Modine Manufacturing (NYSE:MOD) Shares Acquired by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC lifted its position in Modine Manufacturing (NYSE:MOD) by 2.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,832 shares of the auto parts company’s stock after purchasing an additional 231 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Modine Manufacturing were worth $1,024,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Skandinaviska Enskilda Banken AB publ boosted its holdings in shares of Modine Manufacturing by 567.6% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 227 shares of the auto parts company’s stock valued at $27,000 after acquiring an additional 193 shares during the period. Principal Securities Inc. raised its position in Modine Manufacturing by 97.8% in the 4th quarter. Principal Securities Inc. now owns 544 shares of the auto parts company’s stock valued at $63,000 after purchasing an additional 269 shares during the last quarter. Centaurus Financial Inc. acquired a new stake in Modine Manufacturing during the 4th quarter worth $148,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Modine Manufacturing during the 4th quarter worth $172,000. Finally, Rothschild Investment LLC grew its position in Modine Manufacturing by 34.4% during the 4th quarter. Rothschild Investment LLC now owns 1,720 shares of the auto parts company’s stock worth $199,000 after purchasing an additional 440 shares during the last quarter. 95.23% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Wall Street Zen raised shares of Modine Manufacturing from a “hold” rating to a “buy” rating in a report on Saturday. DA Davidson reaffirmed a “buy” rating and set a $155.00 price objective on shares of Modine Manufacturing in a research note on Monday, March 17th. Finally, Oppenheimer increased their price objective on Modine Manufacturing from $114.00 to $121.00 and gave the stock an “outperform” rating in a research report on Thursday, May 22nd. Five research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $138.67.

Modine Manufacturing Stock Up 1.4%

Shares of Modine Manufacturing stock opened at $93.55 on Monday. Modine Manufacturing has a one year low of $64.79 and a one year high of $146.84. The company has a market cap of $4.90 billion, a P/E ratio of 31.39, a PEG ratio of 0.71 and a beta of 2.06. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.18 and a current ratio of 1.87. The firm has a fifty day moving average of $86.47 and a two-hundred day moving average of $100.65.

Modine Manufacturing (NYSE:MOD) last issued its quarterly earnings results on Tuesday, May 20th. The auto parts company reported $1.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.16. Modine Manufacturing had a net margin of 6.31% and a return on equity of 24.25%. The business had revenue of $647.20 million for the quarter, compared to analyst estimates of $633.13 million. During the same period in the previous year, the business posted $0.77 earnings per share. The business’s revenue was up 7.2% compared to the same quarter last year. On average, analysts forecast that Modine Manufacturing will post 3.88 earnings per share for the current year.

Modine Manufacturing declared that its Board of Directors has authorized a share buyback program on Friday, March 7th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the auto parts company to buy up to 2.4% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Modine Manufacturing Company Profile

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.