Janney Montgomery Scott LLC Buys 5,143 Shares of Modine Manufacturing Company $MOD

Janney Montgomery Scott LLC boosted its position in Modine Manufacturing Company (NYSE:MOD) by 61.4% during the 1st quarter, Holdings Channel.com reports. The fund owned 13,519 shares of the auto parts company’s stock after buying an additional 5,143 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Modine Manufacturing were worth $2,930,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Wellington Management Group LLP raised its position in shares of Modine Manufacturing by 4.7% during the 4th quarter. Wellington Management Group LLP now owns 2,879,299 shares of the auto parts company’s stock valued at $384,415,000 after acquiring an additional 130,511 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Modine Manufacturing by 31.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,333,174 shares of the auto parts company’s stock worth $311,503,000 after purchasing an additional 560,131 shares during the last quarter. Wasatch Advisors LP grew its stake in shares of Modine Manufacturing by 1.4% during the second quarter. Wasatch Advisors LP now owns 1,792,413 shares of the auto parts company’s stock worth $176,553,000 after purchasing an additional 23,955 shares during the period. Capital Research Global Investors increased its holdings in Modine Manufacturing by 13.8% in the fourth quarter. Capital Research Global Investors now owns 1,478,224 shares of the auto parts company’s stock valued at $197,358,000 after purchasing an additional 179,617 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in Modine Manufacturing by 120.4% in the fourth quarter. Invesco Ltd. now owns 1,318,529 shares of the auto parts company’s stock valued at $176,037,000 after purchasing an additional 720,389 shares during the last quarter. 95.23% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on MOD shares. Glj Research reissued a “buy” rating and set a $428.00 price objective on shares of Modine Manufacturing in a research note on Monday, June 1st. KeyCorp increased their target price 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. Zacks Research cut shares of Modine Manufacturing from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 13th. Weiss Ratings raised shares of Modine Manufacturing from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, May 28th. Finally, B. Riley Financial upped their price objective on shares of Modine Manufacturing from $250.00 to $264.00 and gave the company a “buy” rating in a research report on Tuesday, May 26th. Seven analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Modine Manufacturing currently has an average rating of “Moderate Buy” and a consensus target price of $327.14.

Modine Manufacturing Trading Down 2.0%

Shares of Modine Manufacturing stock opened at $230.60 on Wednesday. The stock has a market cap of $12.18 billion, a P/E ratio of 102.95, a P/E/G ratio of 0.76 and a beta of 1.67. The company has a quick ratio of 1.25, a current ratio of 1.94 and a debt-to-equity ratio of 0.32. Modine Manufacturing Company has a 12-month low of $86.48 and a 12-month high of $323.25. The business’s 50 day moving average is $269.56 and its 200-day moving average is $218.97.

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

Insider Transactions at Modine Manufacturing

In other news, insider Eric S. Mcginnis sold 1,020 shares of the stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $295.06, for a total transaction of $300,961.20. Following the sale, the insider directly owned 28,364 shares of the company’s stock, valued at approximately $8,369,081.84. This represents a 3.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Brian Jon Agen sold 38,282 shares of the stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $295.17, for a total transaction of $11,299,697.94. Following the sale, the vice president owned 66,343 shares in the company, valued at $19,582,463.31. The trade was a 36.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 54,302 shares of company stock valued at $15,928,759. 2.48% of the stock is currently owned by corporate insiders.

Modine Manufacturing Company 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.