D.A. Davidson & CO. Buys 2,479 Shares of Modine Manufacturing Company (NYSE:MOD)

D.A. Davidson & CO. increased its stake in shares of Modine Manufacturing Company (NYSE:MOD - Free Report) by 4.0% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 65,045 shares of the auto parts company's stock after acquiring an additional 2,479 shares during the quarter. D.A. Davidson & CO. owned about 0.12% of Modine Manufacturing worth $4,992,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Skandinaviska Enskilda Banken AB publ boosted its stake in 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 valued at $27,000 after buying an additional 193 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of 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 acquiring an additional 142 shares in the last quarter. Versant Capital Management Inc boosted its position in shares of Modine Manufacturing by 245.9% during the 1st quarter. Versant Capital Management Inc now owns 422 shares of the auto parts company's stock valued at $32,000 after acquiring an additional 300 shares during the last quarter. Central Pacific Bank Trust Division purchased a new position in shares of Modine Manufacturing in the first quarter valued at $46,000. Finally, First Horizon Advisors Inc. increased its position in Modine Manufacturing by 442.4% in the first quarter. First Horizon Advisors Inc. now owns 640 shares of the auto parts company's stock worth $49,000 after purchasing an additional 522 shares during the last quarter. 95.23% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Wall Street Zen upgraded shares of Modine Manufacturing from a "hold" rating to a "buy" rating in a research report on Saturday, June 7th. KeyCorp started coverage on Modine Manufacturing in a research report on Thursday, June 12th. They issued an "overweight" rating and a $125.00 price target for the company. DA Davidson restated a "buy" rating and set a $155.00 price objective on shares of Modine Manufacturing in a research report on Monday, March 17th. Finally, Oppenheimer lifted their target price on Modine Manufacturing from $121.00 to $122.00 and gave the stock an "outperform" rating in a report on Tuesday, July 1st. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $135.50.

Modine Manufacturing Trading Down 0.8%

Shares of MOD stock traded down $0.78 during trading hours on Tuesday, reaching $99.12. 1,004,521 shares of the stock were exchanged, compared to its average volume of 947,672. The firm has a market capitalization of $5.19 billion, a price-to-earnings ratio of 28.98, a price-to-earnings-growth ratio of 0.65 and a beta of 2.04. Modine Manufacturing Company has a 12-month low of $64.79 and a 12-month high of $146.84. The company's 50-day moving average price is $95.83 and its 200-day moving average price is $95.58. The company has a current ratio of 1.78, a quick ratio of 1.15 and a debt-to-equity ratio of 0.32.

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 (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.16. Modine Manufacturing had a return on equity of 25.31% and a net margin of 7.12%. The business had revenue of $647.20 million during the quarter, compared to analyst estimates of $633.13 million. During the same quarter in the previous year, the business earned $0.77 earnings per share. The company's revenue for the quarter was up 7.2% compared to the same quarter last year. As a group, equities analysts anticipate that Modine Manufacturing Company will post 3.88 earnings per share for the current year.

About Modine Manufacturing

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.