Handelsbanken Fonder AB Buys 2,700 Shares of Modine Manufacturing (NYSE:MOD)

Handelsbanken Fonder AB raised its stake in Modine Manufacturing (NYSE:MOD) by 25.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 13,300 shares of the auto parts company’s stock after acquiring an additional 2,700 shares during the period. Handelsbanken Fonder AB’s holdings in Modine Manufacturing were worth $1,542,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Farther Finance Advisors LLC grew its position in Modine Manufacturing by 90.9% in the third quarter. Farther Finance Advisors LLC now owns 1,031 shares of the auto parts company’s stock valued at $137,000 after acquiring an additional 491 shares during the period. Entropy Technologies LP bought a new stake in Modine Manufacturing in the fourth quarter valued at $452,000. New York State Common Retirement Fund grew its holdings in shares of Modine Manufacturing by 9.9% during the fourth quarter. New York State Common Retirement Fund now owns 247,975 shares of the auto parts company’s stock worth $28,748,000 after purchasing an additional 22,259 shares during the last quarter. Legend Financial Advisors Inc. grew its holdings in shares of Modine Manufacturing by 2.9% during the fourth quarter. Legend Financial Advisors Inc. now owns 9,929 shares of the auto parts company’s stock worth $1,151,000 after purchasing an additional 279 shares during the last quarter. Finally, Peregrine Capital Management LLC grew its holdings in shares of Modine Manufacturing by 10.9% during the fourth quarter. Peregrine Capital Management LLC now owns 100,949 shares of the auto parts company’s stock worth $11,703,000 after purchasing an additional 9,920 shares during the last quarter. 95.23% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Oppenheimer increased their target price on Modine Manufacturing from $144.00 to $145.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st.

Modine Manufacturing Price Performance

Modine Manufacturing stock opened at $86.94 on Thursday. The business’s 50-day simple moving average is $110.65 and its 200 day simple moving average is $119.47. The stock has a market cap of $4.57 billion, a price-to-earnings ratio of 29.17, a P/E/G ratio of 0.71 and a beta of 2.31. Modine Manufacturing has a 12-month low of $78.85 and a 12-month high of $146.84. The company has a quick ratio of 1.18, a current ratio of 1.87 and a debt-to-equity ratio of 0.38.

Modine Manufacturing (NYSE:MOD) last released its earnings results on Tuesday, February 4th. The auto parts company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.13. Modine Manufacturing had a return on equity of 24.25% and a net margin of 6.31%. As a group, research analysts anticipate that Modine Manufacturing will post 3.88 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.