Hennion & Walsh Asset Management Inc. Has $2.02 Million Position in Modine Manufacturing Company $MOD

Hennion & Walsh Asset Management Inc. lifted its stake in Modine Manufacturing Company (NYSE:MOD) by 44.8% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 14,216 shares of the auto parts company’s stock after acquiring an additional 4,398 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Modine Manufacturing were worth $2,021,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in MOD. Handelsbanken Fonder AB raised its holdings in Modine Manufacturing by 0.8% in the 2nd quarter. Handelsbanken Fonder AB now owns 13,100 shares of the auto parts company’s stock valued at $1,290,000 after acquiring an additional 100 shares in the last quarter. Vanguard Personalized Indexing Management LLC increased its position in shares of Modine Manufacturing by 3.7% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 4,602 shares of the auto parts company’s stock valued at $453,000 after purchasing an additional 165 shares during the period. Signaturefd LLC raised its stake in shares of Modine Manufacturing by 6.9% in the third quarter. Signaturefd LLC now owns 2,850 shares of the auto parts company’s stock valued at $405,000 after purchasing an additional 184 shares in the last quarter. Ethic Inc. lifted its position in Modine Manufacturing by 5.8% in the second quarter. Ethic Inc. now owns 3,396 shares of the auto parts company’s stock worth $344,000 after purchasing an additional 185 shares during the period. Finally, GAMMA Investing LLC boosted its stake in Modine Manufacturing by 52.6% during the second quarter. GAMMA Investing LLC now owns 560 shares of the auto parts company’s stock worth $55,000 after buying an additional 193 shares in the last quarter. 95.23% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. KeyCorp increased their price objective on shares of Modine Manufacturing from $160.00 to $175.00 and gave the company an “overweight” rating in a research note on Tuesday, October 14th. DA Davidson reissued a “buy” rating and issued a $200.00 target price on shares of Modine Manufacturing in a research note on Wednesday, November 19th. Zacks Research cut shares of Modine Manufacturing from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 29th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Modine Manufacturing in a report on Monday, December 29th. Finally, UBS Group assumed coverage on Modine Manufacturing in a report on Thursday, November 20th. They issued a “buy” rating and a $173.00 target price for the company. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Modine Manufacturing has an average rating of “Moderate Buy” and a consensus price target of $182.00.

Modine Manufacturing Price Performance

NYSE:MOD opened at $120.14 on Friday. The firm has a market cap of $6.33 billion, a PE ratio of 34.72, a price-to-earnings-growth ratio of 0.76 and a beta of 1.70. The company’s 50-day moving average price is $144.58 and its two-hundred day moving average price is $136.16. The company has a quick ratio of 1.16, a current ratio of 2.00 and a debt-to-equity ratio of 0.50. Modine Manufacturing Company has a 12 month low of $64.79 and a 12 month high of $166.94.

Modine Manufacturing (NYSE:MOD) last posted its earnings results on Tuesday, October 28th. The auto parts company reported $1.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.09. The company had revenue of $738.90 million during the quarter, compared to analysts’ expectations of $699.91 million. Modine Manufacturing had a net margin of 6.93% and a return on equity of 23.19%. Modine Manufacturing’s quarterly revenue was up 12.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.97 earnings per share. On average, equities analysts anticipate that Modine Manufacturing Company will post 3.88 EPS for the current fiscal year.

Insider Buying and Selling

In other Modine Manufacturing news, CEO Neil David Brinker sold 31,871 shares of the business’s stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $160.56, for a total value of $5,117,207.76. Following the transaction, the chief executive officer owned 238,312 shares of the company’s stock, valued at approximately $38,263,374.72. The trade was a 11.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 2.48% of the company’s stock.

Modine Manufacturing Company 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.