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

Private Advisor Group LLC trimmed its holdings in Modine Manufacturing Company (NYSE:MOD) by 10.6% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund 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 hedge funds have also recently added to or reduced their stakes in MOD. Peregrine Asset Advisers Inc. raised its stake in shares of Modine Manufacturing by 17.5% in the first quarter. Peregrine Asset Advisers Inc. now owns 1,794 shares of the auto parts company’s stock worth $389,000 after acquiring an additional 267 shares during the last quarter. Strs Ohio increased its holdings in shares of Modine Manufacturing by 20.4% in the first quarter. Strs Ohio now owns 6,500 shares of the auto parts company’s stock valued at $1,409,000 after purchasing an additional 1,100 shares in the last quarter. Apollon Wealth Management LLC increased its holdings in shares of Modine Manufacturing by 37.7% in the first quarter. Apollon Wealth Management LLC now owns 2,377 shares of the auto parts company’s stock valued at $515,000 after purchasing an additional 651 shares in the last quarter. Janney Montgomery Scott LLC raised its position in Modine Manufacturing by 61.4% in the 1st quarter. Janney Montgomery Scott LLC now owns 13,519 shares of the auto parts company’s stock worth $2,930,000 after purchasing an additional 5,143 shares during the last quarter. Finally, Union Bancaire Privee UBP SA lifted its holdings in Modine Manufacturing by 48.8% during the 1st quarter. Union Bancaire Privee UBP SA now owns 9,948 shares of the auto parts company’s stock worth $2,156,000 after buying an additional 3,264 shares in the last quarter. Institutional investors own 95.23% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on the company. Wall Street Zen upgraded Modine Manufacturing from a “hold” rating to a “buy” rating in a research report on Saturday, May 30th. B. Riley Financial upped their price target on Modine Manufacturing from $250.00 to $264.00 and gave the company a “buy” rating in a research note on Tuesday, May 26th. DA Davidson reiterated a “buy” rating and issued a $330.00 price target on shares of Modine Manufacturing in a report on Monday, June 22nd. Weiss Ratings raised Modine Manufacturing from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, May 28th. Finally, UBS Group upped their target price on shares of Modine Manufacturing to $310.00 and gave the company a “buy” rating in a research report on Wednesday, May 27th. Seven investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, Modine Manufacturing currently has a consensus rating of “Moderate Buy” and a consensus target price of $327.14.

Insider Transactions at Modine Manufacturing

In related news, Director Eric D. Ashleman sold 15,000 shares of the business’s stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $288.54, for a total value of $4,328,100.00. Following the sale, the director directly owned 42,350 shares of the company’s stock, valued at approximately $12,219,669. The trade was a 26.16% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Eric S. Mcginnis sold 1,020 shares of the business’s stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $295.06, for a total value of $300,961.20. Following the completion of the sale, the insider owned 28,364 shares in the company, valued at $8,369,081.84. The trade was a 3.47% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 54,302 shares of company stock valued at $15,928,759 over the last 90 days. 2.48% of the stock is owned by company insiders.

Modine Manufacturing Trading Down 2.0%

NYSE:MOD opened at $230.60 on Wednesday. The company has a current ratio of 1.94, a quick ratio of 1.25 and a debt-to-equity ratio of 0.32. Modine Manufacturing Company has a 1-year low of $86.48 and a 1-year high of $323.25. The firm 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. The business’s 50-day moving average price is $269.56 and its two-hundred day moving average price 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 for the quarter, topping the consensus estimate of $1.51 by $0.20. The business had revenue of $954.40 million for 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%. Modine Manufacturing’s quarterly revenue was up 47.5% compared to the same quarter last year. During the same quarter last year, the firm earned $1.12 EPS. On average, equities analysts expect that Modine Manufacturing Company will post 7.73 earnings per share for the current year.

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.