Modine Manufacturing (NYSE:MOD) Stock Holdings Lessened by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lessened its holdings in shares of Modine Manufacturing (NYSE:MOD) by 10.3% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 41,111 shares of the auto parts company’s stock after selling 4,719 shares during the period. Envestnet Asset Management Inc. owned 0.08% of Modine Manufacturing worth $4,119,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of MOD. Oppenheimer Asset Management Inc. acquired a new position in Modine Manufacturing in the second quarter valued at approximately $217,000. Thoroughbred Financial Services LLC boosted its position in Modine Manufacturing by 10.9% during the 2nd quarter. Thoroughbred Financial Services LLC now owns 50,086 shares of the auto parts company’s stock valued at $5,018,000 after purchasing an additional 4,942 shares during the period. DekaBank Deutsche Girozentrale bought a new position in Modine Manufacturing during the 2nd quarter worth $68,000. Oppenheimer & Co. Inc. increased its position in Modine Manufacturing by 399.1% in the second quarter. Oppenheimer & Co. Inc. now owns 24,530 shares of the auto parts company’s stock worth $2,458,000 after buying an additional 19,615 shares during the period. Finally, Nicholas Investment Partners LP lifted its stake in Modine Manufacturing by 1.0% in the second quarter. Nicholas Investment Partners LP now owns 82,092 shares of the auto parts company’s stock valued at $8,225,000 after buying an additional 787 shares during the last quarter. Institutional investors own 95.23% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. B. Riley upped their price target on shares of Modine Manufacturing from $125.00 to $140.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. DA Davidson upped their target price on shares of Modine Manufacturing from $140.00 to $155.00 and gave the stock a “buy” rating in a research report on Tuesday, September 24th. Oppenheimer restated an “outperform” rating and issued a $135.00 price target on shares of Modine Manufacturing in a research note on Thursday, September 12th. Finally, William Blair assumed coverage on Modine Manufacturing in a research report on Monday, July 29th. They set an “outperform” rating for the company. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $143.33.

Insider Buying and Selling at Modine Manufacturing

In related news, Director Marsha C. Williams sold 34,400 shares of Modine Manufacturing stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $109.74, for a total transaction of $3,775,056.00. Following the transaction, the director now directly owns 144,038 shares of the company’s stock, valued at $15,806,730.12. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 2.40% of the stock is currently owned by corporate insiders.

Modine Manufacturing Stock Performance

MOD stock opened at $127.54 on Wednesday. The company has a 50-day simple moving average of $111.69 and a 200 day simple moving average of $103.15. The company has a market capitalization of $6.68 billion, a P/E ratio of 42.09, a PEG ratio of 0.97 and a beta of 2.22. The company has a quick ratio of 1.11, a current ratio of 1.80 and a debt-to-equity ratio of 0.51. Modine Manufacturing has a fifty-two week low of $38.50 and a fifty-two week high of $138.99.

Modine Manufacturing (NYSE:MOD) last issued its quarterly earnings results on Tuesday, July 30th. The auto parts company reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.86 by $0.18. Modine Manufacturing had a net margin of 6.70% and a return on equity of 24.92%. The company had revenue of $661.50 million during the quarter, compared to analyst estimates of $633.55 million. During the same period in the prior year, the business posted $0.85 EPS. The business’s revenue for the quarter was up 6.3% compared to the same quarter last year. Sell-side analysts predict that Modine Manufacturing will post 3.85 earnings per share for the current fiscal year.

About Modine Manufacturing

Modine Manufacturing Company provides thermal management products and solutions in the United States, Italy, Hungary, China, the United Kingdom, and internationally. It operates through Climate Solutions and Performance Technologies segments. The company offers heat transfer coils, including heat recovery and round tube plate fin coils; gas-fired, hydronic, electric and oilfired unit heaters; roof-mounted direct- and indirect-fired makeup air units; duct furnaces; infrared units; perimeter heating products; single packaged unit ventilators; modular chillers; air handler and condensing units; ceiling cassettes; evaporator unit coolers, remote condensers, fluid coolers, gas coolers, and dry and brine coolers; and motor and generator cooling coils, transformer oil coolers, radiators, dryers, and industrial heat exchangers.