Advisory Services Network LLC Invests $221,000 in Modine Manufacturing (NYSE:MOD)

Advisory Services Network LLC bought a new stake in shares of Modine Manufacturing (NYSE:MODFree Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 3,704 shares of the auto parts company’s stock, valued at approximately $221,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of MOD. Vanguard Group Inc. grew its position in 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 valued at $139,853,000 after acquiring an additional 95,255 shares in the last quarter. American Century Companies Inc. grew its position in Modine Manufacturing by 570.1% in the 3rd quarter. American Century Companies Inc. now owns 700,758 shares of the auto parts company’s stock valued at $32,060,000 after acquiring an additional 596,177 shares in the last quarter. Reinhart Partners LLC. acquired a new position in Modine Manufacturing in the 4th quarter valued at about $41,129,000. Northern Trust Corp grew its position in Modine Manufacturing by 1.2% in the 3rd quarter. Northern Trust Corp now owns 556,001 shares of the auto parts company’s stock valued at $25,437,000 after acquiring an additional 6,836 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. grew its position in Modine Manufacturing by 159.5% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 480,118 shares of the auto parts company’s stock valued at $21,965,000 after acquiring an additional 295,118 shares in the last quarter. 95.23% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Modine Manufacturing

In related news, VP Brian Jon Agen sold 16,799 shares of the company’s stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $95.64, for a total transaction of $1,606,656.36. Following the transaction, the vice president now owns 102,409 shares of the company’s stock, valued at $9,794,396.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 2.86% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on MOD. DA Davidson boosted their price objective on Modine Manufacturing from $110.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, May 24th. B. Riley restated a “buy” rating and set a $98.00 target price (up previously from $88.00) on shares of Modine Manufacturing in a research note on Tuesday, February 27th. Finally, Oppenheimer boosted their target price on Modine Manufacturing from $105.00 to $110.00 and gave the stock an “outperform” rating in a research note on Thursday, May 23rd. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $109.33.

View Our Latest Report on Modine Manufacturing

Modine Manufacturing Price Performance

Shares of NYSE MOD opened at $96.23 on Thursday. The company has a current ratio of 1.64, a quick ratio of 0.98 and a debt-to-equity ratio of 0.53. Modine Manufacturing has a twelve month low of $29.40 and a twelve month high of $109.53. The stock has a 50 day moving average of $96.49 and a two-hundred day moving average of $78.92. The stock has a market cap of $5.03 billion, a P/E ratio of 31.76, a P/E/G ratio of 0.80 and a beta of 2.26.

Modine Manufacturing (NYSE:MODGet Free Report) last issued its quarterly earnings data on Tuesday, May 21st. The auto parts company reported $0.77 earnings per share for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.02). Modine Manufacturing had a net margin of 6.71% and a return on equity of 24.69%. The firm had revenue of $603.50 million during the quarter, compared to analysts’ expectations of $605.44 million. During the same quarter in the prior year, the firm posted $0.67 EPS. Modine Manufacturing’s quarterly revenue was down 2.4% compared to the same quarter last year. On average, research analysts forecast that Modine Manufacturing will post 3.67 earnings per share for the current year.

About Modine Manufacturing

(Free Report)

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.

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Institutional Ownership by Quarter for Modine Manufacturing (NYSE:MOD)

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