Hennion & Walsh Asset Management Inc. Takes Position in Modine Manufacturing (NYSE:MOD)

Hennion & Walsh Asset Management Inc. purchased a new position in shares of Modine Manufacturing (NYSE:MOD) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 2,019 shares of the auto parts company’s stock, valued at approximately $268,000.

Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in Modine Manufacturing by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 3,070,556 shares of the auto parts company’s stock worth $183,312,000 after purchasing an additional 13,663 shares during the period. Commonwealth Equity Services LLC purchased a new stake in shares of Modine Manufacturing during the 1st quarter valued at approximately $626,000. BNP Paribas Financial Markets boosted its holdings in Modine Manufacturing by 9.2% in the 1st quarter. BNP Paribas Financial Markets now owns 34,995 shares of the auto parts company’s stock worth $3,331,000 after buying an additional 2,951 shares during the period. Janney Montgomery Scott LLC purchased a new position in Modine Manufacturing in the 1st quarter valued at approximately $833,000. Finally, Nordea Investment Management AB raised its holdings in Modine Manufacturing by 0.4% during the 1st quarter. Nordea Investment Management AB now owns 82,126 shares of the auto parts company’s stock valued at $7,879,000 after acquiring an additional 338 shares during the period. Hedge funds and other institutional investors own 95.23% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on MOD shares. Oppenheimer raised their price target on Modine Manufacturing from $135.00 to $144.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. B. Riley lifted their target price on Modine Manufacturing from $125.00 to $140.00 and gave the company a “buy” rating in a report on Thursday, August 1st. William Blair started coverage on shares of Modine Manufacturing in a report on Monday, July 29th. They issued an “outperform” rating on the stock. Finally, DA Davidson boosted their price objective 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. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Modine Manufacturing presently has a consensus rating of “Moderate Buy” and a consensus target price of $146.33.

Modine Manufacturing Price Performance

Shares of NYSE MOD opened at $130.31 on Wednesday. The stock’s 50-day simple moving average is $122.75 and its two-hundred day simple moving average is $108.24. Modine Manufacturing has a twelve month low of $38.61 and a twelve month high of $141.72. The firm has a market capitalization of $6.83 billion, a P/E ratio of 43.01, a P/E/G ratio of 0.98 and a beta of 2.22. The company has a quick ratio of 1.11, a current ratio of 1.80 and a debt-to-equity ratio of 0.51.

Modine Manufacturing (NYSE:MOD) last posted its quarterly earnings data on Tuesday, July 30th. The auto parts company reported $1.04 earnings per share for the quarter, topping the consensus estimate of $0.86 by $0.18. Modine Manufacturing had a net margin of 6.70% and a return on equity of 24.92%. The company had revenue of $661.50 million for the quarter, compared to analysts’ expectations of $633.55 million. During the same period in the prior year, the business earned $0.85 earnings per share. Modine Manufacturing’s revenue for the quarter was up 6.3% compared to the same quarter last year. As a group, equities analysts anticipate that Modine Manufacturing will post 3.86 EPS for the current fiscal year.

Insider Transactions at Modine Manufacturing

In other news, Director Marsha C. Williams sold 34,400 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were 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 in the company, valued at approximately $15,806,730.12. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 2.40% of the company’s stock.

Modine Manufacturing 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.