D.A. Davidson & CO. Sells 3,401 Shares of Modine Manufacturing Company $MOD

D.A. Davidson & CO. lessened its stake in Modine Manufacturing Company (NYSE:MOD) by 5.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 54,801 shares of the auto parts company’s stock after selling 3,401 shares during the quarter. D.A. Davidson & CO. owned approximately 0.10% of Modine Manufacturing worth $7,316,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Spire Wealth Management bought a new stake in shares of Modine Manufacturing in the 4th quarter worth approximately $27,000. First Horizon Corp bought a new stake in shares of Modine Manufacturing in the 3rd quarter worth approximately $38,000. Sunbelt Securities Inc. bought a new stake in shares of Modine Manufacturing in the 3rd quarter worth approximately $39,000. Danske Bank A S bought a new stake in shares of Modine Manufacturing in the 3rd quarter worth approximately $43,000. Finally, AdvisorShares Investments LLC grew its stake in Modine Manufacturing by 154.0% in the 3rd quarter. AdvisorShares Investments LLC now owns 475 shares of the auto parts company’s stock valued at $68,000 after buying an additional 288 shares in the last quarter. Institutional investors own 95.23% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on MOD. Zacks Research lowered shares of Modine Manufacturing from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 13th. Glj Research began coverage on shares of Modine Manufacturing in a research note on Monday, March 30th. They issued a “buy” rating and a $290.00 price objective for the company. DA Davidson reiterated a “buy” rating and issued a $265.00 price objective on shares of Modine Manufacturing in a research note on Tuesday, March 31st. Wall Street Zen lowered shares of Modine Manufacturing from a “buy” rating to a “hold” rating in a research note on Sunday, February 22nd. Finally, Oppenheimer lifted their price objective on shares of Modine Manufacturing from $220.00 to $240.00 and gave the company an “outperform” rating in a research note on Friday, February 6th. Six research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, Modine Manufacturing has a consensus rating of “Moderate Buy” and an average price target of $234.33.

Modine Manufacturing Stock Down 3.1%

Modine Manufacturing stock opened at $237.33 on Wednesday. The firm has a 50 day simple moving average of $222.53 and a 200 day simple moving average of $178.68. The firm has a market capitalization of $12.51 billion, a price-to-earnings ratio of 131.85, a P/E/G ratio of 1.00 and a beta of 1.68. The company has a current ratio of 2.19, a quick ratio of 1.28 and a debt-to-equity ratio of 0.51. Modine Manufacturing Company has a 1-year low of $77.29 and a 1-year high of $260.01.

Modine Manufacturing (NYSE:MOD) last released its quarterly earnings results on Wednesday, February 4th. The auto parts company reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.20. The firm had revenue of $805.00 million during the quarter, compared to analyst estimates of $763.54 million. Modine Manufacturing had a net margin of 3.40% and a return on equity of 22.99%. The business’s revenue for the quarter was up 30.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.92 EPS. On average, analysts predict that Modine Manufacturing Company will post 4.82 earnings per share for the current year.

Insider Activity at Modine Manufacturing

In other news, Director Suresh V. Garimella sold 1,100 shares of the business’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $184.07, for a total transaction of $202,477.00. Following the completion of the transaction, the director directly owned 79,856 shares in the company, valued at $14,699,093.92. The trade was a 1.36% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.48% of the stock is owned by company insiders.

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.