Virtu Financial LLC Acquires New Stake in Modine Manufacturing (NYSE:MOD)

Virtu Financial LLC acquired a new stake in Modine Manufacturing (NYSE:MOD) during the first quarter, HoldingsChannel reports. The fund acquired 18,269 shares of the auto parts company’s stock, valued at approximately $1,739,000.

Other institutional investors also recently made changes to their positions in the company. Hennessy Advisors Inc. boosted its position in shares of Modine Manufacturing by 20.4% during the 1st quarter. Hennessy Advisors Inc. now owns 714,400 shares of the auto parts company’s stock worth $68,004,000 after purchasing an additional 121,200 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Modine Manufacturing by 3.2% during the 3rd quarter. Vanguard Group Inc. now owns 3,056,893 shares of the auto parts company’s stock worth $139,853,000 after purchasing an additional 95,255 shares in the last quarter. 1492 Capital Management LLC purchased a new stake in shares of Modine Manufacturing during the 4th quarter worth $1,284,000. Janney Montgomery Scott LLC purchased a new stake in shares of Modine Manufacturing during the 1st quarter worth $833,000. Finally, State Board of Administration of Florida Retirement System boosted its position in shares of Modine Manufacturing by 327.8% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 62,841 shares of the auto parts company’s stock worth $5,982,000 after purchasing an additional 48,150 shares in the last quarter. 95.23% of the stock is currently owned by hedge funds and other institutional investors.

Modine Manufacturing Price Performance

MOD stock traded down $13.08 during trading on Friday, hitting $98.78. The stock had a trading volume of 1,611,773 shares, compared to its average volume of 950,541. The company’s 50 day moving average price is $101.82 and its two-hundred day moving average price is $91.95. Modine Manufacturing has a 1-year low of $38.50 and a 1-year high of $123.92. The stock has a market cap of $5.18 billion, a price-to-earnings ratio of 33.85, a price-to-earnings-growth ratio of 0.93 and a beta of 2.27. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.98 and a current ratio of 1.64.

Modine Manufacturing (NYSE:MOD) last announced its earnings results on Tuesday, July 30th. The auto parts company reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.86 by $0.18. Modine Manufacturing had a net margin of 6.70% and a return on equity of 25.57%. The firm had revenue of $661.50 million during the quarter, compared to the consensus estimate of $633.55 million. During the same quarter in the previous year, the company posted $0.85 EPS. The firm’s revenue for the quarter was up 6.3% on a year-over-year basis. On average, sell-side analysts forecast that Modine Manufacturing will post 3.74 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

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.