Private Advisor Group LLC Lowers Holdings in Modine Manufacturing (NYSE:MOD)

Private Advisor Group LLC cut its holdings in Modine Manufacturing (NYSE:MOD) by 10.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 36,315 shares of the auto parts company’s stock after selling 4,266 shares during the period. Private Advisor Group LLC owned 0.07% of Modine Manufacturing worth $4,822,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in MOD. Acadian Asset Management LLC purchased a new position in Modine Manufacturing in the 1st quarter worth approximately $37,000. Opal Wealth Advisors LLC bought a new stake in Modine Manufacturing in the 2nd quarter worth approximately $51,000. West Oak Capital LLC increased 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 worth $60,000 after acquiring an additional 450 shares during the last quarter. Fifth Third Bancorp bought a new stake in Modine Manufacturing in the 2nd quarter worth approximately $64,000. Finally, DekaBank Deutsche Girozentrale bought a new stake in Modine Manufacturing in the 2nd quarter worth approximately $68,000. 95.23% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Modine Manufacturing

In related news, Director Marsha C. Williams sold 34,400 shares of the business’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $109.74, for a total transaction of $3,775,056.00. Following the completion of the transaction, the director now owns 144,038 shares in the company, valued at $15,806,730.12. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.40% of the stock is owned by company insiders.

Modine Manufacturing Stock Performance

NYSE MOD opened at $127.25 on Friday. The company has a market cap of $6.67 billion, a P/E ratio of 41.59, a P/E/G ratio of 0.98 and a beta of 2.22. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.11 and a current ratio of 1.80. The business’s 50 day moving average price is $121.89 and its 200-day moving average price is $107.49. Modine Manufacturing has a fifty-two week low of $38.50 and a fifty-two week high of $141.72.

Modine Manufacturing (NYSE:MOD) last released 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 return on equity of 24.92% and a net margin of 6.70%. The firm had revenue of $661.50 million for 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 company’s revenue for the quarter was up 6.3% compared to the same quarter last year. Sell-side analysts predict that Modine Manufacturing will post 3.86 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Oppenheimer lifted their price objective on Modine Manufacturing from $135.00 to $144.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. William Blair assumed coverage on Modine Manufacturing in a research note on Monday, July 29th. They issued an “outperform” rating on the stock. DA Davidson lifted their price objective on Modine Manufacturing from $140.00 to $155.00 and gave the stock a “buy” rating in a research note on Tuesday, September 24th. Finally, B. Riley lifted their price objective on Modine Manufacturing from $125.00 to $140.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $146.33.

About Modine Manufacturing

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.