Hennion & Walsh Asset Management Inc. Grows Position in Modine Manufacturing Company $MOD

Hennion & Walsh Asset Management Inc. raised its position in shares of Modine Manufacturing Company (NYSE:MOD) by 18.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,900 shares of the auto parts company’s stock after acquiring an additional 2,684 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Modine Manufacturing were worth $2,256,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Parkside Financial Bank & Trust increased its position in Modine Manufacturing by 17.6% in the third quarter. Parkside Financial Bank & Trust now owns 500 shares of the auto parts company’s stock worth $71,000 after purchasing an additional 75 shares during the last quarter. Intrust Bank NA lifted its position in Modine Manufacturing by 2.3% during the third quarter. Intrust Bank NA now owns 4,919 shares of the auto parts company’s stock valued at $699,000 after purchasing an additional 109 shares during the last quarter. BCS Private Wealth Management Inc. lifted its position in Modine Manufacturing by 2.8% during the third quarter. BCS Private Wealth Management Inc. now owns 4,525 shares of the auto parts company’s stock valued at $643,000 after purchasing an additional 125 shares during the last quarter. Arizona State Retirement System grew its stake in shares of Modine Manufacturing by 1.2% in the 3rd quarter. Arizona State Retirement System now owns 14,752 shares of the auto parts company’s stock worth $2,097,000 after buying an additional 176 shares in the last quarter. Finally, Xponance Inc. grew its stake in shares of Modine Manufacturing by 4.3% in the 3rd quarter. Xponance Inc. now owns 4,349 shares of the auto parts company’s stock worth $618,000 after buying an additional 179 shares in the last quarter. 95.23% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on MOD shares. Roth Mkm started coverage on shares of Modine Manufacturing in a research report on Wednesday, February 18th. They set a “buy” rating and a $263.00 target price on the stock. Glj Research started coverage on Modine Manufacturing in a research report on Monday. They issued a “buy” rating and a $290.00 price target for the company. DA Davidson reissued a “buy” rating and set a $265.00 price objective on shares of Modine Manufacturing in a research note on Tuesday. Weiss Ratings restated a “hold (c)” rating on shares of Modine Manufacturing in a research report on Monday, December 29th. Finally, Wall Street Zen lowered Modine Manufacturing from a “buy” rating to a “hold” rating in a research note on Sunday, February 22nd. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Modine Manufacturing has a consensus rating of “Buy” and an average price target of $234.33.

Insider Buying and Selling

In related news, Director Suresh V. Garimella sold 1,100 shares of Modine Manufacturing stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $184.07, for a total transaction of $202,477.00. Following the completion of the sale, the director owned 79,856 shares in the company, valued at $14,699,093.92. This trade represents a 1.36% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 2.48% of the stock is owned by corporate insiders.

Modine Manufacturing Price Performance

MOD opened at $222.75 on Thursday. The business has a fifty day moving average of $204.33 and a 200 day moving average of $166.37. The stock has a market cap of $11.75 billion, a P/E ratio of 123.75, a PEG ratio of 1.32 and a beta of 1.68. The company has a quick ratio of 1.28, a current ratio of 2.19 and a debt-to-equity ratio of 0.51. Modine Manufacturing Company has a 52-week low of $64.79 and a 52-week high of $243.80.

Modine Manufacturing (NYSE:MOD) last released its earnings results on Wednesday, February 4th. The auto parts company reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.20. The business had revenue of $805.00 million for the quarter, compared to analyst estimates of $763.54 million. Modine Manufacturing had a return on equity of 22.99% and a net margin of 3.40%.The business’s revenue was up 30.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.92 earnings per share. As a group, sell-side analysts anticipate that Modine Manufacturing Company will post 3.88 EPS for the current year.

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.