Modine Manufacturing Company (NYSE:MOD) Shares Acquired by D.A. Davidson & CO.

D.A. Davidson & CO. grew its stake in Modine Manufacturing Company (NYSE:MOD - Free Report) by 4.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 65,045 shares of the auto parts company's stock after buying an additional 2,479 shares during the period. D.A. Davidson & CO. owned 0.12% of Modine Manufacturing worth $4,992,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of MOD. Arizona State Retirement System raised its position in Modine Manufacturing by 0.8% in the 4th quarter. Arizona State Retirement System now owns 14,451 shares of the auto parts company's stock valued at $1,675,000 after purchasing an additional 118 shares during the last quarter. Envestnet Portfolio Solutions Inc. raised its position in Modine Manufacturing by 8.2% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 1,791 shares of the auto parts company's stock valued at $208,000 after purchasing an additional 136 shares during the last quarter. GAMMA Investing LLC raised its position in Modine Manufacturing by 63.1% in the 1st quarter. GAMMA Investing LLC now owns 367 shares of the auto parts company's stock valued at $28,000 after purchasing an additional 142 shares during the last quarter. Summit Investment Advisors Inc. raised its position in Modine Manufacturing by 2.8% in the 4th quarter. Summit Investment Advisors Inc. now owns 5,284 shares of the auto parts company's stock valued at $613,000 after purchasing an additional 146 shares during the last quarter. Finally, Signaturefd LLC raised its position in Modine Manufacturing by 6.0% in the 4th quarter. Signaturefd LLC now owns 2,786 shares of the auto parts company's stock valued at $323,000 after purchasing an additional 157 shares during the last quarter. Institutional investors and hedge funds own 95.23% of the company's stock.

Modine Manufacturing Stock Performance

NYSE:MOD opened at $104.47 on Friday. The company has a quick ratio of 1.15, a current ratio of 1.78 and a debt-to-equity ratio of 0.32. Modine Manufacturing Company has a fifty-two week low of $64.79 and a fifty-two week high of $146.84. The stock has a market cap of $5.47 billion, a PE ratio of 30.55, a price-to-earnings-growth ratio of 0.68 and a beta of 2.04. The firm's fifty day simple moving average is $95.09 and its 200-day simple moving average is $95.99.

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

Modine Manufacturing declared that its board has authorized a share buyback program on Friday, March 7th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the auto parts company to purchase up to 2.4% of its shares through open market purchases. Shares buyback programs are often an indication that the company's leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

MOD has been the subject of a number of analyst reports. KeyCorp initiated coverage on shares of Modine Manufacturing in a research report on Thursday, June 12th. They set an "overweight" rating and a $125.00 price objective for the company. Oppenheimer upped their price objective on shares of Modine Manufacturing from $121.00 to $122.00 and gave the stock an "outperform" rating in a research report on Tuesday. Wall Street Zen upgraded shares of Modine Manufacturing from a "hold" rating to a "buy" rating in a research report on Saturday, June 7th. Finally, 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. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Modine Manufacturing has a consensus rating of "Buy" and an average price target 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.

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