3,050 Shares in Modine Manufacturing Company $MOD Bought by Alps Advisors Inc.

Alps Advisors Inc. bought a new stake in shares of Modine Manufacturing Company (NYSE:MOD) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 3,050 shares of the auto parts company’s stock, valued at approximately $434,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Portside Wealth Group LLC acquired a new stake in shares of Modine Manufacturing in the third quarter valued at about $438,000. Envestnet Asset Management Inc. increased its position in Modine Manufacturing by 17.1% in the 3rd quarter. Envestnet Asset Management Inc. now owns 95,520 shares of the auto parts company’s stock worth $13,579,000 after buying an additional 13,975 shares during the period. Ashton Thomas Private Wealth LLC lifted its holdings in shares of Modine Manufacturing by 39.1% during the third quarter. Ashton Thomas Private Wealth LLC now owns 3,176 shares of the auto parts company’s stock worth $452,000 after buying an additional 892 shares during the last quarter. Penserra Capital Management LLC bought a new stake in shares of Modine Manufacturing in the third quarter valued at approximately $237,000. Finally, Van Berkom & Associates Inc. acquired a new stake in shares of Modine Manufacturing in the third quarter worth $1,910,000. Institutional investors and hedge funds own 95.23% of the company’s stock.

Insider Transactions at Modine Manufacturing

In related news, Director Suresh V. Garimella sold 1,100 shares of the company’s stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $184.07, for a total transaction of $202,477.00. Following the sale, the director owned 79,856 shares in the company, valued at approximately $14,699,093.92. This represents a 1.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Neil David Brinker sold 31,871 shares of the firm’s stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $160.56, for a total value of $5,117,207.76. Following the completion of the transaction, the chief executive officer owned 238,312 shares of the company’s stock, valued at approximately $38,263,374.72. This represents a 11.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 34,071 shares of company stock valued at $5,484,685. Company insiders own 2.48% of the company’s stock.

Modine Manufacturing Price Performance

Shares of MOD stock opened at $216.35 on Friday. The firm’s 50 day moving average price is $154.45 and its two-hundred day moving average price is $149.17. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.28 and a current ratio of 2.19. Modine Manufacturing Company has a 52-week low of $64.79 and a 52-week high of $235.02. The stock has a market cap of $11.41 billion, a PE ratio of 120.19, a PEG ratio of 1.32 and a beta of 1.71.

Modine Manufacturing (NYSE:MOD) last announced its quarterly earnings results on Wednesday, February 4th. The auto parts company reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.20. Modine Manufacturing had a net margin of 3.40% and a return on equity of 22.99%. The company had revenue of $805.00 million during the quarter, compared to analyst estimates of $763.54 million. During the same quarter in the previous year, the business earned $0.92 EPS. The firm’s revenue was up 30.5% on a year-over-year basis. As a group, analysts forecast that Modine Manufacturing Company will post 3.88 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have commented on MOD. UBS Group initiated coverage on Modine Manufacturing in a research report on Thursday, November 20th. They issued a “buy” rating and a $173.00 price objective for the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Modine Manufacturing in a research report on Monday, December 29th. Oppenheimer lifted their price target on shares of Modine Manufacturing from $220.00 to $240.00 and gave the stock an “outperform” rating in a research note on Friday, February 6th. Wall Street Zen upgraded shares of Modine Manufacturing from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, Zacks Research raised shares of Modine Manufacturing from a “hold” rating to a “strong-buy” rating in a report on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, Modine Manufacturing presently has an average rating of “Buy” and a consensus price target of $213.25.

Modine Manufacturing Profile

Modine Manufacturing Company (NYSE:MOD) is a global provider of thermal management solutions serving automotive, commercial transportation, heavy-duty off-highway, industrial, HVAC and refrigeration markets. The company designs, manufactures, tests and markets a broad array of heat-transfer products that manage temperature and energy efficiency for engines, power electronics and building climate control systems.

Its product portfolio includes heat exchangers, condensers, radiators, evaporators, charge air coolers, fan systems and associated controls.