Modine Manufacturing (NYSE:MOD) Shares Acquired by Raymond James & Associates

Raymond James & Associates lifted its position in shares of Modine Manufacturing (NYSE:MOD) by 184.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 44,943 shares of the auto parts company’s stock after purchasing an additional 29,157 shares during the quarter. Raymond James & Associates owned 0.09% of Modine Manufacturing worth $1,484,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. PNC Financial Services Group Inc. grew its stake in shares of Modine Manufacturing by 966.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,472 shares of the auto parts company’s stock worth $29,000 after purchasing an additional 1,334 shares during the period. Point72 Middle East FZE acquired a new stake in shares of Modine Manufacturing during the 4th quarter worth approximately $31,000. Quantbot Technologies LP grew its stake in shares of Modine Manufacturing by 123.5% during the 1st quarter. Quantbot Technologies LP now owns 3,800 shares of the auto parts company’s stock worth $34,000 after purchasing an additional 2,100 shares during the period. Tower Research Capital LLC TRC grew its stake in shares of Modine Manufacturing by 161.3% during the 1st quarter. Tower Research Capital LLC TRC now owns 1,680 shares of the auto parts company’s stock worth $38,000 after purchasing an additional 1,037 shares during the period. Finally, Ensign Peak Advisors Inc acquired a new stake in shares of Modine Manufacturing during the 3rd quarter worth approximately $42,000. Institutional investors and hedge funds own 91.35% of the company’s stock.

Insider Buying and Selling at Modine Manufacturing

In other Modine Manufacturing news, CFO Michael B. Lucareli sold 37,746 shares of the firm’s stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $45.95, for a total value of $1,734,428.70. Following the transaction, the chief financial officer now owns 293,012 shares in the company, valued at approximately $13,463,901.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Michael B. Lucareli sold 37,746 shares of Modine Manufacturing stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $45.95, for a total transaction of $1,734,428.70. Following the transaction, the chief financial officer now owns 293,012 shares in the company, valued at approximately $13,463,901.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Marsha C. Williams sold 17,286 shares of Modine Manufacturing stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $44.63, for a total value of $771,474.18. Following the transaction, the director now owns 172,074 shares in the company, valued at approximately $7,679,662.62. The disclosure for this sale can be found here. 2.86% of the stock is currently owned by insiders.

Modine Manufacturing Trading Up 4.3 %

Shares of MOD stock opened at $41.19 on Thursday. The stock’s fifty day moving average is $45.00 and its two-hundred day moving average is $36.04. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.11 and a current ratio of 1.76. The firm has a market capitalization of $2.16 billion, a P/E ratio of 11.90, a PEG ratio of 0.55 and a beta of 2.23. Modine Manufacturing has a fifty-two week low of $16.76 and a fifty-two week high of $51.76.

Modine Manufacturing (NYSE:MOD) last announced its quarterly earnings data on Wednesday, August 2nd. The auto parts company reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.42. The company had revenue of $622.40 million for the quarter, compared to analyst estimates of $563.10 million. Modine Manufacturing had a return on equity of 23.96% and a net margin of 7.72%. Research analysts expect that Modine Manufacturing will post 2.88 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. StockNews.com cut shares of Modine Manufacturing from a “strong-buy” rating to a “buy” rating in a research note on Monday. B. Riley lifted their price target on shares of Modine Manufacturing from $45.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, August 4th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $43.33.

Modine Manufacturing Company Profile

Modine Manufacturing Company provides engineered heat transfer systems and heat transfer components for use in on- and off-highway original equipment manufacturer (OEM) vehicular applications. It operates through Climate Solutions and Performance Technologies segments. The company offers gas-fired, hydronic, electric, and oil-fired unit heaters; indoor and outdoor duct furnaces; infrared units; perimeter heating products, such as commercial fin-tube radiation, cabinet unit heaters, and convectors; roof-mounted direct- and indirect-fired makeup air units; unit ventilators; single packaged vertical units; precision air conditioning units for data center applications; air handler units; fan walls; chillers; ceiling cassettes; hybrid fan coils; and condensers and condensing units.