Modine Manufacturing Company $MOD Shares Sold by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. cut its holdings in shares of Modine Manufacturing Company (NYSE:MOD) by 22.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 31,810 shares of the auto parts company’s stock after selling 9,397 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Modine Manufacturing were worth $4,522,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. First Horizon Corp acquired a new position in shares of Modine Manufacturing during the 3rd quarter valued at about $38,000. Parkside Financial Bank & Trust grew its holdings in Modine Manufacturing by 2,025.0% in the second quarter. Parkside Financial Bank & Trust now owns 425 shares of the auto parts company’s stock valued at $42,000 after purchasing an additional 405 shares during the period. Elevation Point Wealth Partners LLC acquired a new position in Modine Manufacturing during the second quarter worth approximately $57,000. Toth Financial Advisory Corp purchased a new position in Modine Manufacturing during the third quarter worth approximately $57,000. Finally, AdvisorShares Investments LLC boosted its holdings in shares of Modine Manufacturing by 154.0% in the 3rd quarter. AdvisorShares Investments LLC now owns 475 shares of the auto parts company’s stock valued at $68,000 after purchasing an additional 288 shares during the last quarter. Hedge funds and other institutional investors own 95.23% of the company’s stock.

Modine Manufacturing Trading Down 0.0%

Shares of MOD opened at $219.72 on Thursday. Modine Manufacturing Company has a 12 month low of $64.79 and a 12 month high of $235.02. The stock’s 50-day moving average is $152.26 and its two-hundred day moving average is $147.67. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.19 and a quick ratio of 1.28. The stock has a market cap of $11.59 billion, a PE ratio of 122.07, a P/E/G ratio of 1.34 and a beta of 1.71.

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 analysts’ consensus estimates of $0.99 by $0.20. The business had revenue of $805.00 million during 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 company’s revenue for the quarter was up 30.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.92 earnings per share. Equities analysts forecast that Modine Manufacturing Company will post 3.88 earnings per share for the current fiscal year.

Analyst Ratings Changes

MOD has been the subject of a number of research analyst reports. DA Davidson upped their price objective on Modine Manufacturing from $255.00 to $265.00 and gave the stock a “buy” rating in a report on Monday. UBS Group started coverage on Modine Manufacturing in a research report on Thursday, November 20th. They set a “buy” rating and a $173.00 price target for the company. Oppenheimer raised their price objective on Modine Manufacturing from $220.00 to $240.00 and gave the stock an “outperform” rating in a report on Friday, February 6th. Zacks Research upgraded Modine Manufacturing from a “hold” rating to a “strong-buy” rating in a report on Friday, January 30th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Modine Manufacturing in a research report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $213.25.

Insider Activity at Modine Manufacturing

In other news, CEO Neil David Brinker sold 31,871 shares of Modine Manufacturing stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $160.56, for a total transaction of $5,117,207.76. Following the sale, the chief executive officer owned 238,312 shares in the company, valued at $38,263,374.72. This trade represents a 11.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Suresh V. Garimella sold 1,100 shares of the business’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $184.07, for a total transaction of $202,477.00. Following the transaction, the director directly owned 79,856 shares in the company, valued at approximately $14,699,093.92. The trade was a 1.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 34,071 shares of company stock valued at $5,484,685 in the last ninety days. 2.48% of the stock is 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.