Hennion & Walsh Asset Management Inc. Buys 3,289 Shares of Modine Manufacturing Company $MOD

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

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Lazard Asset Management LLC acquired a new stake in shares of Modine Manufacturing during the 1st quarter worth approximately $1,722,000. Ranger Investment Management L.P. acquired a new position in shares of Modine Manufacturing in the first quarter valued at $15,557,000. Allspring Global Investments Holdings LLC lifted its position in Modine Manufacturing by 253.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 306,005 shares of the auto parts company’s stock worth $68,230,000 after purchasing an additional 219,373 shares during the period. DUTCH ASSET Corp lifted its position in Modine Manufacturing by 122.2% in the first quarter. DUTCH ASSET Corp now owns 18,709 shares of the auto parts company’s stock worth $4,055,000 after purchasing an additional 10,290 shares during the period. Finally, Van Berkom & Associates Inc. boosted its stake in Modine Manufacturing by 3,145.2% during the fourth quarter. Van Berkom & Associates Inc. now owns 436,084 shares of the auto parts company’s stock worth $58,222,000 after buying an additional 422,646 shares in the last quarter. 95.23% of the stock is currently owned by institutional investors.

Insider Transactions at Modine Manufacturing

In related news, insider Eric S. Mcginnis sold 1,020 shares of Modine Manufacturing stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $295.06, for a total transaction of $300,961.20. Following the completion of the transaction, the insider directly owned 28,364 shares of the company’s stock, valued at $8,369,081.84. This trade represents a 3.47% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Eric D. Ashleman sold 15,000 shares of the business’s 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 completion of the transaction, the director owned 42,350 shares in the company, valued at approximately $12,219,669. This trade represents a 26.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 54,302 shares of company stock valued at $15,928,759. 1.92% of the stock is owned by insiders.

Modine Manufacturing Price Performance

Shares of MOD stock opened at $196.31 on Friday. The stock’s fifty day simple moving average is $248.96 and its 200 day simple moving average is $232.59. Modine Manufacturing Company has a one year low of $111.18 and a one year high of $323.25. 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. 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 (NYSE:MOD) last released its quarterly earnings data on Tuesday, July 28th. The auto parts company reported $1.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.27 by $0.26. The firm had revenue of $874.10 million during the quarter, compared to analyst estimates of $878.69 million. Modine Manufacturing had a return on equity of 25.59% and a net margin of 4.28%.The business’s revenue for the quarter was up 28.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.95 earnings per share. On average, analysts expect that Modine Manufacturing Company will post 7.65 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have issued reports on MOD shares. Wall Street Zen lowered shares of Modine Manufacturing from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. KeyCorp reduced their price objective on shares of Modine Manufacturing from $370.00 to $280.00 and set an “overweight” rating for the company in a report on Thursday, July 30th. Weiss Ratings upgraded shares of Modine Manufacturing from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, May 28th. Oppenheimer upped their target price on shares of Modine Manufacturing from $271.00 to $325.00 and gave the company an “outperform” rating in a research note on Thursday, May 28th. Finally, Zacks Research lowered shares of Modine Manufacturing from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 13th. Seven investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Modine Manufacturing has an average rating of “Moderate Buy” and an average price target 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.