Bank of Montreal Can Decreases Holdings in Modine Manufacturing (NYSE:MOD)

Bank of Montreal Can lowered its position in shares of Modine Manufacturing (NYSE:MOD) by 57.8% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,584 shares of the auto parts company’s stock after selling 4,903 shares during the period. Bank of Montreal Can’s holdings in Modine Manufacturing were worth $377,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in MOD. Vanguard Group Inc. boosted its stake in shares of Modine Manufacturing by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 3,070,556 shares of the auto parts company’s stock valued at $183,312,000 after buying an additional 13,663 shares during the last quarter. Banque Cantonale Vaudoise acquired a new position in Modine Manufacturing in the first quarter valued at approximately $101,000. Mountain Pacific Investment Advisers Inc. ID acquired a new position in Modine Manufacturing during the 1st quarter valued at approximately $1,904,000. Hennessy Advisors Inc. grew its position in shares of Modine Manufacturing by 20.4% during 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 last quarter. Finally, Oliver Luxxe Assets LLC bought a new stake in shares of Modine Manufacturing during the first quarter valued at approximately $2,775,000. Institutional investors and hedge funds own 95.23% of the company’s stock.

Modine Manufacturing Trading Down 2.3 %

Shares of NYSE MOD opened at $130.95 on Friday. The business has a 50 day simple moving average of $115.21 and a 200 day simple moving average of $104.60. Modine Manufacturing has a 52 week low of $38.50 and a 52 week high of $138.99. The stock has a market cap of $6.86 billion, a price-to-earnings ratio of 43.14, a PEG ratio of 0.97 and a beta of 2.22. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.11 and a current ratio of 1.80.

Modine Manufacturing (NYSE:MOD) last issued its quarterly earnings data on Tuesday, July 30th. The auto parts company reported $1.04 earnings per share 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 last year, the business earned $0.85 EPS. The firm’s revenue was up 6.3% compared to the same quarter last year. On average, research analysts predict that Modine Manufacturing will post 3.85 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Marsha C. Williams sold 34,400 shares of Modine Manufacturing 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 owns 144,038 shares of the company’s stock, valued at approximately $15,806,730.12. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.40% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. DA Davidson increased their price target on Modine Manufacturing from $140.00 to $155.00 and gave the stock a “buy” rating in a research note on Tuesday, September 24th. Oppenheimer restated an “outperform” rating and set a $135.00 price target on shares of Modine Manufacturing in a research report on Thursday, September 12th. B. Riley raised their price objective on shares of Modine Manufacturing from $125.00 to $140.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Finally, William Blair initiated coverage on Modine Manufacturing in a research note on Monday, July 29th. They set an “outperform” rating for the company. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price 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.