Hennion & Walsh Asset Management Inc. Increases Holdings in Modine Manufacturing Company $MOD

Hennion & Walsh Asset Management Inc. increased its position in Modine Manufacturing Company (NYSE:MOD) by 18.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,900 shares of the auto parts company’s stock after purchasing an additional 2,684 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Modine Manufacturing were worth $2,256,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Spire Wealth Management bought a new stake in Modine Manufacturing during the 4th quarter valued at $27,000. Norden Group LLC bought a new position in shares of Modine Manufacturing during the 4th quarter worth $220,000. Moody National Bank Trust Division increased its stake in shares of Modine Manufacturing by 12.0% during the fourth quarter. Moody National Bank Trust Division now owns 22,197 shares of the auto parts company’s stock valued at $2,964,000 after buying an additional 2,371 shares during the period. Congress Asset Management Co. increased its stake in shares of Modine Manufacturing by 7.8% during the fourth quarter. Congress Asset Management Co. now owns 568,853 shares of the auto parts company’s stock valued at $75,948,000 after buying an additional 41,373 shares during the period. Finally, SG Americas Securities LLC raised its holdings in shares of Modine Manufacturing by 1,598.4% in the fourth quarter. SG Americas Securities LLC now owns 63,164 shares of the auto parts company’s stock valued at $8,433,000 after acquiring an additional 59,445 shares in the last quarter. 95.23% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Modine Manufacturing

In other news, Director Suresh V. Garimella sold 1,100 shares of Modine Manufacturing stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $184.07, for a total value of $202,477.00. Following the transaction, the director owned 79,856 shares of the company’s stock, valued at $14,699,093.92. The trade was a 1.36% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.48% of the company’s stock.

Modine Manufacturing Trading Up 2.8%

Shares of NYSE MOD opened at $222.75 on Thursday. Modine Manufacturing Company has a 1-year low of $64.79 and a 1-year high of $243.80. The business has a fifty day moving average price of $204.33 and a 200 day moving average price of $166.37. The stock has a market capitalization of $11.75 billion, a P/E ratio of 123.75, a price-to-earnings-growth ratio of 1.32 and a beta of 1.68. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.19 and a quick ratio of 1.28.

Modine Manufacturing (NYSE:MOD) last posted its earnings results on Wednesday, February 4th. The auto parts company reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.20. The company had revenue of $805.00 million for the quarter, compared to analyst estimates of $763.54 million. Modine Manufacturing had a return on equity of 22.99% and a net margin of 3.40%.The firm’s quarterly revenue was up 30.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.92 earnings per share. Equities research analysts expect that Modine Manufacturing Company will post 3.88 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on MOD shares. Roth Mkm initiated coverage on shares of Modine Manufacturing in a research note on Wednesday, February 18th. They issued a “buy” rating and a $263.00 price objective for the company. Weiss Ratings restated a “hold (c)” rating on shares of Modine Manufacturing in a report on Monday, December 29th. Wall Street Zen lowered shares of Modine Manufacturing from a “buy” rating to a “hold” rating in a report on Sunday, February 22nd. Oppenheimer upped their price target on shares of Modine Manufacturing from $220.00 to $240.00 and gave the stock an “outperform” rating in a research report on Friday, February 6th. Finally, Zacks Research upgraded shares of Modine Manufacturing from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, Modine Manufacturing presently has an average rating of “Buy” and an average price target of $234.33.

About Modine Manufacturing

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.