Envestnet Asset Management Inc. Boosts Stake in Modine Manufacturing Company (NYSE:MOD)

Envestnet Asset Management Inc. raised its holdings in Modine Manufacturing Company (NYSE:MOD - Free Report) by 28.8% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 65,498 shares of the auto parts company's stock after acquiring an additional 14,664 shares during the quarter. Envestnet Asset Management Inc. owned about 0.12% of Modine Manufacturing worth $5,027,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Envestnet Portfolio Solutions Inc. increased its holdings 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 buying an additional 136 shares during the period. GAMMA Investing LLC boosted its stake 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 acquiring an additional 142 shares during the last quarter. Summit Investment Advisors Inc. increased its stake in Modine Manufacturing by 2.8% during the 4th quarter. Summit Investment Advisors Inc. now owns 5,284 shares of the auto parts company's stock worth $613,000 after purchasing an additional 146 shares in the last quarter. Bay Rivers Group grew its stake in shares of Modine Manufacturing by 3.4% in the first quarter. Bay Rivers Group now owns 6,308 shares of the auto parts company's stock valued at $484,000 after buying an additional 209 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its holdings in Modine Manufacturing by 2.7% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 8,832 shares of the auto parts company's stock valued at $1,024,000 after purchasing an additional 231 shares during the last quarter. Institutional investors own 95.23% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on MOD. Wall Street Zen raised Modine Manufacturing from a "hold" rating to a "buy" rating in a report on Saturday, June 7th. Oppenheimer boosted their price target on Modine Manufacturing from $121.00 to $122.00 and gave the company an "outperform" rating in a research note on Tuesday, July 1st. Finally, KeyCorp started coverage on Modine Manufacturing in a report on Thursday, June 12th. They set an "overweight" rating and a $125.00 price target for the company. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, Modine Manufacturing presently has a consensus rating of "Buy" and a consensus price target of $135.50.

Modine Manufacturing Stock Performance

MOD traded up $5.63 during midday trading on Friday, reaching $103.50. The company had a trading volume of 1,437,381 shares, compared to its average volume of 1,051,686. 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 1 year low of $64.79 and a 1 year high of $146.84. The business has a 50-day moving average of $95.93 and a two-hundred day moving average of $93.77. The company has a market cap of $5.43 billion, a P/E ratio of 30.26, a P/E/G ratio of 0.64 and a beta of 2.04.

Modine Manufacturing (NYSE:MOD - Get Free Report) last issued its earnings results on Tuesday, May 20th. The auto parts company reported $1.12 earnings per share for the quarter, beating analysts' consensus estimates 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 period in the previous year, the company posted $0.77 EPS. Modine Manufacturing's revenue was up 7.2% on a year-over-year basis. As a group, equities research analysts predict that Modine Manufacturing Company will post 3.88 earnings per share for the current fiscal year.

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.