Hennion & Walsh Asset Management Inc. Has $7.89 Million Stock Position in Modine Manufacturing Company $MOD

Hennion & Walsh Asset Management Inc. grew its holdings in shares of Modine Manufacturing Company (NYSE:MOD) by 12.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 29,545 shares of the auto parts company’s stock after purchasing an additional 3,289 shares during the quarter. Hennion & Walsh Asset Management Inc. owned about 0.06% of Modine Manufacturing worth $7,889,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of MOD. Gradient Investments LLC bought a new stake in Modine Manufacturing in the second quarter worth $203,000. Harbor Investment Advisory LLC bought a new position in Modine Manufacturing during the second quarter valued at about $138,000. Optiver Holding B.V. raised its holdings in Modine Manufacturing by 19.7% during the first quarter. Optiver Holding B.V. now owns 237 shares of the auto parts company’s stock valued at $51,000 after buying an additional 39 shares in the last quarter. Integrated Investment Consultants LLC acquired a new stake in shares of Modine Manufacturing in the first quarter worth about $201,000. Finally, Argent Capital Management LLC lifted its position in shares of Modine Manufacturing by 25.4% in the first quarter. Argent Capital Management LLC now owns 10,169 shares of the auto parts company’s stock worth $2,204,000 after buying an additional 2,060 shares during the last quarter. Institutional investors and hedge funds own 95.23% of the company’s stock.

Modine Manufacturing Stock Up 2.0%

Modine Manufacturing stock opened at $196.31 on Friday. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.04 and a quick ratio of 1.22. Modine Manufacturing Company has a fifty-two week low of $111.18 and a fifty-two week high of $323.25. The firm has a fifty day moving average price of $248.96 and a two-hundred day moving average price of $232.59. The firm has a market cap of $10.43 billion, a price-to-earnings ratio of 73.80, a P/E/G ratio of 0.64 and a beta of 1.71.

Modine Manufacturing (NYSE:MOD) last issued its quarterly earnings results on Tuesday, July 28th. The auto parts company reported $1.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $0.26. Modine Manufacturing had a return on equity of 25.59% and a net margin of 4.28%.The company had revenue of $874.10 million for the quarter, compared to the consensus estimate of $878.69 million. During the same period last year, the business posted $0.95 earnings per share. The firm’s revenue was up 28.0% compared to the same quarter last year. As a group, analysts forecast that Modine Manufacturing Company will post 7.65 earnings per share for the current year.

Insider Buying and Selling at Modine Manufacturing

In other Modine Manufacturing news, Director Eric D. Ashleman sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $288.54, for a total value of $4,328,100.00. Following the sale, the director owned 42,350 shares of the company’s stock, valued at $12,219,669. This trade represents a 26.16% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Eric S. Mcginnis sold 1,020 shares of the company’s stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $295.06, for a total value of $300,961.20. Following the transaction, the insider owned 28,364 shares of the company’s stock, valued at approximately $8,369,081.84. This trade represents a 3.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 54,302 shares of company stock valued at $15,928,759 in the last 90 days. 1.92% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on MOD. UBS Group increased their price objective on Modine Manufacturing to $310.00 and gave the company a “buy” rating in a report on Wednesday, May 27th. B. Riley Financial restated a “buy” rating and issued a $305.00 target price (down from $340.00) on shares of Modine Manufacturing in a report on Thursday, July 30th. DA Davidson reaffirmed a “buy” rating and set a $330.00 target price on shares of Modine Manufacturing in a research report on Monday, June 22nd. Zacks Research cut Modine Manufacturing from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 13th. Finally, Wall Street Zen downgraded Modine Manufacturing from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. Seven analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $320.14.

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.