Oppenheimer Asset Management Inc. Sells 10,252 Shares of Modine Manufacturing Company $MOD

Key Points

• Oppenheimer Asset Management cut its stake in Modine by 21.3%, selling 10,252 shares in Q4 and leaving it with 37,937 shares worth about $5.07M.
• Modine posted a quarterly beat—$1.19 EPS vs. $0.99 estimate and $805M revenue, up 30.5% YoY—and analysts are mostly positive (six Buys, two Holds) with an average price target of $234.33 while the stock trades near its 52‑week high.
• Institutional ownership is very high at 95.23% (Vanguard holds ~5.08M shares worth ~$722M), while insiders own 2.48% and director Suresh V. Garimella recently sold 1,100 shares at an average of $184.07.

Oppenheimer Asset Management Inc. lessened its holdings in Modine Manufacturing Company (NYSE:MOD - Free Report) by 21.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 37,937 shares of the auto parts company's stock after selling 10,252 shares during the quarter. Oppenheimer Asset Management Inc. owned 0.07% of Modine Manufacturing worth $5,065,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in Modine Manufacturing by 1.9% in the 3rd quarter. Vanguard Group Inc. now owns 5,080,874 shares of the auto parts company's stock valued at $722,297,000 after purchasing an additional 97,035 shares during the period. Wasatch Advisors LP grew its stake in Modine Manufacturing by 1.4% in the 2nd quarter. Wasatch Advisors LP now owns 1,792,413 shares of the auto parts company's stock valued at $176,553,000 after purchasing an additional 23,955 shares during the period. State Street Corp grew its stake in Modine Manufacturing by 4.2% in the 2nd quarter. State Street Corp now owns 1,309,488 shares of the auto parts company's stock valued at $128,985,000 after purchasing an additional 53,351 shares during the period. Capital Research Global Investors bought a new position in Modine Manufacturing in the 3rd quarter valued at $184,610,000. Finally, JPMorgan Chase & Co. grew its stake in Modine Manufacturing by 14.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,171,497 shares of the auto parts company's stock valued at $166,540,000 after purchasing an additional 151,543 shares during the period. Institutional investors own 95.23% of the company's stock.

Insider Buying and Selling

In other Modine Manufacturing news, Director Suresh V. Garimella sold 1,100 shares of the firm's stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $184.07, for a total value of $202,477.00. Following the completion of the transaction, the director owned 79,856 shares in the company, valued at $14,699,093.92. This trade represents a 1.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 2.48% of the stock is currently owned by company insiders.

Modine Manufacturing Price Performance

NYSE MOD opened at $266.28 on Friday. The company has a market cap of $14.04 billion, a PE ratio of 147.93, a price-to-earnings-growth ratio of 1.09 and a beta of 1.66. Modine Manufacturing Company has a 52 week low of $86.48 and a 52 week high of $268.51. The company has a quick ratio of 1.28, a current ratio of 2.19 and a debt-to-equity ratio of 0.51. The firm's 50-day simple moving average is $223.54 and its two-hundred day simple moving average is $179.79.

Modine Manufacturing (NYSE:MOD - Get Free Report) last released its quarterly earnings data on Wednesday, February 4th. The auto parts company reported $1.19 EPS for the quarter, beating the consensus estimate of $0.99 by $0.20. The business had revenue of $805.00 million for the quarter, compared to the consensus estimate of $763.54 million. Modine Manufacturing had a net margin of 3.40% and a return on equity of 22.99%. The company's revenue was up 30.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.92 earnings per share. Research analysts predict that Modine Manufacturing Company will post 4.82 earnings per share for the current year.

Analyst Ratings Changes

MOD has been the subject of a number of recent analyst reports. Glj Research started coverage on Modine Manufacturing in a research note on Monday, March 30th. They issued a "buy" rating and a $290.00 price objective for the company. DA Davidson reiterated a "buy" rating and set a $265.00 price target on shares of Modine Manufacturing in a research note on Tuesday, March 31st. Oppenheimer lifted their price objective on Modine Manufacturing from $220.00 to $240.00 and gave the stock an "outperform" rating in a report on Friday, February 6th. Roth Mkm assumed coverage on Modine Manufacturing in a research note on Wednesday, February 18th. They issued a "buy" rating and a $263.00 price objective on the stock. Finally, Zacks Research downgraded shares of Modine Manufacturing from a "strong-buy" rating to a "hold" rating in a report on Monday, April 13th. Six investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $234.33.

Modine Manufacturing Company Profile

Modine Manufacturing Company NYSE: MOD is a global provider of thermal management solutions serving automotive, commercial transportation, heavy-duty off-highway, industrial, HVAC and refrigeration markets. The company designs, manufactures, tests and markets a broad array of heat-transfer products that manage temperature and energy efficiency for engines, power electronics and building climate control systems.

Its product portfolio includes heat exchangers, condensers, radiators, evaporators, charge air coolers, fan systems and associated controls.

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