Janney Montgomery Scott LLC Has $766,000 Holdings in Modine Manufacturing Company (NYSE:MOD)

Janney Montgomery Scott LLC boosted its holdings in shares of Modine Manufacturing Company (NYSE:MOD - Free Report) by 159.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,976 shares of the auto parts company's stock after acquiring an additional 6,134 shares during the period. Janney Montgomery Scott LLC's holdings in Modine Manufacturing were worth $766,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Skandinaviska Enskilda Banken AB publ raised its holdings in shares of Modine Manufacturing by 567.6% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 227 shares of the auto parts company's stock worth $27,000 after acquiring an additional 193 shares during the period. GAMMA Investing LLC increased its holdings in Modine Manufacturing by 63.1% during the 1st quarter. GAMMA Investing LLC now owns 367 shares of the auto parts company's stock worth $28,000 after purchasing an additional 142 shares in the last quarter. Versant Capital Management Inc raised its stake in shares of Modine Manufacturing by 245.9% in the 1st quarter. Versant Capital Management Inc now owns 422 shares of the auto parts company's stock valued at $32,000 after purchasing an additional 300 shares during the period. Central Pacific Bank Trust Division bought a new stake in shares of Modine Manufacturing in the first quarter valued at about $46,000. Finally, Centaurus Financial Inc. acquired a new position in shares of Modine Manufacturing during the fourth quarter worth about $148,000. 95.23% of the stock is owned by institutional investors and hedge funds.

Modine Manufacturing Stock Up 4.2%

MOD traded up $4.15 during trading on Wednesday, reaching $102.15. 789,908 shares of the stock were exchanged, compared to its average volume of 944,263. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.15 and a current ratio of 1.78. The stock's 50 day moving average price is $93.62 and its two-hundred day moving average price is $96.32. Modine Manufacturing Company has a twelve month low of $64.79 and a twelve month high of $146.84. The stock has a market cap of $5.35 billion, a P/E ratio of 29.87, a price-to-earnings-growth ratio of 0.64 and a beta of 2.04.

Modine Manufacturing (NYSE:MOD - Get Free Report) last released its quarterly earnings data on Tuesday, May 20th. The auto parts company reported $1.12 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.16. Modine Manufacturing had a net margin of 7.12% and a return on equity of 25.31%. The company had revenue of $647.20 million for the quarter, compared to analyst estimates of $633.13 million. During the same period in the previous year, the business earned $0.77 EPS. Modine Manufacturing's revenue for the quarter was up 7.2% compared to the same quarter last year. Equities analysts expect that Modine Manufacturing Company will post 3.88 EPS for the current year.

Modine Manufacturing declared that its board has authorized a share repurchase program on Friday, March 7th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the auto parts company to repurchase up to 2.4% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

MOD has been the topic of a number of recent research reports. KeyCorp initiated coverage on Modine Manufacturing in a research report on Thursday, June 12th. They issued an "overweight" rating and a $125.00 target price on the stock. Wall Street Zen upgraded shares of Modine Manufacturing from a "hold" rating to a "buy" rating in a report on Saturday, June 7th. Oppenheimer boosted their price target on shares of Modine Manufacturing from $121.00 to $122.00 and gave the stock an "outperform" rating in a research report on Tuesday. Finally, DA Davidson restated a "buy" rating and issued a $155.00 price objective on shares of Modine Manufacturing in a report on Monday, March 17th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Modine Manufacturing presently has an average rating of "Buy" and an average target price of $135.50.

Modine Manufacturing 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.