Modine Manufacturing (NYSE:MOD) Shares Bought by Cetera Investment Advisers

Cetera Investment Advisers boosted its stake in shares of Modine Manufacturing (NYSE:MOD) by 33.2% during the 2nd quarter, Holdings Channel.com reports. The firm owned 25,856 shares of the auto parts company’s stock after purchasing an additional 6,451 shares during the quarter. Cetera Investment Advisers’ holdings in Modine Manufacturing were worth $2,591,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of 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 worth $183,312,000 after acquiring an additional 13,663 shares in the last quarter. Banque Cantonale Vaudoise purchased a new stake in shares of Modine Manufacturing during the 1st quarter worth about $101,000. Mountain Pacific Investment Advisers Inc. ID purchased a new stake in shares of Modine Manufacturing during the 1st quarter worth about $1,904,000. Hennessy Advisors Inc. boosted its stake in shares of Modine Manufacturing by 20.4% during the 1st 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 in the last quarter. Finally, Oliver Luxxe Assets LLC purchased a new stake in shares of Modine Manufacturing during the 1st quarter worth about $2,775,000. 95.23% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Oppenheimer reissued an “outperform” rating and set a $135.00 target price on shares of Modine Manufacturing in a research note on Thursday, September 12th. William Blair initiated coverage on shares of Modine Manufacturing in a research note on Monday, July 29th. They issued an “outperform” rating on the stock. DA Davidson raised their price target on shares of Modine Manufacturing from $140.00 to $155.00 and gave the company a “buy” rating in a research note on Tuesday, September 24th. Finally, B. Riley raised their price target 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. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $143.33.

Modine Manufacturing Trading Up 2.5 %

Shares of Modine Manufacturing stock opened at $134.20 on Friday. The company has a current ratio of 1.80, a quick ratio of 1.11 and a debt-to-equity ratio of 0.51. The firm’s 50-day moving average price is $115.59 and its 200 day moving average price is $104.78. Modine Manufacturing has a twelve month low of $38.50 and a twelve month high of $138.99. The firm has a market capitalization of $7.03 billion, a PE ratio of 44.29, a P/E/G ratio of 1.02 and a beta of 2.22.

Modine Manufacturing (NYSE:MOD) last released its earnings results on Tuesday, July 30th. The auto parts company reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.86 by $0.18. Modine Manufacturing had a net margin of 6.70% and a return on equity of 24.92%. The business had revenue of $661.50 million for the quarter, compared to analyst estimates of $633.55 million. During the same period last year, the company posted $0.85 EPS. The business’s revenue was up 6.3% on a year-over-year basis. On average, sell-side analysts predict that Modine Manufacturing will post 3.86 EPS for the current fiscal year.

Insiders Place Their Bets

In other Modine Manufacturing news, Director Marsha C. Williams sold 34,400 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $109.74, for a total value of $3,775,056.00. Following the transaction, the director now directly owns 144,038 shares of the company’s stock, valued at $15,806,730.12. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 2.40% of the company’s stock.

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.