Modine Manufacturing Company $MOD Shares Bought by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. lifted its holdings in shares of Modine Manufacturing Company (NYSE:MOD) by 12.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 48,189 shares of the auto parts company’s stock after buying an additional 5,319 shares during the period. Oppenheimer Asset Management Inc. owned about 0.09% of Modine Manufacturing worth $6,851,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Parkside Financial Bank & Trust grew its holdings in Modine Manufacturing by 17.6% during the third quarter. Parkside Financial Bank & Trust now owns 500 shares of the auto parts company’s stock worth $71,000 after acquiring an additional 75 shares during the period. Handelsbanken Fonder AB boosted its position in shares of Modine Manufacturing by 0.8% during the 2nd quarter. Handelsbanken Fonder AB now owns 13,100 shares of the auto parts company’s stock worth $1,290,000 after purchasing an additional 100 shares in the last quarter. BCS Private Wealth Management Inc. grew its stake in shares of Modine Manufacturing by 2.8% during the 3rd quarter. BCS Private Wealth Management Inc. now owns 4,525 shares of the auto parts company’s stock worth $643,000 after purchasing an additional 125 shares during the period. Vanguard Personalized Indexing Management LLC grew its stake in shares of Modine Manufacturing by 3.7% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 4,602 shares of the auto parts company’s stock worth $453,000 after purchasing an additional 165 shares during the period. Finally, Arizona State Retirement System increased its holdings in shares of Modine Manufacturing by 1.2% in the 3rd quarter. Arizona State Retirement System now owns 14,752 shares of the auto parts company’s stock valued at $2,097,000 after purchasing an additional 176 shares in the last quarter. 95.23% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Modine Manufacturing news, Director Suresh V. Garimella sold 1,100 shares of the company’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $184.07, for a total value of $202,477.00. Following the transaction, the director directly owned 79,856 shares in the company, valued at approximately $14,699,093.92. This represents a 1.36% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Neil David Brinker sold 31,871 shares of the firm’s stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $160.56, for a total transaction of $5,117,207.76. Following the sale, the chief executive officer directly owned 238,312 shares in the company, valued at $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. In the last ninety days, insiders have sold 34,071 shares of company stock worth $5,484,685. Corporate insiders own 2.48% of the company’s stock.

Wall Street Analysts Forecast Growth

MOD has been the topic of a number of research analyst reports. KeyCorp boosted their price objective on shares of Modine Manufacturing from $160.00 to $175.00 and gave the stock an “overweight” rating in a report on Tuesday, October 14th. DA Davidson increased their target price on shares of Modine Manufacturing from $255.00 to $265.00 and gave the company a “buy” rating in a report on Monday. Weiss Ratings reissued a “hold (c)” rating on shares of Modine Manufacturing in a research note on Monday, December 29th. Oppenheimer upped their price target on Modine Manufacturing from $220.00 to $240.00 and gave the stock an “outperform” rating in a report on Friday, February 6th. Finally, Zacks Research raised Modine Manufacturing from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 30th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, Modine Manufacturing has a consensus rating of “Buy” and a consensus target price of $213.25.

Modine Manufacturing Trading Up 0.4%

Shares of Modine Manufacturing stock opened at $220.06 on Wednesday. Modine Manufacturing Company has a 1 year low of $64.79 and a 1 year high of $224.70. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.19 and a quick ratio of 1.28. The business has a 50 day moving average price of $151.02 and a 200 day moving average price of $147.16. The company has a market capitalization of $11.60 billion, a P/E ratio of 122.26, a P/E/G ratio of 1.36 and a beta of 1.71.

Modine Manufacturing (NYSE:MOD) last announced its 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 for the quarter, compared to analysts’ expectations of $763.54 million. Modine Manufacturing had a return on equity of 22.99% and a net margin of 3.40%.Modine Manufacturing’s quarterly revenue was up 30.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.92 EPS. Sell-side analysts anticipate that Modine Manufacturing Company will post 3.88 EPS for the current fiscal year.

About Modine Manufacturing

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.