedge funds also recently added to or reduced their stakes in MOD. Squarepoint Ops LLC grew its position in Modine Manufacturing by 120.7% during the fourth quarter. Squarepoint Ops LLC now owns 71,468 shares of the auto parts company’s stock valued at $9,542,000 after buying an additional 39,081 shares during the period. Truvestments Capital LLC raised its holdings in Modine Manufacturing by 5.7% in the 4th quarter. Truvestments Capital LLC now owns 10,918 shares of the auto parts company’s stock worth $1,458,000 after purchasing an additional 593 shares during the period. MML Investors Services LLC grew its holdings in Modine Manufacturing by 57.4% in the fourth quarter. MML Investors Services LLC now owns 5,490 shares of the auto parts company’s stock valued at $733,000 after purchasing an additional 2,002 shares during the period. Nicholas Investment Partners LP raised its stake in shares of Modine Manufacturing by 5.9% during the 4th quarter. Nicholas Investment Partners LP now owns 70,057 shares of the auto parts company’s stock worth $9,353,000 after buying an additional 3,873 shares during the period. Finally, Kennedy Capital Management LLC lifted its position in shares of Modine Manufacturing by 72.1% during the 4th quarter. Kennedy Capital Management LLC now owns 113,360 shares of the auto parts company’s stock valued at $15,135,000 after buying an additional 47,478 shares in the last quarter. 95.23% of the stock is owned by hedge funds and other institutional investors.

Modine Manufacturing Price Performance

Shares of NYSE MOD opened at $286.39 on Tuesday. The stock’s 50-day simple moving average is $261.57 and its 200-day simple moving average is $206.44. 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 firm has a market capitalization of $15.13 billion, a PE ratio of 127.85, a price-to-earnings-growth ratio of 0.89 and a beta of 1.65. Modine Manufacturing Company has a fifty-two week low of $86.48 and a fifty-two week high of $323.25.

Modine Manufacturing (NYSE:MOD) last issued its quarterly earnings data on Tuesday, May 26th. The auto parts company reported $1.71 earnings per share for the quarter, topping the consensus estimate of $1.51 by $0.20. The business had revenue of $954.40 million during the quarter, compared to the consensus estimate of $920.67 million. Modine Manufacturing had a net margin of 3.82% and a return on equity of 24.39%. The company’s revenue was up 47.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.12 EPS. As a group, equities research analysts forecast that Modine Manufacturing Company will post 7.73 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently issued reports on MOD shares. Roth Mkm began coverage on shares of Modine Manufacturing in a research note on Wednesday, February 18th. They set a “buy” rating and a $263.00 price objective for the company. Oppenheimer upped their target price on Modine Manufacturing from $271.00 to $325.00 and gave the company an “outperform” rating in a report on Thursday, May 28th. UBS Group raised their price objective on shares of Modine Manufacturing to $310.00 and gave the stock a “buy” rating in a research report on Wednesday, May 27th. Zacks Research cut shares of Modine Manufacturing from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 13th. Finally, KeyCorp raised their price target on shares of Modine Manufacturing from $250.00 to $370.00 and gave the stock an “overweight” rating in a report on Wednesday, May 27th. Seven equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock 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.