Wealth Enhancement Advisory Services LLC Boosts Holdings in Modine Manufacturing (NYSE:MOD)

Wealth Enhancement Advisory Services LLC lifted its position in shares of Modine Manufacturing (NYSE:MOD) by 6.8% in the second quarter, Holdings Channel reports. The firm owned 8,122 shares of the auto parts company’s stock after purchasing an additional 514 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Modine Manufacturing were worth $814,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of MOD. Strs Ohio grew its holdings in shares of Modine Manufacturing by 28.6% during the 4th quarter. Strs Ohio now owns 3,600 shares of the auto parts company’s stock worth $214,000 after purchasing an additional 800 shares during the period. Mackenzie Financial Corp purchased a new stake in shares of Modine Manufacturing during the 4th quarter worth about $261,000. Handelsbanken Fonder AB purchased a new stake in shares of Modine Manufacturing during the 4th quarter worth about $782,000. Jennison Associates LLC grew its holdings in shares of Modine Manufacturing by 3.3% during the 4th quarter. Jennison Associates LLC now owns 15,233 shares of the auto parts company’s stock worth $909,000 after purchasing an additional 493 shares during the period. Finally, New York State Common Retirement Fund lifted its position in Modine Manufacturing by 21.3% during the 4th quarter. New York State Common Retirement Fund now owns 59,992 shares of the auto parts company’s stock worth $3,582,000 after acquiring an additional 10,545 shares in the last quarter. Hedge funds and other institutional investors own 95.23% of the company’s stock.

Insider Activity

In other news, Director Marsha C. Williams sold 34,400 shares of the business’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 value of $3,775,056.00. Following the completion of the sale, the director now directly owns 144,038 shares in the company, valued at approximately $15,806,730.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 2.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on MOD. Oppenheimer boosted their price target on Modine Manufacturing from $114.00 to $135.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. B. Riley boosted their price target on Modine Manufacturing from $125.00 to $140.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. DA Davidson boosted their price target on Modine Manufacturing from $120.00 to $140.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Finally, William Blair assumed coverage on Modine Manufacturing in a research report on Monday, July 29th. They set an “outperform” rating on the stock. One equities 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, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $138.33.

Modine Manufacturing Stock Performance

Shares of MOD opened at $111.99 on Thursday. The business’s 50 day moving average is $103.71 and its two-hundred day moving average is $95.78. Modine Manufacturing has a 52-week low of $38.50 and a 52-week high of $123.92. The firm has a market cap of $5.87 billion, a price-to-earnings ratio of 36.96, a PEG ratio of 0.86 and a beta of 2.27. The company has a quick ratio of 0.98, a current ratio of 1.80 and a debt-to-equity ratio of 0.51.

Modine Manufacturing (NYSE:MOD) last announced its earnings results 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 company had revenue of $661.50 million for the quarter, compared to analyst estimates of $633.55 million. During the same period in the prior year, the company posted $0.85 EPS. Modine Manufacturing’s quarterly revenue was up 6.3% on a year-over-year basis. Analysts forecast that Modine Manufacturing will post 3.81 EPS for the current fiscal year.

Modine Manufacturing 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.