Commonwealth Equity Services LLC Purchases New Position in Modine Manufacturing (NYSE:MOD)

Commonwealth Equity Services LLC acquired a new position in Modine Manufacturing (NYSE:MODFree Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 6,579 shares of the auto parts company’s stock, valued at approximately $626,000.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in Modine Manufacturing by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 3,070,556 shares of the auto parts company’s stock worth $183,312,000 after purchasing an additional 13,663 shares during the last quarter. Capital International Investors increased its holdings in shares of Modine Manufacturing by 35.1% in the 4th quarter. Capital International Investors now owns 1,013,899 shares of the auto parts company’s stock worth $60,530,000 after buying an additional 263,614 shares during the last quarter. Hennessy Advisors Inc. raised its position in shares of Modine Manufacturing by 20.4% during the 1st quarter. Hennessy Advisors Inc. now owns 714,400 shares of the auto parts company’s stock valued at $68,004,000 after buying an additional 121,200 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of 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 during the last quarter. Finally, Reinhart Partners LLC. purchased a new position in Modine Manufacturing in the fourth quarter worth about $41,129,000. Institutional investors own 95.23% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on MOD shares. DA Davidson upped their price objective on Modine Manufacturing from $110.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, May 24th. B. Riley reissued a “buy” rating and issued a $125.00 price objective on shares of Modine Manufacturing in a research report on Thursday, June 27th. Finally, Oppenheimer lifted their price target on shares of Modine Manufacturing from $105.00 to $110.00 and gave the company an “outperform” rating in a research note on Thursday, May 23rd.

Read Our Latest Stock Analysis on Modine Manufacturing

Modine Manufacturing Stock Down 1.2 %

NYSE:MOD opened at $104.79 on Thursday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.64 and a quick ratio of 0.98. Modine Manufacturing has a 1-year low of $32.46 and a 1-year high of $110.00. The company has a 50-day moving average of $99.74 and a 200 day moving average of $86.81. The firm has a market cap of $5.49 billion, a PE ratio of 34.58, a price-to-earnings-growth ratio of 0.84 and a beta of 2.27.

Modine Manufacturing (NYSE:MODGet Free Report) last released its quarterly earnings data on Tuesday, May 21st. The auto parts company reported $0.77 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.02). The business had revenue of $603.50 million for the quarter, compared to the consensus estimate of $605.44 million. Modine Manufacturing had a net margin of 6.71% and a return on equity of 24.69%. Modine Manufacturing’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.67 earnings per share. As a group, research analysts anticipate that Modine Manufacturing will post 3.7 EPS for the current fiscal year.

Modine Manufacturing Profile

(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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