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

Hennion & Walsh Asset Management Inc. lifted its holdings in Modine Manufacturing (NYSE:MOD - Free Report) by 65.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,246 shares of the auto parts company's stock after buying an additional 2,862 shares during the quarter. Hennion & Walsh Asset Management Inc.'s holdings in Modine Manufacturing were worth $556,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of MOD. Wasatch Advisors LP increased its holdings in shares of Modine Manufacturing by 108.0% in the 4th quarter. Wasatch Advisors LP now owns 1,428,415 shares of the auto parts company's stock valued at $165,596,000 after purchasing an additional 741,667 shares in the last quarter. J. Goldman & Co LP purchased a new position in Modine Manufacturing in the fourth quarter valued at about $43,201,000. Norges Bank purchased a new position in Modine Manufacturing in the fourth quarter valued at about $31,590,000. T. Rowe Price Investment Management Inc. lifted its position in shares of Modine Manufacturing by 27.8% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,207,181 shares of the auto parts company's stock valued at $139,949,000 after acquiring an additional 262,936 shares during the period. Finally, Point72 Asset Management L.P. purchased a new stake in shares of Modine Manufacturing during the 4th quarter worth approximately $30,192,000. Hedge funds and other institutional investors own 95.23% of the company's stock.

Modine Manufacturing Price Performance

Shares of Modine Manufacturing stock traded up $2.11 during trading on Wednesday, hitting $94.04. 435,502 shares of the company were exchanged, compared to its average volume of 940,811. The firm has a 50 day moving average price of $86.97 and a 200 day moving average price of $100.23. The stock has a market capitalization of $4.93 billion, a price-to-earnings ratio of 31.52, a P/E/G ratio of 0.71 and a beta of 2.06. The company has a quick ratio of 1.18, a current ratio of 1.87 and a debt-to-equity ratio of 0.38. Modine Manufacturing has a fifty-two week low of $64.79 and a fifty-two week high of $146.84.

Modine Manufacturing (NYSE:MOD - Get Free Report) last announced its earnings results on Tuesday, May 20th. The auto parts company reported $1.12 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.16. Modine Manufacturing had a net margin of 6.31% and a return on equity of 24.25%. The firm had revenue of $647.20 million during the quarter, compared to the consensus estimate of $633.13 million. During the same quarter in the previous year, the company posted $0.77 EPS. The firm's revenue for the quarter was up 7.2% on a year-over-year basis. On average, equities analysts expect that Modine Manufacturing will post 3.88 earnings per share for the current fiscal year.

Modine Manufacturing announced that its board has approved a stock buyback program on Friday, March 7th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the auto parts company to repurchase up to 2.4% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on MOD shares. Oppenheimer raised their price objective on Modine Manufacturing from $114.00 to $121.00 and gave the company an "outperform" rating in a research note on Thursday, May 22nd. Wall Street Zen upgraded Modine Manufacturing from a "hold" rating to a "buy" rating in a research report on Saturday. Finally, DA Davidson reaffirmed a "buy" rating and set a $155.00 price target on shares of Modine Manufacturing in a research note on Monday, March 17th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $138.67.

Modine Manufacturing Company 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.