Private Advisor Group LLC Has $4.47 Million Holdings in Modine Manufacturing Company $MOD

Private Advisor Group LLC lessened its position in Modine Manufacturing Company (NYSE:MOD) by 10.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,614 shares of the auto parts company’s stock after selling 2,432 shares during the quarter. Private Advisor Group LLC’s holdings in Modine Manufacturing were worth $4,467,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of MOD. Kemnay Advisory Services Inc. bought a new position in shares of Modine Manufacturing in the fourth quarter worth about $25,000. Spire Wealth Management acquired a new stake in Modine Manufacturing in the 4th quarter valued at approximately $27,000. Sunbelt Securities Inc. acquired a new stake in Modine Manufacturing in the 3rd quarter valued at approximately $39,000. Danske Bank A S bought a new position in Modine Manufacturing in the 3rd quarter worth approximately $43,000. Finally, Root Financial Partners LLC lifted its holdings in shares of Modine Manufacturing by 140.5% during the fourth quarter. Root Financial Partners LLC now owns 368 shares of the auto parts company’s stock worth $49,000 after buying an additional 215 shares during the last quarter. Institutional investors and hedge funds own 95.23% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. B. Riley Financial boosted their target price on shares of Modine Manufacturing from $250.00 to $264.00 and gave the stock a “buy” rating in a research report on Tuesday, May 26th. Zacks Research lowered shares of Modine Manufacturing from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 13th. KeyCorp boosted their price objective 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. Weiss Ratings raised shares of Modine Manufacturing from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, May 28th. Finally, UBS Group increased their target price on shares of Modine Manufacturing to $310.00 and gave the company a “buy” rating in a research note on Wednesday, May 27th. Seven analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $327.14.

Modine Manufacturing Price Performance

NYSE:MOD opened at $230.60 on Wednesday. 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 company has a 50-day moving average of $269.56 and a 200-day moving average of $218.97. Modine Manufacturing Company has a 52 week low of $86.48 and a 52 week high of $323.25. The company has a market capitalization of $12.18 billion, a price-to-earnings ratio of 102.95, a PEG ratio of 0.76 and a beta of 1.67.

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

Insider Buying and Selling at Modine Manufacturing

In other news, VP Brian Jon Agen sold 38,282 shares of the company’s stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $295.17, for a total value of $11,299,697.94. Following the sale, the vice president owned 66,343 shares of the company’s stock, valued at approximately $19,582,463.31. This represents a 36.59% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Eric D. Ashleman sold 15,000 shares of Modine Manufacturing stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $288.54, for a total transaction of $4,328,100.00. Following the transaction, the director directly owned 42,350 shares of the company’s stock, valued at $12,219,669. This represents a 26.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 54,302 shares of company stock worth $15,928,759 over the last three months. Company insiders own 2.48% of the company’s stock.

Modine Manufacturing 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.