Avantax Advisory Services Inc. Buys 1,930 Shares of Modine Manufacturing Company (NYSE:MOD)

Avantax Advisory Services Inc. increased its stake in shares of Modine Manufacturing Company (NYSE:MOD - Free Report) by 52.5% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,607 shares of the auto parts company's stock after buying an additional 1,930 shares during the period. Avantax Advisory Services Inc.'s holdings in Modine Manufacturing were worth $430,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in MOD. Royce & Associates LP grew its stake in Modine Manufacturing by 47.7% during the first quarter. Royce & Associates LP now owns 262,699 shares of the auto parts company's stock valued at $20,162,000 after acquiring an additional 84,847 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new position in Modine Manufacturing during the first quarter valued at approximately $1,292,000. GW&K Investment Management LLC grew its stake in Modine Manufacturing by 2.2% during the first quarter. GW&K Investment Management LLC now owns 147,677 shares of the auto parts company's stock valued at $11,334,000 after acquiring an additional 3,187 shares in the last quarter. IFP Advisors Inc grew its stake in Modine Manufacturing by 14.2% during the first quarter. IFP Advisors Inc now owns 911 shares of the auto parts company's stock valued at $70,000 after acquiring an additional 113 shares in the last quarter. Finally, Segall Bryant & Hamill LLC grew its stake in Modine Manufacturing by 12.5% during the first quarter. Segall Bryant & Hamill LLC now owns 210,522 shares of the auto parts company's stock valued at $16,158,000 after acquiring an additional 23,446 shares in the last quarter. Hedge funds and other institutional investors own 95.23% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on MOD. Wall Street Zen lowered shares of Modine Manufacturing from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. KeyCorp lifted their target price on shares of Modine Manufacturing from $125.00 to $150.00 and gave the company an "overweight" rating in a research report on Thursday, July 31st. Finally, Oppenheimer lifted their target price on shares of Modine Manufacturing from $121.00 to $122.00 and gave the company an "outperform" rating in a research report on Tuesday, July 1st.

Insiders Place Their Bets

In other Modine Manufacturing news, VP Brian Jon Agen sold 47,939 shares of the business's stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $110.50, for a total transaction of $5,297,259.50. Following the transaction, the vice president directly owned 90,015 shares of the company's stock, valued at approximately $9,946,657.50. The trade was a 34.75% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Michael B. Lucareli sold 80,661 shares of the company's stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $128.33, for a total transaction of $10,351,226.13. Following the completion of the sale, the executive vice president directly owned 66,920 shares in the company, valued at $8,587,843.60. This represents a 54.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 174,800 shares of company stock worth $21,991,034. Insiders own 2.48% of the company's stock.

Modine Manufacturing Trading Up 1.1%

Shares of MOD traded up $1.46 during mid-day trading on Friday, reaching $136.61. The company's stock had a trading volume of 680,544 shares, compared to its average volume of 1,449,437. The stock has a market cap of $7.17 billion, a PE ratio of 39.14, a P/E/G ratio of 0.86 and a beta of 2.12. The company has a current ratio of 2.06, a quick ratio of 1.28 and a debt-to-equity ratio of 0.47. Modine Manufacturing Company has a 52 week low of $64.79 and a 52 week high of $146.84. The company's fifty day moving average price is $102.86 and its two-hundred day moving average price is $93.73.

Modine Manufacturing (NYSE:MOD - Get Free Report) last issued its earnings results on Wednesday, July 30th. The auto parts company reported $1.06 EPS for the quarter, topping the consensus estimate of $0.93 by $0.13. Modine Manufacturing had a net margin of 7.21% and a return on equity of 23.90%. The company had revenue of $682.80 million for the quarter, compared to the consensus estimate of $653.80 million. During the same period in the previous year, the firm earned $1.04 earnings per share. The firm's revenue for the quarter was up 3.2% on a year-over-year basis. On average, analysts predict that Modine Manufacturing Company will post 3.88 earnings per share for the current fiscal year.

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.