Modine Manufacturing (NYSE:MOD) Position Boosted by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC raised its holdings in shares of Modine Manufacturing (NYSE:MOD) by 51.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,172 shares of the auto parts company’s stock after acquiring an additional 400 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Modine Manufacturing were worth $70,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Stratos Wealth Partners LTD. grew its stake in shares of Modine Manufacturing by 150.4% in the 4th quarter. Stratos Wealth Partners LTD. now owns 45,154 shares of the auto parts company’s stock valued at $2,696,000 after buying an additional 27,119 shares in the last quarter. Welch Group LLC bought a new stake in shares of Modine Manufacturing in the 4th quarter valued at approximately $209,000. Assenagon Asset Management S.A. bought a new stake in shares of Modine Manufacturing in the 4th quarter valued at approximately $1,532,000. Reinhart Partners LLC. bought a new stake in shares of Modine Manufacturing in the 4th quarter valued at approximately $41,129,000. Finally, Raymond James Financial Services Advisors Inc. grew its stake in shares of Modine Manufacturing by 107.4% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 11,732 shares of the auto parts company’s stock valued at $700,000 after buying an additional 6,075 shares in the last quarter. Hedge funds and other institutional investors own 95.23% of the company’s stock.

Modine Manufacturing Stock Down 0.1 %

MOD opened at $83.69 on Monday. The business has a 50 day moving average price of $88.71 and a 200 day moving average price of $66.52. Modine Manufacturing has a twelve month low of $19.41 and a twelve month high of $106.01. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.21 and a current ratio of 1.93. The firm has a market cap of $4.37 billion, a P/E ratio of 19.74, a price-to-earnings-growth ratio of 0.64 and a beta of 2.29.

Modine Manufacturing (NYSE:MOD) last posted its earnings results on Tuesday, January 30th. The auto parts company reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.17. Modine Manufacturing had a return on equity of 25.28% and a net margin of 9.31%. The firm had revenue of $561.40 million during the quarter, compared to analyst estimates of $594.84 million. During the same period in the previous year, the company earned $0.48 EPS. The company’s revenue for the quarter was up .2% on a year-over-year basis. Research analysts forecast that Modine Manufacturing will post 3.27 EPS for the current year.

Analysts Set New Price Targets

Several brokerages recently commented on MOD. StockNews.com cut Modine Manufacturing from a “buy” rating to a “hold” rating in a research note on Wednesday, January 31st. Oppenheimer started coverage on Modine Manufacturing in a research note on Tuesday, March 19th. They issued an “outperform” rating and a $105.00 price target for the company. B. Riley restated a “buy” rating and issued a $98.00 target price (up from $88.00) on shares of Modine Manufacturing in a report on Tuesday, February 27th. Finally, DA Davidson restated a “buy” rating and issued a $90.00 target price on shares of Modine Manufacturing in a report on Tuesday, February 27th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, Modine Manufacturing presently has an average rating of “Moderate Buy” and a consensus price target of $97.67.

Insider Transactions at Modine Manufacturing

In other news, CFO Michael B. Lucareli sold 82,312 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $90.33, for a total transaction of $7,435,242.96. Following the completion of the transaction, the chief financial officer now directly owns 194,587 shares in the company, valued at $17,577,043.71. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, VP Brian Jon Agen sold 16,799 shares of the company’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $95.64, for a total transaction of $1,606,656.36. Following the completion of the transaction, the vice president now directly owns 102,409 shares in the company, valued at $9,794,396.76. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Michael B. Lucareli sold 82,312 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $90.33, for a total value of $7,435,242.96. Following the transaction, the chief financial officer now owns 194,587 shares of the company’s stock, valued at $17,577,043.71. The disclosure for this sale can be found here. Insiders sold a total of 113,336 shares of company stock worth $10,330,115 over the last three months. 2.86% of the stock is currently owned by insiders.

Modine Manufacturing Company Profile

Modine Manufacturing Company provides engineered heat transfer systems and heat transfer components for use in on- and off-highway original equipment manufacturer (OEM) vehicular applications. It operates through Climate Solutions and Performance Technologies segments. The company offers gas-fired, hydronic, electric, and oil-fired unit heaters; indoor and outdoor duct furnaces; infrared units; perimeter heating products, such as commercial fin-tube radiation, cabinet unit heaters, and convectors; roof-mounted direct- and indirect-fired makeup air units; unit ventilators; single packaged vertical units; precision air conditioning units for data center applications; air handler units; fan walls; chillers; ceiling cassettes; hybrid fan coils; and condensers and condensing units.