Spire Wealth Management Sells 19,424 Shares of Modine Manufacturing Company (NYSE:MOD)

Spire Wealth Management lowered its position in shares of Modine Manufacturing Company (NYSE:MOD - Free Report) by 94.0% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,238 shares of the auto parts company's stock after selling 19,424 shares during the quarter. Spire Wealth Management's holdings in Modine Manufacturing were worth $95,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Oppenheimer Asset Management Inc. boosted its holdings in shares of Modine Manufacturing by 70.6% in the first quarter. Oppenheimer Asset Management Inc. now owns 38,428 shares of the auto parts company's stock worth $2,949,000 after buying an additional 15,898 shares during the period. Register Financial Advisors LLC boosted its stake in Modine Manufacturing by 22.2% in the 1st quarter. Register Financial Advisors LLC now owns 20,400 shares of the auto parts company's stock worth $1,566,000 after purchasing an additional 3,700 shares during the period. Johnson Investment Counsel Inc. boosted its stake in Modine Manufacturing by 32.4% in the 1st quarter. Johnson Investment Counsel Inc. now owns 3,446 shares of the auto parts company's stock worth $264,000 after purchasing an additional 843 shares during the period. Mountain Pacific Investment Advisers LLC boosted its stake in Modine Manufacturing by 18.3% in the 1st quarter. Mountain Pacific Investment Advisers LLC now owns 53,369 shares of the auto parts company's stock worth $4,096,000 after purchasing an additional 8,253 shares during the period. Finally, Janney Montgomery Scott LLC boosted its stake in Modine Manufacturing by 159.7% in the 1st quarter. Janney Montgomery Scott LLC now owns 9,976 shares of the auto parts company's stock worth $766,000 after purchasing an additional 6,134 shares during the period. Institutional investors own 95.23% of the company's stock.

Modine Manufacturing Stock Up 2.2%

Shares of Modine Manufacturing stock traded up $2.25 during trading on Friday, hitting $104.47. 578,701 shares of the stock traded hands, compared to its average volume of 946,820. 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 has a market cap of $5.47 billion, a P/E ratio of 30.55, a PEG ratio of 0.68 and a beta of 2.04. The company has a fifty day moving average price of $95.09 and a two-hundred day moving average price of $95.99. Modine Manufacturing Company has a twelve month low of $64.79 and a twelve month high of $146.84.

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 (EPS) for the quarter, beating 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 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 EPS. Modine Manufacturing's quarterly revenue was up 7.2% compared to the same quarter last year. Equities research analysts predict that Modine Manufacturing Company will post 3.88 EPS for the current fiscal year.

Modine Manufacturing announced that its board has initiated a stock buyback program on Friday, March 7th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the auto parts company to repurchase up to 2.4% of its shares through open market purchases. Shares buyback programs are often an indication that the company's management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. DA Davidson reaffirmed a "buy" rating and issued a $155.00 target price on shares of Modine Manufacturing in a research report on Monday, March 17th. Oppenheimer raised their price objective on 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 Modine Manufacturing from a "hold" rating to a "buy" rating in a research report on Saturday, June 7th. Finally, KeyCorp began coverage on Modine Manufacturing in a research report on Thursday, June 12th. They set an "overweight" rating and a $125.00 price objective for the company. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $135.50.

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.