Modine Manufacturing (NYSE:MOD) Shares Bought by Raymond James Financial Services Advisors Inc.

Raymond James Financial Services Advisors Inc. increased its stake in Modine Manufacturing (NYSE:MOD) by 107.4% during the 4th quarter, HoldingsChannel reports. The firm owned 11,732 shares of the auto parts company’s stock after acquiring an additional 6,075 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Modine Manufacturing were worth $700,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in the stock. BlackRock Inc. lifted its holdings in shares of Modine Manufacturing by 0.9% in the 2nd quarter. BlackRock Inc. now owns 5,011,439 shares of the auto parts company’s stock worth $165,478,000 after purchasing an additional 45,665 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Modine Manufacturing by 1.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,807,233 shares of the auto parts company’s stock worth $87,755,000 after purchasing an additional 67,372 shares during the last quarter. Gamco Investors INC. ET AL lifted its holdings in shares of Modine Manufacturing by 5.6% in the 1st quarter. Gamco Investors INC. ET AL now owns 3,250,247 shares of the auto parts company’s stock worth $29,285,000 after purchasing an additional 171,848 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Modine Manufacturing by 3.2% in the 3rd quarter. Vanguard Group Inc. now owns 3,056,893 shares of the auto parts company’s stock worth $139,853,000 after purchasing an additional 95,255 shares during the last quarter. Finally, Brown Advisory Inc. lifted its holdings in shares of Modine Manufacturing by 9.8% in the 3rd quarter. Brown Advisory Inc. now owns 1,471,477 shares of the auto parts company’s stock worth $67,320,000 after purchasing an additional 131,734 shares during the last quarter. Institutional investors own 95.23% of the company’s stock.

Insider Buying and Selling at Modine Manufacturing

In other news, CFO Michael B. Lucareli sold 82,312 shares of Modine Manufacturing stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $90.33, for a total transaction of $7,435,242.96. Following the transaction, the chief financial officer now directly owns 194,587 shares in the company, valued at approximately $17,577,043.71. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Director Christopher William Patterson sold 14,225 shares of Modine Manufacturing stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $90.56, for a total transaction of $1,288,216.00. Following the transaction, the director now directly owns 97,517 shares in the company, valued at approximately $8,831,139.52. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Michael B. Lucareli sold 82,312 shares of Modine Manufacturing stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $90.33, for a total value of $7,435,242.96. Following the transaction, the chief financial officer now owns 194,587 shares in the company, valued at $17,577,043.71. The disclosure for this sale can be found here. Insiders have sold 113,336 shares of company stock valued at $10,330,115 in the last quarter. Corporate insiders own 2.86% of the company’s stock.

Analyst Ratings Changes

MOD has been the topic of several recent research reports. DA Davidson reissued a “buy” rating and issued a $90.00 price target on shares of Modine Manufacturing in a report on Tuesday, February 27th. B. Riley reissued a “buy” rating and issued a $98.00 price target (up previously from $88.00) on shares of Modine Manufacturing in a report on Tuesday, February 27th. StockNews.com downgraded Modine Manufacturing from a “buy” rating to a “hold” rating in a report on Wednesday, January 31st. Finally, Oppenheimer assumed coverage on Modine Manufacturing in a research note on Tuesday, March 19th. They set an “outperform” rating and a $105.00 target price on the stock. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $97.67.

Modine Manufacturing Stock Down 0.4 %

Shares of Modine Manufacturing stock opened at $90.36 on Wednesday. The business’s fifty day moving average price is $87.91 and its two-hundred day moving average price is $65.69. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.93 and a quick ratio of 1.21. The company has a market capitalization of $4.72 billion, a P/E ratio of 21.31, a PEG ratio of 0.70 and a beta of 2.29. Modine Manufacturing has a 1-year low of $19.41 and a 1-year high of $106.01.

Modine Manufacturing (NYSE:MOD) last announced its earnings results on Tuesday, January 30th. The auto parts company reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.17. The firm had revenue of $561.40 million for the quarter, compared to the consensus estimate of $594.84 million. Modine Manufacturing had a return on equity of 25.28% and a net margin of 9.31%. The firm’s revenue for the quarter was up .2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.48 EPS. As a group, research analysts forecast that Modine Manufacturing will post 3.27 EPS for the current year.

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.