Dana Investment Advisors Inc. Sells 1,212 Shares of Modine Manufacturing (NYSE:MOD)

Dana Investment Advisors Inc. decreased its holdings in Modine Manufacturing (NYSE:MOD) by 5.9% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,179 shares of the auto parts company’s stock after selling 1,212 shares during the period. Dana Investment Advisors Inc.’s holdings in Modine Manufacturing were worth $1,922,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. SG Americas Securities LLC boosted its stake in shares of Modine Manufacturing by 311.1% in the second quarter. SG Americas Securities LLC now owns 32,128 shares of the auto parts company’s stock worth $3,219,000 after acquiring an additional 24,312 shares during the period. Hennessy Advisors Inc. boosted its stake in shares of Modine Manufacturing by 20.4% in the first quarter. Hennessy Advisors Inc. now owns 714,400 shares of the auto parts company’s stock worth $68,004,000 after acquiring an additional 121,200 shares during the period. Fred Alger Management LLC boosted its stake in shares of Modine Manufacturing by 5.1% in the second quarter. Fred Alger Management LLC now owns 369,840 shares of the auto parts company’s stock worth $37,054,000 after acquiring an additional 17,889 shares during the period. Janney Montgomery Scott LLC bought a new position in shares of Modine Manufacturing in the first quarter worth about $833,000. Finally, State Board of Administration of Florida Retirement System boosted its stake in Modine Manufacturing by 327.8% during the first quarter. State Board of Administration of Florida Retirement System now owns 62,841 shares of the auto parts company’s stock valued at $5,982,000 after buying an additional 48,150 shares during the last quarter. Institutional investors own 95.23% of the company’s stock.

Modine Manufacturing Trading Up 3.4 %

Shares of MOD stock opened at $131.84 on Thursday. Modine Manufacturing has a 1 year low of $38.50 and a 1 year high of $138.99. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.80 and a quick ratio of 1.11. The stock’s 50 day simple moving average is $112.35 and its two-hundred day simple moving average is $103.35. The company has a market cap of $6.91 billion, a PE ratio of 43.51, a price-to-earnings-growth ratio of 0.97 and a beta of 2.22.

Modine Manufacturing (NYSE:MOD) last issued its quarterly earnings data on Tuesday, July 30th. The auto parts company reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.86 by $0.18. Modine Manufacturing had a return on equity of 24.92% and a net margin of 6.70%. The business had revenue of $661.50 million for the quarter, compared to the consensus estimate of $633.55 million. During the same period in the prior year, the business posted $0.85 earnings per share. The company’s quarterly revenue was up 6.3% compared to the same quarter last year. Research analysts predict that Modine Manufacturing will post 3.85 earnings per share for the current year.

Insider Buying and Selling at Modine Manufacturing

In other Modine Manufacturing news, Director Marsha C. Williams sold 34,400 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $109.74, for a total transaction of $3,775,056.00. Following the sale, the director now directly owns 144,038 shares in the company, valued at $15,806,730.12. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 2.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on MOD. Oppenheimer reissued an “outperform” rating and set a $135.00 price target on shares of Modine Manufacturing in a research note on Thursday, September 12th. William Blair began coverage on Modine Manufacturing in a research note on Monday, July 29th. They set an “outperform” rating for the company. B. Riley increased their price target on Modine Manufacturing from $125.00 to $140.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Finally, DA Davidson increased their price target on Modine Manufacturing from $140.00 to $155.00 and gave the company a “buy” rating in a research note on Tuesday, September 24th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $143.33.

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.