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

Raymond James & Associates reduced its stake in Modine Manufacturing (NYSE:MOD) by 36.9% in the fourth quarter, HoldingsChannel.com reports. The fund owned 24,571 shares of the auto parts company’s stock after selling 14,348 shares during the quarter. Raymond James & Associates’ holdings in Modine Manufacturing were worth $1,467,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Legato Capital Management LLC lifted its holdings in shares of Modine Manufacturing by 193.7% in the 4th quarter. Legato Capital Management LLC now owns 24,317 shares of the auto parts company’s stock worth $1,452,000 after purchasing an additional 16,037 shares during the last quarter. Vanguard Group Inc. lifted its stake in Modine Manufacturing by 3.2% in the third quarter. Vanguard Group Inc. now owns 3,056,893 shares of the auto parts company’s stock valued at $139,853,000 after buying an additional 95,255 shares during the last quarter. SG Capital Management LLC boosted its holdings in shares of Modine Manufacturing by 1,457.9% during the third quarter. SG Capital Management LLC now owns 208,659 shares of the auto parts company’s stock valued at $9,546,000 after acquiring an additional 195,265 shares during the period. Dana Investment Advisors Inc. bought a new position in shares of Modine Manufacturing during the third quarter worth about $1,268,000. Finally, Barclays PLC boosted its stake in Modine Manufacturing by 73.7% during the 3rd quarter. Barclays PLC now owns 43,116 shares of the auto parts company’s stock valued at $1,972,000 after purchasing an additional 18,295 shares during the period. 95.23% of the stock is owned by institutional investors.

Modine Manufacturing Stock Performance

MOD opened at $83.71 on Friday. The business has a 50 day moving average price of $88.50 and a two-hundred day moving average price of $65.95. 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 $4.37 billion, a price-to-earnings ratio of 19.74, a price-to-earnings-growth ratio of 0.69 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 quarterly earnings data 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. Modine Manufacturing had a return on equity of 25.28% and a net margin of 9.31%. The business had revenue of $561.40 million during the quarter, compared to analyst estimates of $594.84 million. During the same quarter in the prior year, the firm posted $0.48 earnings per share. The company’s revenue was up .2% on a year-over-year basis. Research analysts predict that Modine Manufacturing will post 3.27 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have weighed in on MOD. DA Davidson reaffirmed a “buy” rating and set a $90.00 target price on shares of Modine Manufacturing in a research note on Tuesday, February 27th. B. Riley reissued a “buy” rating and set a $98.00 price target (up from $88.00) on shares of Modine Manufacturing in a report on Tuesday, February 27th. Oppenheimer began coverage on shares of Modine Manufacturing in a report on Tuesday, March 19th. They issued an “outperform” rating and a $105.00 price objective for the company. Finally, StockNews.com cut shares of Modine Manufacturing from a “buy” rating to a “hold” rating in a research note on Wednesday, January 31st. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Modine Manufacturing currently has an average rating of “Moderate Buy” and a consensus target price of $97.67.

Insider Buying and Selling at Modine Manufacturing

In other news, VP Brian Jon Agen sold 16,799 shares of Modine Manufacturing stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $95.64, for a total value of $1,606,656.36. Following the transaction, the vice president now owns 102,409 shares of the company’s stock, valued at approximately $9,794,396.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, VP Brian Jon Agen sold 16,799 shares of the stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $95.64, for a total transaction of $1,606,656.36. Following the completion of the sale, the vice president now directly owns 102,409 shares of the company’s stock, valued at $9,794,396.76. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Christopher William Patterson sold 14,225 shares of the firm’s stock in a transaction that occurred 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 sale, the director now owns 97,517 shares of the company’s stock, valued at $8,831,139.52. The disclosure for this sale can be found here. In the last three months, insiders sold 113,336 shares of company stock valued at $10,330,115. 2.86% of the stock is owned by insiders.

Modine Manufacturing 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.