Modine Manufacturing Company $MOD Shares Sold by D.A. Davidson & CO.

D.A. Davidson & CO. cut its stake in Modine Manufacturing Company (NYSE:MOD) by 7.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 50,735 shares of the auto parts company’s stock after selling 4,066 shares during the quarter. D.A. Davidson & CO. owned approximately 0.10% of Modine Manufacturing worth $10,995,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Perigon Wealth Management LLC boosted its stake in shares of Modine Manufacturing by 583.1% in the fourth quarter. Perigon Wealth Management LLC now owns 15,171 shares of the auto parts company’s stock worth $2,025,000 after acquiring an additional 12,950 shares during the last quarter. Congress Asset Management Co. increased its position in shares of Modine Manufacturing by 7.8% during the fourth quarter. Congress Asset Management Co. now owns 568,853 shares of the auto parts company’s stock worth $75,948,000 after purchasing an additional 41,373 shares in the last quarter. Van Berkom & Associates Inc. raised its stake in Modine Manufacturing by 3,145.2% in the 4th quarter. Van Berkom & Associates Inc. now owns 436,084 shares of the auto parts company’s stock valued at $58,222,000 after purchasing an additional 422,646 shares during the last quarter. WT Asset Management Ltd acquired a new position in Modine Manufacturing in the 4th quarter valued at $69,255,000. Finally, Pier Capital LLC purchased a new position in Modine Manufacturing in the 4th quarter valued at $7,765,000. 95.23% of the stock is currently owned by institutional investors and hedge funds.

Modine Manufacturing Stock Down 2.7%

NYSE MOD opened at $225.78 on Friday. The business’s fifty day simple moving average is $266.76 and its 200-day simple moving average is $223.82. The company has a quick ratio of 1.25, a current ratio of 1.94 and a debt-to-equity ratio of 0.32. The firm has a market cap of $11.99 billion, a PE ratio of 100.79, a P/E/G ratio of 0.75 and a beta of 1.67. Modine Manufacturing Company has a 52 week low of $90.41 and a 52 week high of $323.25.

Modine Manufacturing (NYSE:MOD) last released its quarterly earnings data on Tuesday, May 26th. The auto parts company reported $1.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.51 by $0.20. Modine Manufacturing had a net margin of 3.82% and a return on equity of 24.39%. The firm had revenue of $954.40 million during the quarter, compared to analysts’ expectations of $920.67 million. During the same period last year, the business earned $1.12 earnings per share. Modine Manufacturing’s revenue was up 47.5% compared to the same quarter last year. As a group, equities analysts anticipate that Modine Manufacturing Company will post 7.72 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have issued reports on MOD. DA Davidson reaffirmed a “buy” rating and set a $330.00 target price on shares of Modine Manufacturing in a research note on Monday, June 22nd. KeyCorp increased their target price on shares of Modine Manufacturing from $250.00 to $370.00 and gave the company an “overweight” rating in a research report on Wednesday, May 27th. Glj Research reissued a “buy” rating and issued a $428.00 price target on shares of Modine Manufacturing in a research note on Monday, June 1st. UBS Group boosted their price target on shares of Modine Manufacturing to $310.00 and gave the stock a “buy” rating in a research report on Wednesday, May 27th. Finally, Zacks Research cut shares of Modine Manufacturing from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 13th. Seven investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, Modine Manufacturing currently has a consensus rating of “Moderate Buy” and an average target price of $327.14.

Insider Activity

In other news, Director Eric D. Ashleman sold 15,000 shares of the stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $288.54, for a total value of $4,328,100.00. Following the completion of the sale, the director owned 42,350 shares of the company’s stock, valued at $12,219,669. This represents a 26.16% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Brian Jon Agen sold 38,282 shares of the firm’s stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $295.17, for a total transaction of $11,299,697.94. Following the sale, the vice president owned 66,343 shares of the company’s stock, valued at $19,582,463.31. This represents a 36.59% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 54,302 shares of company stock valued at $15,928,759 in the last 90 days. Company insiders own 2.48% of the company’s stock.

Modine Manufacturing Profile

Modine Manufacturing Company (NYSE:MOD) is a global provider of thermal management solutions serving automotive, commercial transportation, heavy-duty off-highway, industrial, HVAC and refrigeration markets. The company designs, manufactures, tests and markets a broad array of heat-transfer products that manage temperature and energy efficiency for engines, power electronics and building climate control systems.

Its product portfolio includes heat exchangers, condensers, radiators, evaporators, charge air coolers, fan systems and associated controls.